A boat bill of sale is an administrative document used to signify any transactions made for a watercraft. This watercraft can be a motorized or a non-motorized vehicle. The bill of sale for boats and trailers is often a legally required document used to register the craft after its purchase. Each state and country has its version of bill of sale for boats and other watercraft. Be sure to check the exact format and document required by your state and country to avoid any problems.
In this article, we will dissect everything there is to know about the boat bill of sale- how to make one and the use cases for such a document.
What Is a Bill of Sale for Boat?
A bill of sale for boat is a vital document required when you are planning to sell your watercraft. It helps establish a clear line of ownership and protects the individuals involved in the transaction from any fraud.
These watercraft types require a boat bill of sale: Tugboat, rowboat, powerboat, yacht, kayak, jet ski, cabin cruisers, fishing boats, trailers, and canoes.
Who May Need a Boat Bill of Sale?
We have created a brief list of people and organizations who may require a bill of sale for your watercraft.
- A bill of sale for boats can be used by any individual or business looking to buy or sell their watercraft.
- It works as proof of sale and ownership for anyone who owns the boat or any other watercraft.
- Any government agency may require proof of purchase in the form of a boat bill of sale.
Key Elements of a Boat Bill of Sale
Some key elements are required in a bill of sale for a boat. These details make sure that you have a valid legal document indicating the sale. The key elements are as follows:
- Information on the boat: this includes all the information about the condition and make/model of the boat. Data required for the bill includes the make, year, title number, horsepower, odometer, and boat Hull ID. Such details are typically located on the side of the motor or the documents provided by the manufacturer.
- Information of the buyer: this includes the name and signature of the buyer. The signature can be a physical or a digital signature.
- Information of the seller: this includes the name and signature of the seller. The signature can be a digital or physical signature.
- Price: the amount that has been negotiated between the seller and the buyer. This should also include the price breakdown of the transaction to maintain clarity and transparency.
- Location: this refers to the location where the transaction has taken place. The country and state are mentioned in the Certificate of Acknowledgement.
- Notary acknowledgment: this is where the signature of the notary goes. The notary is a legal authority who oversees and notarises the transaction process. Their presence is crucial to authenticate and legitimize the document.
Making a boat bill of sale is a simple process, and it can easily be made online. CocoDoc has several simple boat bill of sale templates that can be used to create the most appropriate document for your needs. These documents are free and printable, making them widely accessible and applicable for all intended purposes.
Use Cases of the Boat Bill of Sale
The most important and valuable case of a boat and trailer bill of sale is when people are looking to buy or sell their watercraft. This can be used when there is an agreement between two individuals with regard to the boat. It can also be used as proof of negotiations and the final transaction conducted between two parties. It is a crucial legal document to keep as an owner of a watercraft.
