One of the great things about boating is that it is an activity that virtually anyone can enjoy. People of all ages can have fun and make memories by spending a day out on the lake, be it partaking in water sports, fishing, or just taking in the serenity of the Canadian outdoors. While boating is certainly something that all should experience, the harsh truth is that it can be prohibitively expensive. Beyond the seemingly limitless price tags on brand-new vessels and the high costs of docking fees and regular maintenance, boating may seem like an out-of-reach hobby for those on a budget. The good news is, though, Canada is home to a robust secondary market for vessels, and shrewd buyers can snag a great deal on a well-maintained, previously-owned vessel. If you are thinking about purchasing a used boat–or if you are planning to sell your current vessel–you will want to know a bit about how to complete a boat ownership transfer document.
Before you can pull the trigger on the boat of your dreams, you should probably conduct a fair bit of research on the boats that are right for you. This can allow you to take a more discerning approach when perusing “for sale” listings. If you are on the other end of the transaction, you will want to put on your marketing cap to get the best possible price for your vessel. This can mean cleaning and repairing your boat, taking high-resolution photographs of its interior and exterior, and writing an engaging listing for print and digital trade publications. Whether you are buying or selling a boat though, before ownership can officially be transferred, you may need to complete some paperwork with Transport Canada, and that’s where we come in.
What is a Boat Ownership Transfer?
How you go about transferring ownership of a vessel will come down to how it is documented with Transport Canada. If the boat in question carries a pleasure craft license (PCL)–which is required for all leisure craft featuring engines of 7.5 kW or more–you will want to sign over the document by completing the correct fields on its back side. Though not required, you may want to have a bill of sale drawn up as well.
In Canada, all boats that are financed with a bank loan or used for commercial means must carry a vessel registration. Boats that travel abroad under the Canadian flag must also hold this document. Transferring a registration is a bit more involved than a PCL, in that you must complete what is called a Form 6 – Bill of Sale with Transport Canada. The good news is, we have an easy-to-fill web form that allows you to do this online with just a few clicks.
Let us Help You Buy or Sell a Boat
If you are looking to draft a bill of sale or apply for a PCL or vessel registration, we have the web forms you need. Spend less time on paperwork and more time on the lake by working with us. To learn more about our many services, visit our Frequently Asked Questions page today.