Ownership of a documented vessel may be transferred quickly and easily at the Vessel Documentation Center. It is just necessary to produce a photocopy of the Certificate of Documentation in this case. It must include the owners’ signatures, and a copy of the document must be notarized. Then, provide the new owner’s name and address in the body of the letter. What would you do if you misplaced your Certificate of Registration? Our crew can still generate a bill of sale for the proprietor.
You have the option of notarizing it manually or digitally. Transferring ownership of a documented vessel may be a complex process, particularly if you’re a first-time boat owner who doesn’t know where to begin. When it comes to changing the name or address on the Certificate of Documentation issued to you, you must have both the first bill of sale for the boat and the second bill of sale for when it is re-delivered. What is the process for making these? They may be signed online or physically notarized, depending on your preference.
Make Sure You Have Everything You Need to Transfer the Ownership of Your Documented Vessel
Transferring ownership of a recorded vessel necessitates the gathering of several supporting documents. The vessel title paperwork is required as a preliminary step. Buyers who lack a license may get one from their local Department of Motor Vehicles (DMV) according to americanboating.org. Of course, a duplicate of the bill of sale or gift letter must be prepared. If the vessel was inherited, you might provide a copy of the deceased’s death certificate.
Documents that support your claim should include all fees and taxes owed on any vessels you own. All vessels registered with the US Coast Guard, such as motorboats, yachts, sailing vessels, and even pontoons, may be legally transferred to a new owner. The United States Coast Guard (USCG) provides the guidelines for transferring ownership of a documented vessel. Both current and prior owners must fill out a new registration card (also known as Transfer Form CG-1270). A bill of sale must be accompanied by documentation that you own the vessel you are selling.
Be Sure to Save a Copy of Your Completed Form and Any Supporting Documentation.
A copy of your application and any accompanying documentation should be made for your reference. It is always a good idea to have a copy of all the papers you provided to VIMC on their official file copies. Requesting an “Official File Copy” of your transaction will provide you with a copy of each form you filled out. They’ll scan and save your paperwork in their system.
To order file copies from the Coast Guard, you’ll need a hard-copy receipt from VIMC. File copy requests need your OCN/SIN number and mailing address. Before exiting VIMC or after obtaining your file copy from VIMC, check the top left corner of the form for the name of the form’s owner. Owner of Document ” is preceded by a 15-digit number and a PO Box address. As far as I can tell, this is not your boat’s SIN number, which is located in a safe place on board.
A Completed Documentation Package Should Be Sent or Faxed to The National Vessel Documentation Center (NVDC)
A condition in the title replacement agreement mandates that the owner retain a copy of the replaced certificate. If you don’t have a copy of it, you’ll have to meet this condition. It’s a significant deal to own a registered watercraft. Boat ownership is a significant responsibility, but it may open up a new world of possibilities. In addition to the financial implications, maintaining your boat’s safety and integrity is an absolute need.
When it comes to owning or maintaining your vessel, the National Vessel Documentation Center (NVDC) is here to help. However, what if you’ve misplaced part of your paperwork? A significant difficulty created by the loss or destruction of paperwork documents is that owners can no longer show ownership of their boats. Authorities may find this an issue if they conduct an inspection or collect tax information.
Transferring ownership of a registered vessel is a simple process. Forms and accompanying documentation are all that are required for the application process. Because we live in the digital age, you can send documents to someone by email if you already have their email address stored on your computer. You’ll still need to do a few things before you can transfer ownership of a vessel, such as mail or produce digital copies of the completed forms that they must sign and return to you. For more information on How to Transfer Ownership of a Documented Vessel, call us at 1-866-981-8783.
Who Can I Transfer Ownership of My Vessel to With This Form?
For the most part, these transfer forms are used to transfer ownership from one person to another. That said, you can transfer ownership to far more than just that. A “Transfer/Exchange” can be with many different parties. Indeed, it doesn’t even have to be a complete change of the ownership group.
