Just as you had one or more reasons for buying your first boat, you might now be interested in selling your boat for a variety of reasons. People change, as do the times. Perhaps you’re thinking about a larger or more luxurious boat, or perhaps the one you have is much too large for your sailing needs. Weary of constant upkeep? Writing a bill of sale doesn’t have to be a stressful situation, which is why in this entry we’ll show you how to write a bill of sale for a boat in just a few minutes in a super easy and safe way.
A Bill of Sale: What Is It?
You know how, at the end of the purchase when you go to any kind of store, you are given a receipt? When someone buys a boat, the same thing happens. In this case, however, the receipt is legally referred to as a “bill of sale.” This document is very helpful as it acts as a legal transfer of ownership for the involved vessel. A bill of sale serves as evidence of ownership and can be used to transfer a boat’s title, buy insurance, or change the registration of the vessel.
Why Do I Need A Bill Of Sale?
As stated before, the document that legally proves a change of ownership from one person to another is a bill of sale. When selling your boat, creating a bill of sale ensures that the transaction is properly reflected and that both parties are aware of the precise items and terms of the transfer. Most of the time, this is merely a formality between you and the buyer, but it’s never a bad idea to learn how to write a bill of sale, especially when you’re not very familiar with the buyer. As a seller, this is important when you’d like to be really clear with the specifics of the boat’s characteristics and avoid problems in the future.
Providing the Right Information
So now that you and the buyer have reached a pricing agreement and are ready to begin the transaction, the time has come to draft a bill of sale. You will need to compile a few essential pieces of information in order to do this. The price of the boat, the names of the buyer and seller, and the make or model of the boat should all be listed on your bill of sale.
You can legalize the sale using Transport Canada’s Form 6—Bill of Sale if your vessel is registered there. There are additional templates online that you can use if you’re selling an unregistered pleasure ship. Get everything filled out thoroughly to prevent any potential misunderstandings with the ownership transfer.
An Online Service That is Right For You
It’s OK if you don’t understand how to navigate boat paperwork. After all, you’ve been training to navigate the seas and enjoy the lakes. Here at the National Vessel Registry, we can assist you in locating and completing the paperwork required to update your records and documentation with Transport Canada. You can avoid the hassle of printing forms, manually filling them out, and delivering them to the post office by using a private service. We provide all the information you require on a single practical website, allowing you to spend more time on your boat and less time on paperwork.
Writing the Bill of Sale
Knowing what to add to the document outline once you have it is perhaps the most important part of the equation. The majority of templates already walk you through the process, but it doesn’t hurt to read more to ensure that the information is accurate. You become a responsible seller and feel more at ease when you have clear information.
Use every single detail about your vessel to ensure that, before you and the buyer sign on the dotted line, you both understand the terms of the deal. Include the boat’s name, hull number, registration number, and other pertinent information (VIN, make, model, year, etc).
Once you have completed the template information and entered the necessary data you are ready to go. Make sure the document has the necessary spaces for the notary witness’s signature and seal, as well as blocks for the signatures of the buyer and seller.
Learn More About Writing A Bill Of Sale For A Boat And Other Topics.
Let us assist you if you need to draft a bill of sale or register your boat for the first time. Look around our website for a moment to see if there are any documents you need to update. We have all the necessary forms, tools and experience to make this process easier for you. Additionally, we use an SSL-encrypted portal, so you can be sure that your personal data is secure. To find out more, visit our website or call us right away!.