There are as many possible motivations for selling a boat as there were for purchasing it in the first place. The times, situations and people change. Maybe the boat you have now is too big for your needs, or you’re thinking about upgrading to something fancier. Fed up with the endless upkeep of your current boat? In this entry, we will show you how to quickly and securely draft your boat bill of sale for a boat in just a few minutes, so that you can sell or transfer ownership of your vessel without worrying about the legalities of doing so.
So, What Exactly Is a Bill of Sale?
When you make a purchase at any store, you are inevitably provided with a receipt. The same thing takes place whenever a boat is purchased. Here, however, the receipt is called a “bill of sale” under the law. As a legal transfer of the vessel’s ownership, this document is invaluable. A bill of sale proves ownership and is required for title transfers, insurance, and registration changes.
Is a Bill of Sale Necessary?
Bills of sale, as previously mentioned, are legal documents that prove the transfer of property from one owner to another. Making a bill of sale when selling a boat ensures that the sale is recorded accurately and that all aspects of the transfer between the buyer and seller are clear. Even if you and the buyer are already familiar with each other, it’s still smart to brush up on how to draft a bill of sale just in case. If you’re selling a boat and want to avoid future confusion, it’s important to be as specific as possible about its features.
Keep in mind that a bill of sale is not required for every transaction involving a vessel. It is not necessary to have a bill of sale for boats that have been registered with the small vessel registry or the Canadian vessel registry in accordance with the regulations of Transport Canada; instead, you can simply use the Form 6 Bill of Sale and fill in the relevant fields on the form that is available on our website. If the vessel is classified as a licensed pleasure craft, you should search the internet for a template that is in accordance with the regulations of the state.
Providing Appropriate Details
Now that you and the buyer have settled on a price and are ready to proceed with the sale, it is time to draw up a bill of sale formalizing the terms of the deal. Gathering a few key pieces of data will be necessary for this. On the bill of sale, you should specify the selling price, the boat’s make and model, and the names of the buyer and seller. Make sure everything is filled out correctly to avoid any confusion over who owns what.
The Best Online Service Available
You need not worry about not being able to figure out the boat paperwork. After all, your training wasn’t made to teach how to fill up paperwork, but to sail the seven seas and paddle through the various lakes. At the National Vessel Registry, we’re here to help you find and fill out the forms you need to submit to Transport Canada in order to keep your records and documentation up to date. Using a private service like ours saves you the time and effort of printing, filling out by hand, and delivering paper forms to the post office. You can spend more time out on the water and less time filling out paperwork thanks to our comprehensive, safe, and user-friendly website.
Providing the Correct Information
Understanding what should be included in the document outline once it has been created is crucial. While most templates do include instructions, it never hurts to double-check everything for accuracy. Before you and the buyer sign on the dotted line, use every piece of information you have about your ship to negotiate the best possible terms for the sale. Write down the boat’s full name, hull number, and registration number (VIN, make, model, year, etc.).
It’s recommended, though optional, to include the phone numbers and personal identifications of all people involved, as well as the signatures of witnesses. After you have entered the required information into the template, you are ready to go. Include the notary witness signature and seal blocks, as well as buyer and seller signature sections, in the document.
Read Up on Boat Bill of Sale Writing and More Today!
We can help you with first-time boat registration and the creation of a bill of sale. Check out the available forms and templates on our site to find all the tools you need for this and any other type of vessel documentation. Here at our company, we have the paperwork, resources, and know-how to streamline the procedure for you. You can rest easy knowing that all of your private information is safe because we use an SSL-encrypted portal. Please visit our website for further information.