Boat ownership can give you a passageway to a lifelong hobby. It’s true: just about anyone of any age can find something enjoyable about a day out on the lake. Whether you have just purchased your first vessel, or if you are a seasoned sailor with years of experience, it can be hard to imagine going back to life before you owned a boat. Still, as your life grows and changes, events can occur that precipitate the need for you to reassess your boating needs. Maybe your family is growing and you need a larger vessel. Maybe your current boat is a little too big for your usage and you are looking for something more modest. No matter the occasion, if you need to sell your vessel, you can probably command a fair price on the secondary market. Once you find a buyer and negotiate a reasonable price, you can transfer ownership fairly smoothly. You may, however, need to create a bill of sale for a boat as a part of Transport Canada’s requirements.
Of course, deciding to sell your boat is not always an easy decision. The odds are good that you got many years of enjoyment out of your vessel, and saying goodbye to all those memories can be tough. You can reframe that thinking, though: why not let someone else create memories of their own on a vessel that no longer suits you? If this is the road you must travel, you should clean your boat and make sure it is in tip-top condition. You can then take several high-resolution photographs of your boat, inside and out, to create an enticing “for sale” listing. Once you have snared a buyer, there will likely be some paperwork to complete, though this largely depends on how your boat is currently documented with Transport Canada.
Do You Need to Create a Bill of Sale for a Boat?
Regardless of a boat’s documentation status, most buyers will want a bill of sale for their records. Buying a vessel is typically a major transaction, so that makes a lot of sense. When a boat carries a pleasure craft license (PCL), which is required for any vessel with an engine of 7.5 kW or more, a bill of sale is technically not required by Transport Canada, though you should be prepared to provide one to the buyer anyway, as it will aid in transferring the PCL.
Registered vessels do require a bill of sale when they are sold. Any boat used for commercial matters, traveling abroad under the Canadian flag, or carrying a marine mortgage requires registration with Transport Canada. In this scenario, you will want to fill out what is called a Form 6 – Bill of Sale.
Create a Bill of Sale Online
We can help you draft your bill of sale using simplified web forms. Simply select the appropriate option in our navigation menu and follow our easy prompts. You can be done with just a few clicks. To learn more, visit our Frequently Asked Questions page.
