Are you looking for details on how to get a boat bill of sale in Ontario? Good news: you’re not alone in feeling that way. If you’ve never gone through the process of having a yacht documented before, it might be confusing as to what steps must be taken. One way to prove that you are the rightful owner of an item is through a bill of sale.
If you buy a boat in the Canadian province of Ontario, you’ll need to have it registered there before you can take it out on any of the waterways in the province. A bill of sale should always contain the VIN and be registered with the proper authorities.
If the Canadian Coast Guard ever needs to determine whose vessel you are operating, they will have a record of it and can do so with little effort. Following is a rundown of what must be done in Ontario to get a bill of sale for a boat.
Get It in Writing
A written contract is the next step in getting a boat bill of sale in Ontario. Ensure everything is agreed upon in writing and both parties have signed it before handing over any money to a salesperson or private individual. A copy of this written agreement must be sent to the vendor for their records, and you should preserve a copy for your files.
The written agreement should include the purchase price, the seller’s complete name and address, and the boat’s registration number. Any additional equipment needed to make it seaworthy should also be included in the estimated price.
A boat bill of sale in Ontario is often integral to a dealer’s regular purchase contract. You won’t need to worry about having numerous copies made or figuring out how much each item will cost since this will contain much of the same information as we’ve already specified. These two tasks will be completed without any input from you.
Make Sure You Have the Correct Information
Ensure that you have accurate information. To purchase a particular boat, you must know its year, manufacturer, model, and hull number. This information is located on the stern (rear) of the boat, quite close to the waterline. In addition, many individuals are interested in learning whether or not the boat is subject to any liens (for instance, if someone still owes money on it or had a loan against it).
Suppose you purchase anything from a private person, and that person wants this information to be separate from your boat bill of sale in Ontario. In that case, they may sign an affidavit stating they do not want it included.
Get the Boat Bill Of Sale Ontario Notarized
Did you know that a bill of sale must be used to legally transfer a boat into your name in the Canadian province of Ontario? The original owner must formally transfer ownership to you by signing over the title before a notary public. The boat dealer you purchase from can assist you in making the necessary notarial preparations.
This is not because the form has any binding legal effect; instead, it is evidence that the buyer and seller signed it freely and simultaneously with a neutral third party whose role is to ensure the transaction goes off without a hitch. The notary’s signature and seal will prove to all parties that the document was signed and completed following all applicable laws.
Make Sure Your Name Is Spelled Correctly
You may have noticed the straightforward boat bill of sale in Ontario. This is so because it is optional for you to have extensive knowledge of the transaction. All that counts is that you hand over a certain sum of money to the vendor and have your name signed off at the bottom. Check that the spelling of your name is correct.
Worse than not receiving the yacht you thought you bought is finding out the vendor spelled your name wrong. Two, make sure you verify the seller’s signature on the paperwork. Find out who has been representing them, and if that person isn’t someone you trust, have the person represented sign as well. Doing so will forestall potential problems down the line.
Don’t Forget About Taxes and Fees
A number of taxes and fees must be paid before a boat may be registered in Canada at the federal or provincial level. Your boat bill of sale in Ontario will be paramount in this case. You’ll need it if you want to do anything. It would help if you discussed any unknown costs with the seller or the broker upfront to avoid any unpleasant surprises when the time comes to pay.
It may be possible to save money on registration fees by handling part of the process yourself (such as moving the vessel), registering with your province rather than the federal government, and taking advantage of any tax exemptions that apply to boats under a specific size. Find out whether a marine surveyor, broker, or other professional is needed (and how much they charge, if any) to meet your requirements.
Contact Us Today
Get your Ontario boat bill of sale with the aid of the National Vessel Registry Center. If you want to register your boat in Canada, we can obtain the paperwork you need to do so. You may obtain every document required to register a boat or ship in Canada on our site. We explain how to get an Ontario bill of sale from the Internet. To learn more and learn how to register your boat online, check out our website.