To use one example, you don’t have to transfer complete ownership to a new owner – you could simply bring a new one into the ownership group. The types of people who are often brought into the ownership group include spouses, partners, co-workers, and others – some ownership groups are larger than you might think. In the course of owning a vessel, your ownership group may change significantly.
To be clear, you don’t need to just include a person in the ownership group. You may decide to transfer ownership of the vessel to more than just a person, to a company, a trust, etc. So long as they’re qualified to be the owner of a documented vessel, then yes, you can bring them into the ownership group.
Life can take different courses than we initially planned. This Transfer/Exchange form can help with that as well. This is the form to use when one person in the ownership group is no longer interested in co-owning the vessel. Should you need to remove to someone from the ownership group of the vessel, this form can help there, too.
Who Can Co-Own a USCG Documented Vessel?
Individuals have to be citizens of the United States. They can have dual citizenship with another country, but they must be American citizens. So, you can’t bring an individual into the ownership group of your vessel, much as you might like to, who is not a citizen of the United States.
If you’re bringing a trust into your ownership group, there are certain requirements. Both the trustees have to be United States citizens as well as the beneficiaries with an enforceable trust.
As mentioned, yes, you can bring in a corporation to own your vessel. But, even then, their offices must be based in the United States and they have to be managed by American citizens, too.
What to Remember About Selling a Vessel That Has an Outstanding Mortgage
In some cases, you may have to get permission to be able to transfer ownership of your vessel. You might think: “that doesn’t make sense, I own my vessel, it’s mine.” Yes, but if there is an outstanding mortgage on the vessel that hasn’t been satisfied, you will need permission. Specifically, you’ll need to get the permission of the lender/mortgagee.
This makes sense if you think about it: someone who still owes money on the vessel shouldn’t be able to sell the vessel to another party without first satisfying that lien. Do so, and you’ll be able to sell the vessel. If you wish to change the ownership group before that, however, then you will need the permission of this other party.
Then and only then will you be able to successfully complete the transfer of the vessel’s Certificate of Documentation.
In the event that you do satisfy the vessel’s mortgage, you can find the “Satisfaction of Mortgage” form at our site, too.
Who Can I Transfer Ownership of My Vessel to With This Form?
For the most part, these transfer forms are used to transfer ownership from one person to another. That said, you can transfer ownership to far more than just that. A “Transfer/Exchange” can be with many different parties. Indeed, it doesn’t even have to be a complete change of the ownership group.
To use one example, you don’t have to transfer complete ownership to a new owner – you could simply bring a new one into the ownership group. The types of people who are often brought into the ownership group include spouses, partners, co-workers, and others – some ownership groups are larger than you might think. In the course of owning a vessel, your ownership group may change significantly.
To be clear, you don’t need to just include a person in the ownership group. You may decide to transfer ownership of the vessel to more than just a person, to a company, a trust, etc. So long as they’re qualified to be the owner of a documented vessel, then yes, you can bring them into the ownership group.
Life can take different courses than we initially planned. This Transfer/Exchange form can help with that as well. This is the form to use when one person in the ownership group is no longer interested in co-owning the vessel. Should you need to remove to someone from the ownership group of the vessel, this form can help there, too.
Who Can Co-Own a USCG Documented Vessel?
Individuals have to be citizens of the United States. They can have dual citizenship with another country, but they must be American citizens. So, you can’t bring an individual into the ownership group of your vessel, much as you might like to, who is not a citizen of the United States.
If you’re bringing a trust into your ownership group, there are certain requirements. Both the trustees have to be United States citizens as well as the beneficiaries with an enforceable trust.
As mentioned, yes, you can bring in a corporation to own your vessel. But, even then, their offices must be based in the United States and they have to be managed by American citizens, too.
What to Remember About Selling a Vessel That Has an Outstanding Mortgage
In some cases, you may have to get permission to be able to transfer ownership of your vessel. You might think: “that doesn’t make sense, I own my vessel, it’s mine.” Yes, but if there is an outstanding mortgage on the vessel that hasn’t been satisfied, you will need permission. Specifically, you’ll need to get the permission of the lender/mortgagee.
