Court sales of documented vessels

a person eligible to own a documented vessel under section 12103 of this title; or a mortgagee of that vessel. the vessel must be held by the mortgagee for resale; the vessel held by the mortgagee is subject to chapter 563 of this title; and the sale of the vessel to the mortgagee is not a sale to a person not a citizen of the United States under section 12132 of this title. Unless waived by the Secretary of Transportation, a person purchasing a vessel by court order under subsection (a)(1) of this section or from a mortgagee under subsection (a)(2) of this section must document the vessel under chapter 121 of this title. The vessel may be operated by the mortgagee not eligible to own a documented vessel only with the approval of the Secretary of Transportation. A sale of a vessel contrary to this section is void. This section does not apply to a documented vessel that has been operated only for pleasure. A documented vessel may be sold by order of a district court only to— When a vessel is sold to a mortgagee not eligible to own a documented vessel— (Source: (Pub. L. 100–710, title I, § 102(c), Nov. 23, 1988, 102 Stat. 4747; Pub. L. 104–324, title XI, § 1118, Oct. 19, 1996, 110 Stat. 3973; Pub. L. 109–304, § 15(32), Oct. 6, 2006, 120 Stat. 1704; Pub. L. 111–281, title IX, § 913(c), Oct. 15, 2010, 124 Stat. 3017.))