Bill of Sale for Boats vs. Transfer/Exchange: When You Need Them

Bill of Sale for Boats vs. Transfer/Exchange: When You Need Them

Embarking on the journey of selling your boat is a thrilling endeavor. The prospect of a successful transaction where your vessel finds a new owner at your desired price is undoubtedly exciting. However, before sealing the deal, it’s imperative to ensure all aspects are meticulously handled. 

One question we’re often asked: can you draft a ‘Bill of Sale for a Boat‘ by hand when you can’t locate an online form? Furthermore, can such a handwritten bill be employed for selling your documented vessel? Crafting a ‘bill’ for an undocumented vessel can indeed be accomplished in a handwritten format. Conversely, if your boat is documented, a Transfer/Exchange form becomes essential.

Demystifying the Bill of Sale for Boats 

Crafting this document can involve either the traditional pen-and-paper method or a digital typewritten approach. However, certain key particulars must find their way into this bill. A comprehensive description of the boat is imperative, encompassing distinguishing features such as length, manufacturing date, make and model, Hull Identification Number, and more. The bill should carry your and the buyer’s names, contact information for both parties, and, if applicable, the state registration number. 

A good rule of thumb here: if you’re in doubt, put it in. If there’s some piece of information about the boat that you think may be crucial for a bill of sale, include it. There’s no penalty for having too much information in there or anything of that nature. What’s listed above is the basics. If you feel compelled to include more, do so. 

Navigating the Sale of a Documented Vessel

It’s important to note that the aforementioned guidelines pertain solely to undocumented vessels. Should your vessel be documented, a Transfer/Exchange form emerges as the requisite instrument. This isn’t a document you can construct independently. An additional facet to consider: if you intend to transfer ownership to a new possessor, resolving any outstanding mortgages is more prudent, it’s required. Alternatively, securing lender approval becomes a necessity. They have to sign off before you sell the vessel. 

The “Transfer Exchange” form is one of many different vessel documentation forms that you can find right here at our site. 

Precautions Before Acquiring a Documented Vessel

When contemplating the acquisition of a vessel, diligent information gathering stands paramount. In the case of a documented vessel, acquiring an Abstract of Title proves invaluable. Despite its curious nomenclature, this form offers comprehensive insights into the vessel’s background, akin to the information encapsulated in the aforementioned bill. It delves deeper, encompassing the full ownership history and any maintenance work undertaken.

Bill of Sale for Boats vs. Transfer/Exchange: When You Need Them

Your Port of Call: The National Documentation Portal 

Whether you’re venturing into boat ownership for the first time or your maritime experience spans a lifetime, our platform offers an array of documentation forms. Designed with mobile optimization in mind, the convenience of swiftly completing these forms awaits at your fingertips. As long as you have the necessary information on hand, you can seamlessly navigate the documentation process, right here on our site.