USCG Exchange/Transfer Form & What to Know

USCG Exchange

Have you decided to bring a new co-owner onto your vessel, but aren’t sure which form is right for you? Are you selling your vessel and want to get everything taken care of ahead of time? When it comes to your vessel and its documentation, you want to be as careful and thorough as possible. That means being in compliance with the authorities, but it also means using the right forms, too. The USCG Exchange and Transfer form can be the right choice, so long as you keep a few things in mind. 

USCG Exchange for Bringing on a New Co-Owner? 

Then this is absolutely the right form for your needs. Having a co-owner can make vessel ownership that much easier and more rewarding. They can use it on the days that you don’t. Additionally, they can split the costs, the maintenance, and so forth. It makes all the sense in the world if you want to bring someone on as a co-owner. That’s true whether it’s a business partner, friend, family member, new spouse, or anyone else. You can use this form to be in compliance with the proper authorities. 

Is the Vessel Changing Hands? 

In those cases, this is again the right form. To be clear, “changing hands” could mean that one of the vessel owners has decided to move on from co-owning the vessel. Another definition of “changing hands” is that all of the owners have decided to sell the vessel to someone new. These are all, well, transfers and exchanges. Remember: vessels can be sold to more than just individuals. This is also the proper form if you’re selling your vessel to a trust, company, or anything of that nature. 

USCG Exchange and Transfer Reminder

With many of our forms, you fill it out yourself, send it in, and then you get your documentation. This form is not like that. Should there be an outstanding mortgage on the vessel, then that will need to be satisfied before the vessel’s Certificate of Documentation is transferred. If that’s not the case, then it is possible to get permission from the lender (mortgagee) to complete the form. Without that, the form isn’t valid. So, word to the wise, before you send this form in to us, make sure that all of that is taken care of on your end. 

The Forms for Vessel Ownership

Making sure your ownership is in compliance with the law and authorities is important. However, it’s not the only form of vessel documentation. In fact, you can find all of the other ones that you’ll need at our site, too. After you’ve transferred ownership successfully, that Certificate of Registration will need to be renewed every year. You can do that through our site, or you can actually renew it for up to five years in advance, too. To see all of the different ways that we can help vessel owners just like you, head to our site. For questions, you can call us at (866) 981-8783.