A documented vessel is an option worth considering if you’re in the market for a new boat. Precisely what does it entail, and what advantages does it provide? What you need to know before purchasing a legally registered boat. Vessels recorded by the U.S. Coast Guard are “documented vessels” in the United States. You may avoid paying taxes and register your boat in more places with proper documentation. If the boat is registered, you’ll have an easier time filing an insurance claim for boat replacement or repairs. If you are interested in purchasing a documented vessel, there are a few things you should think about first. Here are some considerations to bear in mind before investing in a legally registered boat.
Make Sure the Boat Is Registered With the U.S. Coast Guard
The first thing to remember is the significance of an adequately documented boat or other vessel purchase. If you want to operate the boat in U.S. waters (or even store it there), you’ll need to get it inspected and approved by the U.S. Coast Guard. Small boats that don’t need a title or registration with any state are not required to have documentation, nor are personal watercraft.
But even if your boat is exempt from documentation, you may want it nevertheless. Without proper paperwork, your boat won’t be treated as a distinct legal entity, which might cause problems when purchasing or selling another boat or settling a dispute with another boater over a cabin cruiser. Also, the U.S. Coast Guard will better understand your vessel’s location and history if you register it with them.
Check the Documentation To Make Sure All Information Is Correct
The purchase of a documented boat is subject to specific requirements. To begin with, the paperwork: A formal registration of your boat’s data and history will accomplish this. Checking the register after purchasing a documented vessel is essential for several reasons, including ensuring the vessel may be sold or refinanced in the future. Aside from court proceedings, the Coast Guard is another entity that requires paperwork from you.
They will go over your boat and their history with it to see if there have been any difficulties. It’s best to be prepared with any paperwork related to your boat’s history. It’s a breeze to get the paperwork together since the Coast Guard has already confirmed all the data on the ship’s seaworthiness. At first glance, the mountain of paperwork, forms to fill out, fees to pay, and other papers to submit might seem overwhelming.
Verify That the Builder or Owner Has a Valid Marine Surveyor’s Certificate of Inspection
It’s crucial to have this certificate of inspection since it attests to the fact that the vessel’s hull, machinery, and other components have all been inspected by a certified marine surveyor and found to be in good working order. A boat is a significant investment, so you should ensure the engine and steering systems have always worked well. If there are any problems, you don’t want the blame to fall on you down the road.
If anything goes wrong after the purchase, proof that you gave it a thorough inspection will help you claim with the insurance company confidence that they will pay for the damages. It’s important to remember that having a Certificate of Paperwork issued by the United States Coast Guard (USCG) is no guarantee that the holder has fulfilled all requirements for keeping such documentation current.
Make Sure All Taxes and Fees Have Been Paid for a Documented Vessel
This is so because boats that are required to have paperwork must have documentation or proof that they have been issued documentation. Since it incorporates federal, state, and sometimes even international regulations, the documentation process may be complex. Start your search for a new boat with a question to the seller about whether or not the vessel has the required documentation from the Department of Homeland Security. Do not proceed with the transaction until he produces the official Certificate of Documentation number as verification.
In addition, he must provide the original Certificate of Documentation and any other relevant paperwork he filled out in connection with the yacht’s purchase. The buyer of a recorded vessel is responsible for paying any personal property taxes and any outstanding liens on the vessel. After the initial cost of the boat has been covered, these extras might quickly run into the hundreds or thousands. A hull survey by a certified maritime surveyor is also required.
What is a vessel document? The U.S. Coast Guard requires vessel documents to ensure that every boat operating in U.S. waters is seaworthy and adequately documented. They must be renewed annually and may be obtained from Vessel Documentation Online LLC., through our website, or by calling (877) 564-1398.