This makes sense if you think about it: someone who still owes money on the vessel shouldn’t be able to sell the vessel to another party without first satisfying that lien. Do so, and you’ll be able to sell the vessel. If you wish to change the ownership group before that, however, then you will need the permission of this other party.
Then and only then will you be able to successfully complete the transfer of the vessel’s Certificate of Documentation.
In the event that you do satisfy the vessel’s mortgage, you can find the “Satisfaction of Mortgage” form at our site, too.
How Can I Learn About the Owner of a Vessel?
To learn about the owner of a vessel, apply for an Abstract of Title. This Abstract will give you the owner’s name and address. It also very well may include the vessel’s entire chain of ownership. You can apply for an Abstract of Title through our site.
You cannot learn the identity of an owner through our Vessel Documentation Search. The identity vessel owners was removed from the search in 2018.
How Can I Sell a Vessel That Isn’t Documented With the Coast Guard?
If your vessel has not been documented with the Coast Guard, then you will not be able to use this Transfer/Exchange form. In that event, you will need a Bill of Sale. Note: there is no “set form” for a bill of sale. However, we do include instructions for how you can create a bill of sale that includes all of the necessary information.
What is a Boat Bill of Sale?
A bill of sale is a critical piece of documentation required when transferring ownership of an undocumented boat. This legal record ensures that all aspects of the transaction are formally recognized, reducing the likelihood of complications in the future.
How is a Bill of Sale Different From the Transfer/Exchange?
The bill of sale is for undocumented vessels. The Transfer/Exchange is for vessels that have been documented with the United States Coast Guard.
What Should Be Included in a Bill of Sale?
Once you and the buyer have come to terms on the sale, including the agreed price, the next important step is drafting a detailed and accurate bill of sale. This document not only records the transfer of ownership but also serves as proof of the transaction, encapsulating all relevant details about the vessel, as well as information about both parties involved.
The inclusion of comprehensive and correct information in the bill of sale is paramount. This document lays the foundation for a smooth ownership transfer and helps establish a clear and binding agreement between the buyer and seller.
Neglecting to address key details can lead to disputes or delays, underscoring the importance of accuracy and thoroughness during its preparation.
When creating a bill of sale, one of the primary considerations is documenting all relevant information about the vessel itself. This includes its Hull Identification Numbers (HINs) and state registration numbers. Additionally, you’ll need to provide details about the engine, such as the year of manufacture, make, model, and serial numbers. These elements ensure the vessel is uniquely identifiable and that there are no ambiguities regarding what is being sold.
Equally important is the inclusion of accurate contact information for both the buyer and the seller. Providing these details helps establish a reliable line of communication should any follow-up be necessary.
While not always legally required, including the purchase price on the bill of sale is often a good practice. It adds clarity to the agreement and may help prevent misunderstandings later on. The specific legal requirements for what must be included in a bill of sale can vary based on the jurisdiction and the type of vessel being sold, so it’s wise to familiarize yourself with the applicable regulations.
Although we don’t offer a dedicated bill of sale form on our platform, this guidance can serve as a framework for drafting your own. When in doubt, it’s better to err on the side of including more information than less. A more detailed bill of sale provides stronger evidence of the transaction and leaves less room for misinterpretation, especially if any disputes arise.
What Do I Do Once the Bill of Sale is Completed?
Once the bill of sale is completed, the next step is to have it signed. The seller’s signature and the date must appear on the document to formalize the agreement. This step is crucial in protecting the interests of both the buyer and the seller. Ensuring that the seller is present during the signing can further mitigate risks of fraud and verify the accuracy of the information provided. A clean and precise record is key to avoiding potential disputes and ensuring that the sale is finalized without complications.
After the signing, it is essential to prepare two copies of the completed bill of sale. One copy should be given to the buyer, while the seller retains the other. Each copy must include a unique identification number in the top right corner. This practice ensures that both parties possess identical versions of the document, which is critical for maintaining clarity and mutual understanding regarding the terms of the sale.
Should these documents ever be required in legal or official circumstances, their quality and appearance could reinforce their validity.
