A boat, being a fairly expensive good, is not going to be like just any other gift. Because of this, gifting a boat to a family member can be a bit complicated. Here’s how you can handle that.
Gifting a Boat to a Family Member
If you are giving away a boat to anyone, be it a friend or a family member, you have to worry about a wide variety of things. One of them has to be the Transport Canada documentation, which is a very important component of boat ownership in general, but even more so when it comes to giving a boat away. Here’s a brief guide on what you should do when you’re giving away a boat as a gift so that the documentation is all properly taken care of easily and quickly.
The Importance of Documentation
The documentation of any given vessel always needs to be made to the name of the owner, which means that if you are gifting a boat to a family member, the documentation needs to be under their name, not yours. With this in mind, if you are purchasing the boat directly from a retailer or manufacturer, make sure not to file for documentation until after you’ve gifted the vessel and your family member can register it for themselves. This way, they themselves can take care of their initial Transport Canada documentation without you having to worry about this process. However, the process is going to be different if the boat was already registered to your name.
Filing For Transfer
If you are gifting a boat to a family member when the boat has already been owned by you, the documentation process will be different altogether. If you already owned the vessel and you are giving it away to your relative, that means that the documentation already exists and it is in your own name. Because of this, you need to go through the process of transferring the documentation to the relative to whom you’re giving away the vessel. In order to do this, just head over to the transfer option form on our menu and fill it out. In lieu of a normal bill of sale, though, you will need to provide a bill specifying that you are giving away the boat as a present in the usual format of a bill of sale.
File Your Forms of Transfer
Transport Canada documentation applications can be tedious and inconvenient to go through, but we don’t want that to be the case for you. Our platform is designed to make sure that all these processes are made easier for you, and that you have no trouble filing for any vessel documentation that you need. Not only that, but our team is always ready to provide you the help that you need should you have any questions or doubts about any application process. Whether you are dealing with registration, licences, transfers, or just about any other piece of documentation, you will find everything that you need right here at the National Vessel Registry Center.