Is a boat a good investment? A documented vessel is more expensive. But is it worth it? Owning a boat does have a lot of benefits. And yes, it is a good investment. You can use it to go wherever you want. Now, if you are indeed considering buying a vessel, you may want to consider verifying the real owner of it by conducting a boat documentation search.
Revealing the Owner Through a Boat Documentation Search
Searching for boat documentation can provide you with helpful information about a boat’s history and documentation status. It may also help you determine the current owner. But it is still an intricate process if you do not seek the help of the experts.
What is Vessel Documentation Lookup?
It lets you retrieve information about documented vessels. The search can provide you with data related to a boat’s history, like official numbers, previous names, registration status, and lien information. These details do offer valuable insights into a boat’s background. However, it is important to note that they may not directly disclose the current owner’s identity.
Limitations of the Search
The purpose of this search is to help you know the legal and financial aspects of a boat, instead of divulging the personal information of boat owners. Because of privacy regulations, the NVDC does not publicly disclose the private information of the current owner through this search. Rather, the focus is on providing details related to the boat itself, ensuring compliance with regulatory requirements.
Methods to Determine Ownership
You may use state-level registration. Boats that are not federally documented may need to register with the state’s boating authorities. Thus, if the boat you wish to purchase is not in the database of the USCG, you may check state-level boat registries.
Bill of Sale
This is also another way to obtain the owner of the boat. It establishes the transfer of ownership and includes the seller’s information. Ensure the bill of sale is properly executed and it must contain all vital details to protect your interests.
Hiring a private investigator who specializes in maritime-related matters can be another option if the documentation search does not reveal the identity of the owner. The PI has the resources and expertise to conduct more extensive research.
What to Do After Revealing the Identity of the Boat’s Owner?
After determining the real owner of the documented boat you wish to purchase, it is time now to continue the transaction. However, it is important to note that just because you know the identity of the owner does not mean that you have avoided scammers. It is still vital to hire a trustworthy lawyer or vendor who can give you counsel and direction.
Keep in mind that there are legal steps you must take to guarantee clear ownership once the transaction is completed. You must go through various channels and get approval from the relevant authorities before you can take ownership of the boat. It can take some time to finish the tasks. But it is doable.
Contact our team today to ask about a boat documentation search and we can help you stop becoming the next victim of a scam when purchasing a boat.