Transfer of Ownership Form

Vessel Transfer of Ownership Form: More Than Just Buying a Vessel

Has it come time to sell your vessel? Or, alternatively, have you closed a deal and are going to buy a new vessel? Should that be the case, then it’s probably time to utilize the vessel transfer of ownership form at our site. This is the form that will enable you to transfer ownership of the vessel from one person to another. That said, it can do a lot more than that. Like so many of the forms at our site, we’ve found that sometimes folks are unaware of just everything that this form can do. 

Everyone You Can Transfer a Vessel To 

For the most part, these transfer forms are used to transfer ownership from one person to another. That said, you can transfer ownership too far more than just that. For example, you don’t have to transfer complete ownership to a new owner – you could simply bring a new one into the ownership group. This happens often with spouses, partners, and so forth. That said, you can also use this form to transfer ownership of the vessel to more than just a person, to a company, a trust, etc. Additionally, this is the form to use when one person in the ownership group is no longer interested in co-owning the vessel. 

Transfer of Ownership Form

What to Keep in Mind About the Vessel Transfer of Ownership Form 

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. Then and only then will you be able to successfully complete the transfer of the vessel’s Certificate of Documentation. 

What to Do Before Your Buy a Vessel 

Whenever possible, we strongly recommend that folks, before they buy a vessel, get an Abstract of Title. This form can tell you everything you need to know about a certain vessel before you give someone your money. When the vessel was manufactured, where that took place, if there are any liens and mortgages on it that haven’t been satisfied – that’s just some of what you’ll know. The more information you have, the better position you’ll be in to make a good purchase. 

Vessel Documentation When and How You Need It 

Speaking of the Abstract of Title, that’s often the very next form of vessel documentation that a vessel owner gets with us. After all, they’ve just sold a vessel, and they’re feeling that calling to get back out on the water. Indeed, when you want to go out on the high seas and use your vessel how you want, we have the vessel documentation that can help you to do exactly that. You can find all of the different forms of vessel documentation that we offer right here.