What Does A Transfer Exchange Of USCG Documentation Mean?

Whenever you buy or sell a boat, you will need to submit documentation to the USCG. Filing the right report to the Coast Guard will mean that you are now the owner of the boat, or have transferred ownership to another person. This can be especially important to ensure that the Coast Guard is speaking to the right person when they want to talk about the vessel and to make sure that you are not liable for someone else’s mistake. To ensure that this transfer of ownership goes through correctly, you will need to submit documentation that relates to the transfer or exchange of USCG documentation for the vessel. There are a few ways that you can do this, but getting help from the Vessel Documentation Center can make the whole process much easier.

 transfer exchange of USCG documentation

The Most Basic Transfer

By far the most basic forms of transfer involve the use of a vessel bill of sale. This is a form that is given to the buyer by the seller and allows you to submit evidence that you have bought this boat. For sellers, they can be vital evidence that you have made a transfer of ownership and are no longer liable for anything that is done with the boat. Trying to buy or sell a boat without this Bill of Sale documentation can make everything much harder, and could also lead the seller into hot water with the Coast Guard. The buyer needs the document to show that they are the legitimate owner of the boat, or they could be in hot water with the Coast Guard. Using this document on your transfer forms will allow the USCG to make essential changes.

Other Ways To Transfer Ownership

Sometimes, you may not be making a sale or purchase of a vessel, but adjusting ownership after there have been changes in your relationships. For example, one of your co-owners may decide to sell you their share of the boat or may withdraw from ownership. You may have separated from your spouse, or have married. In these cases, the ownership of the vessel needs to be changed using a transfer-exchange system. Many people use this documentation when they pay off the mortgage on their vessel, allowing them to obtain total ownership of the vessel and removing the lender as a claimant on the vessel.

Handling Documentation

Making a transfer exchange of USCG documentation can be easy if you get knowledgeable assistance when submitting the paperwork. We know that most boat owners need help with completing the forms correctly, particularly where vessel ownership is concerned. Vessel Documentation Center can help you to complete these forms at the first attempt, and our teams will check your application to ensure that it is free of errors and is not missing documentation. To find out how we can help you with ownership changes, purchases, or any other types of application to the Coast Guard, contact the team today via email, or by calling us at 1 (866) 981-8783 now.