Millions of people go boating in the United States every year so it’s no surprise that you might want to sell your boat and buy a different one at some point in time. In either case, there will need to be a transfer of ownership form, whether you are transferring ownership of a boat or purchasing a vessel that is being transferred to you. Wondering how the process works? Keep reading to find out.
To successfully transfer ownership of your boat, you will need to prove ownership. This can be done using a state title, a bill of sale, or the United States Coast Guard documentation. Even if your boat is not registered, or you are selling it “as is,” you can use a bill of sale to prove that you currently own it and are legally able to sell it. The transfer of ownership may vary from state to state, so keep that in mind if you are using a state title to prove ownership.
Where to Find the Transfer of Ownership Form
For most purposes, transfer of ownership becomes necessary for vessels registered with the United States Coast Guard, which are generally those that are at least 26 feet long and measure 5 net tons. In this case, you can find the form on the right side of the Vessel Documentation Online website. Navigate to the transfer/exchange tab to find the transfer of ownership form. Click on the form and you will be directed to where to input the necessary information to finalize the form.
Information Necessary to Complete the Form
Before filling out a transfer of ownership form, you will need to have some important data handy. That includes the vessel name and hailing port, the hull identification number, as well as your personal contact information. That includes your name, address, and other ways to get in touch with you. You will then have to identify the purpose of the request. You can pay the fees when you submit the document. Then you simply need to wait for approval. This form also allows you to add or remove owners or change the name and hailing port associated with the boat.
Things to Keep in Mind
Some final considerations can help ensure a speedy and efficient transfer of ownership. Be sure you double-check the information before submitting the form. Correcting errors can extend the waiting time for approval and can result in additional fees. Do the same before you accept the transfer of ownership for a boat you are buying. This cuts down on hassle down the road if you detect an error after being boarded or are ready to sell the boat to someone else. It’s better to spend a few extra minutes checking for mistakes before submission. A completed transfer of ownership form is an important part of buying or selling a boat. It needs to be completed in a timely manner so that you are operating a boat legally. If you have questions or need assistance getting through the process, you are in the right place. Contact the Vessel Documentation Online and we can guide you through each step.