Registration of mortgage is allowed as soon as a ship has been provisionally registered. For a provisionally registered ship, the mortgagee (e.g. bank, shipyard etc) is to ascertain that they have sighted the original document of title of ownership (e.g. Bill of Sale).

Upon submission of the Mortgage Deed (Form M1) and Mortgage Agreement (Deed of Covenance) to the Tuvalu Ship Registry, the Registrar or Deputy Registrar will confirm the date and time of the mortgage registration, check on the priority of the mortgage and issue a Certificate of Mortgage Registration.

The Registry will keep a copy of the Certificate of Mortgage Registration and the Mortgage Deed (Form M1) in the ship's file, and return the originals to the applicant.

The Registry must obtain the original Mortgage Deed (Form M1) and ascertain that the mortgage is discharged by the mortgagee. Upon submission of the above document to the Registry, the Registrar will discharge the mortgage on the Mortgage Deed, file a copy, and return the original Mortgage Deed to the applicant.

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