Transfer of interest in ship or existing trust--Operation of law--Written instrument

An interest in a ship, or in an existing trust, can be transferred only by operation of law, or by a written instrument, subscribed by the person making the transfer, or by his agent. Source: CivC 1877, § 634; CL 1887, § 3255; RCivC 1903, § 948; RC 1919, § 556; SDC 1939, § 51.1502.