To sell a boat, you need to get your paperwork right besides receiving the money for it. It’s important both the buyer and you know how to make the boat ownership transfer. Getting the right documentation will make things clear for both parties and for Transport Canada as well.
The time has come to say goodbye to your old vessel. Are you looking to sell your boat because you want a new one or just want to take a break at sailing? You are on your whole right to do so. After deciding to let go of your vessel, a potential buyer appears and you are about to close a deal. What exactly do you have to do to comply with Canadian authorities?
How Do I Achieve A Boat Ownership Transfer?
To proceed with your boat ownership transfer, you must fill the right form for it. A Transfer of Ownership application applies to vessels registered under the Canadian Register of Vessels. This will transfer the said vessel’s official number to a new owner. Bear in mind that this process is not the same as the one to transfer the Pleasure Craft Licence, which does not provide proof of ownership and must be reported to the Service Canada Pleasure Craft Licensing Centre.
If there is a mortgage registered to the vessel, it must either be discharged or transferred to complete to transfer the vessel’s Certificate of Registry. In order to qualify as a registered owner of a vessel in Canada and apply for boat ownership transfer, you must be a Canadian citizen, a permanent resident, or a corporation incorporated under the laws of Canada or a province.
Filling The Transfer Application
The first thing you need to provide for the boat ownership transfer is the vessel’s name and its official number. State any special circumstances if required.
Specify the entity that owns the vessel. It can be a Canadian citizen or permanent resident, a corporation, or an Indian Band registered with the Department of Indian and Northern Affairs.
You also need to provide the previous owner’s information, such as full name and physical address.
The application form can be found on our website and has a cost of 425.00 CAD
Ownership Transfer Has Never Been Easier
Your boat ownership transfer no longer has to be a problem. Just follow our three steps application processes: complete the online form, submit your docs and fees and you are all set! We’ll take care of sending your documentation to the proper authorities.
If you still have questions regarding the boat ownership transfer, feel free to contact us at our website.