You Need a Bill of Sale for Your Boat Transaction

You Need a Bill of Sale for Your Boat Transaction

Any time that you engage in a substantial transaction like buying a house or a car, you know that there is going to be necessary paperwork to go along with taking care of the deal. It does not matter if you are the one doing the selling or the buying – you are still going to have things you need to sign and papers to file so that the deal can be official. Failing to get all you need can create problems for you down the line that you may not want to deal with. All this rings just as true whether you are buying or selling a recreational or commercial boat. One piece of essential paperwork you want to make sure you have is the bill of sale for your boat so that you can complete the transaction and your boat documentation legally.

A Recording of the Sale

Your bill of sale is the record of the transaction you are undertaking, and it is a necessary component that you will need for registration or documentation of the boat. If you are the seller, the bill of sale gives you a record you may need for your taxes to show what you earned from the sale. You will also need the bill of sale if your vessel was previously documented with the Coast Guard so that you can file a change of ownership. If you are the buyer, the bill of sale is significant to you, as well. This document shows that you are now the owner of the boat, and you will need it if you plan to register in your state or if you are going to file for documentation yourself.

bill of sale for your boat

Creating a Bill of Sale for the Boat 

Creating a bill of sale for the boat may be something that the owner and buyer do jointly so they can be sure it has the information they need on it. Some general information is always warranted, like the names and addresses of the parties involved in the deal. You also are going to want to have the date of the sale on the document so that it can be shown when new ownership occurred. You also want to be sure that the hull number and registration number of the vessel and a description of the vessel are included, along with the selling price of the boat.

A Bill of Sale and Documentation

If you are going to seek ship documentation as a new boat owner or need to record changes as a previous owner, you will want the bill of sale for the boat to use in the process. Once you have what you need, you can come to us at Vessel Documentation Online to take care of all your filing needs. Whether you are the buyer or seller, we have the Coast Guard forms you will require, and we have them electronically on our site so you can fill them out on your computer screen. We make the filing process as easy as possible so you can complete it in minutes to move towards what you need.