A boat bill of sale is one of the legal documents that you need to secure to transfer ownership of property. In this case, your boat. It includes the terms of a transaction between you and the other party (buyer or seller). But this is especially vital if you are buying a boat.
Is Boat Bill of Sale a Legal Requirement?
Every state in the US has its requirements for securing a BBOS. The requirements will depend on the size, weight, and class, as well as boats under certain horsepower. But, regardless of the state requirements, Obtaining this document can be a good idea.
What is the Power of this Document?
Proof of Ownership
A BBOS is the primary document that establishes the buyer’s legal ownership of the boat. It includes a description of the vessel, its unique identification numbers, and any registration or documentation details, making it clear who the rightful owner is.
Purchase Price and Payment Terms
The document records the purchase price of the boat and specifies the payment terms, such as the method of payment, due date, and any deposit made. Having these terms in writing prevents misunderstandings and disputes down the boat.
A common provision in a BBOS is that the boat is sold as-is. It means that the buyer acknowledges and accepts the boat’s condition at the time of sale. It protects the seller from post-sale claims related to the boat’s condition.
Warranty and Disclosures
In some cases, the BBOS may include warranties or disclosures made by the seller regarding the boat’s condition, history, or any known issues. This information helps the buyer make an informed decision.
Transfer of Title And Registration
The document typically outlines the process for transferring the boat’s title and registration from the seller to the buyer, ensuring that the boat is legally and officially under the new owner’s name.
Signatures and Notarization
Both the buyer and the seller must sign this document. Some jurisdictions may require notarization for added legal weight and validity.
How to Obtain this Document?
You can always draft a BBOS yourself. It is crucial to ensure that it meets the legal requirements of your jurisdiction and includes all the necessary details. Templates and guidelines are available online to help you create a valid document.
You may also obtain it from the Vessel Registrar Center. But the most important thing here is to fill out the document carefully. Both parties must sign it. Then, make sure to notarize it. Each party must retain a copy of the completed BOS.
Depending on your jurisdiction, you may need to submit it to your local maritime or motor vehicle agency to officially transfer the title and registration. Here at Vessel Registrar Center, we can handle the process for you.
Make it your top priority to process this document. It is a vital tool to protect your boat investment. It ensures proof of ownership, clarifies the terms of the sale, and safeguards both the buyer and the seller from potential disputes. Whether you are buying or selling a boat, this document is your contract for a smooth transaction.
To start filling out the boat bill of sale form, please check out the forms on the left side of this page. Or call our team to help you figure out how.