The boat bill of sale is designated for the transfer of ownership from one person or entity to another. When filling-in the form, the buyer and seller will typically have to enter their names and mailing addresses along with the boat’s:
- HIN (Hull Identification Number)
- Number (#) of Hours (on the engines, if any)
- Style (Color, Manufacturer, Hull Type, Year Built, and any other details important for the sale.
Afterwards, the payment details and other information may be entered such as:
- Purchase Price (in US Dollars, Trade, or Both)
- Liens and Encumbrances (if any)
- Vessel Condition (List any major scratches, marks, or other needed repair items)
- Odometer (Usually in hours but also in other distance formats as well)
Lastly the parties will need to sign the document and can choose to do so with witness(es) present or a notary public. It is not required but is highly recommended to have a third (3rd) party present.
If the boat is being sold in the same State, the Seller should have registration documents to allow the new owner to easily get the new tags.
If the boat is being sole in a different State, the buyer will typically have to follow the new registration guidelines in their respective State and ensure that they move the boat in accordance with State laws (For Example: most States require that any and all plants be removed from the hull/engine in order to maintain the local plant species).
There is no requirement for a notary public or witnesses to authenticate the Boat Bill of Sale. Therefore, both parties should be aware that upon their signatures that the form represents a legal contract for which both Buyer and Seller must perform.