When it comes to the selling and/or buying of a boat, it isn’t quite as simple as just paying for the vessel and getting on with your ownership. There is a checklist of requirements that needs to be completed. Along with the financial transaction, there is also a whole host of paperwork that has to be produced in order to ensure that the switch in ownership is verified and legally recognized. One of the most integral inclusions in this pile of paperwork is the Bill of Sale. To help you with your own prospective vessel buying, here is some information about what a boat Bill of Sale form is, and how to write one.
What Is A Bill Of Sale?
In basic terms, a Bill of Sale is a type of legal document that serves as proof of the transfer of an item from a seller to a buyer. You can think of it in the same way as you would a receipt from a store, but with considerably more legal power. Bills of sale tend to be used for larger purchases like cars, appliances, machines, and in this case boats.
Being used to show the transfer of ownership, a Bill of Sale can be used as proof of ownership should there ever be a dispute, and the document can also be used to change the vessel’s titles, add insurance and update the registration with the state authorities or the US Coast Guard.
What Does A Bill Of Sale Include?
Specificity is very important when drawing up a Bill of Sale. You should use as much detail as possible to make the transfer between seller and buyer as clear as possible. Along with any extras that you both specify, the essential information included on a Bill of Sale will always be:
- The names, ID info and contact information for both the buyer and the seller in the situation.
- The boat information, including everything from VIN to make to model to year to registration number.
- The final price that has been established between the seller and the buyer.
- The conditions of the sale that have been agreed between the seller and the buyer, including any warranties or ‘as is’ status.
To make sure that you include everything you need to do, it can be helpful to either seek online assistance or seek out a comprehensive template for a Bill of Sale that will ensure you don’t miss anything vital that could cause confusion later down the line.
If you would like some professional assistance with your boat Bill of Sale form, or any other type of vessel-related document, then don’t hesitate to contact us at the US Vessel Documentation Center where you will find everything that you need. We are the best resource for help and guidance when it comes to official and relevant vessel documentation, and there is always a member of the experienced team ready to lend a helping hand. We look forward to being able to assist you.