By adhering to these steps and ensuring all necessary information is included, the process of transferring ownership can proceed seamlessly. A well-prepared bill of sale not only fulfills legal requirements but also offers peace of mind to both buyer and seller, serving as a reliable record of their transaction.
To learn about the owner of a vessel, apply for an Abstract of Title. This Abstract will give you the owner’s name and address. It also very well may include the vessel’s entire chain of ownership. You can apply for an Abstract of Title through our site.
You cannot learn the identity of an owner through our Vessel Documentation Search. The identity vessel owners was removed from the search in 2018.
How Can I Sell a Vessel That Isn’t Documented With the Coast Guard?
If your vessel has not been documented with the Coast Guard, then you will not be able to use this Transfer/Exchange form. In that event, you will need a Bill of Sale. Note: there is no “set form” for a bill of sale. However, we do include instructions for how you can create a bill of sale that includes all of the necessary information.
What is a Boat Bill of Sale?
A bill of sale is a critical piece of documentation required when transferring ownership of an undocumented boat. This legal record ensures that all aspects of the transaction are formally recognized, reducing the likelihood of complications in the future.
How is a Bill of Sale Different From the Transfer/Exchange?
The bill of sale is for undocumented vessels. The Transfer/Exchange is for vessels that have been documented with the United States Coast Guard.
What Should Be Included in a Bill of Sale?
Once you and the buyer have come to terms on the sale, including the agreed price, the next important step is drafting a detailed and accurate bill of sale. This document not only records the transfer of ownership but also serves as proof of the transaction, encapsulating all relevant details about the vessel, as well as information about both parties involved.
The inclusion of comprehensive and correct information in the bill of sale is paramount. This document lays the foundation for a smooth ownership transfer and helps establish a clear and binding agreement between the buyer and seller.
Neglecting to address key details can lead to disputes or delays, underscoring the importance of accuracy and thoroughness during its preparation.
When creating a bill of sale, one of the primary considerations is documenting all relevant information about the vessel itself. This includes its Hull Identification Numbers (HINs) and state registration numbers. Additionally, you’ll need to provide details about the engine, such as the year of manufacture, make, model, and serial numbers. These elements ensure the vessel is uniquely identifiable and that there are no ambiguities regarding what is being sold.
Equally important is the inclusion of accurate contact information for both the buyer and the seller. Providing these details helps establish a reliable line of communication should any follow-up be necessary.
While not always legally required, including the purchase price on the bill of sale is often a good practice. It adds clarity to the agreement and may help prevent misunderstandings later on. The specific legal requirements for what must be included in a bill of sale can vary based on the jurisdiction and the type of vessel being sold, so it’s wise to familiarize yourself with the applicable regulations.
Although we don’t offer a dedicated bill of sale form on our platform, this guidance can serve as a framework for drafting your own. When in doubt, it’s better to err on the side of including more information than less. A more detailed bill of sale provides stronger evidence of the transaction and leaves less room for misinterpretation, especially if any disputes arise.
What Do I Do Once the Bill of Sale is Completed?
Once the bill of sale is completed, the next step is to have it signed. The seller’s signature and the date must appear on the document to formalize the agreement. This step is crucial in protecting the interests of both the buyer and the seller. Ensuring that the seller is present during the signing can further mitigate risks of fraud and verify the accuracy of the information provided. A clean and precise record is key to avoiding potential disputes and ensuring that the sale is finalized without complications.
After the signing, it is essential to prepare two copies of the completed bill of sale. One copy should be given to the buyer, while the seller retains the other. Each copy must include a unique identification number in the top right corner. This practice ensures that both parties possess identical versions of the document, which is critical for maintaining clarity and mutual understanding regarding the terms of the sale.
Should these documents ever be required in legal or official circumstances, their quality and appearance could reinforce their validity.
By adhering to these steps and ensuring all necessary information is included, the process of transferring ownership can proceed seamlessly. A well-prepared bill of sale not only fulfills legal requirements but also offers peace of mind to both buyer and seller, serving as a reliable record of their transaction.