The Board collects and maintains, for public inspection, a register of mortgages, leases, etc., that pertain to railway equipment and water vessels used in interstate commerce.
To perfect a security interest in (a) railroad cars, locomotives, or other rolling stock or rail-related accessories; or (b) water vessels, the instrument in which the bailment or security interest is evidenced (such as a mortgage, lease, equipment trust agreement, conditional sales agreement) must be filed with the Surface Transportation Board. 49 U.S.C. § 11301; 49 C.F.R. Part 1177. In addition to the filing of the initial instrument that creates the security interest or right, any instruments that assign, supplement, or amend the security interest must be filed with the Board. These includes releases, discharges, or satisfactions, either total or partial. Recordation at the Board removes the need for recording such a security interest in individual states. 49 U.S.C. § 11301(e).
For more information on the requirements for recordation of security interests for railroad cars, locomotives, other rolling stock, or water vessels, click on the link for the Board’s regulations below. Parties can use the STB Recordation Registry below to search for recordations. To file a recordation, use the E-Filing system.
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