Priority Notices

Cayman offers the option to record a "priority notice" which enables a party who issues such a notice to record an intention to register a mortgage for a period of up to 30 days after the priority notice has been recorded with Cayman.

This prevents (for 30 days) a subsequent priority notice or mortgage from gaining priority over the subject vessel before the party who issued the initial priority notice is able to register a mortgage.

This option may be particularly useful in cases where mortgage transactions take place outside the Cayman Islands. Please note that priority notices may also be deposited in one of the five worldwide mortgage depository locations.