The right documents must accompany transactions involving the purchase and sale of boats. The boat bill of sale is the primary document used for this purpose. It contains vital information regarding the seller and the buyer of the vessel. Other names that refer to a boat bill of sale are Vessel bill of sale, watercraft bill of sale, boat sales contract and bill of sale for boat.
The boat bill of sale isn’t limited to transactions involving boat only; it caters for other water vessels such as cabin cruiser, ferry, canoe, fishing boat, jet ski, kayak, yacht, power boat, sailboat, rowboat, skiff, tag boat among others.
Importance of a boat bill of sale
The document will prove the legality of the transaction. If you have never done the transaction at any other time, using sample boat bill, of sale can save you time and any associated risks. The templates provide the format and other vital details that must appear in this important document.
The boat bill of sales acts as the valid document to transfer ownership of watercraft from the seller to the buyer. You can use this document for transactions involving both new and old water vessels. Besides filling in the required details, the document must contain signatures of the seller, buyer, and witnesses to confirm the transaction took place.
The document should only be signed after the buyer pays for the vessel, and the boat has been delivered to the buyer.
A boat bill of sale is only used for transactions involving watercraft. If you need to seal a transaction involving other products, you’ll need to use a general bill of sale or the specific document for sale.
What does the boat bill of sale include?
Though preparing the document and negotiating for the sale might be tasking, the document isn’t complicated. It captures relevant details that ascertain the validity of the transaction.
These are some necessary details that must feature on the document:
- The legal names and addresses of both the seller and the buyer
- License of both seller and buyer
- Price: The price the seller has agreed to sell the boat must feature in the document. Besides, relevant information such as how the payment will be made should also be included.
- Vital information about the boat such as the vehicle identification number (VIN), the model and make of the vessel must feature in the document.
- To make sure the transaction is valid; the boat bill of sale must be signed by the seller, buyer, and the witnesses.
- Any disclosure about the vessel must be indicated. If the vessel has any cosmetic or engine problems, this information should be shared among the parties in writing.
Other vital details that should appear in the boat bill of sale include:
- The date of the sale
- The year of manufacture
- Hull identification number
- Previous title number and registration number if available.
- The main color of the boat
- Any secondary color
- The title certificate
- If the boat includes an outboard number, you must include these details (the serial number of the motor, its make, and horsepower should be indicated)
- A lien release (specific for boat sales)
In addition to the above details, most boat bill of sale documents also features an as-is clause. This clause means the buyer has purchased the vessel in its present condition.
Any apparent or potential faults are covered by this clause. This clause will protect the buyer against any claims of refund after the transaction is over in case the boat develops and issues.
Free boat bill of sale forms
When should you use a bill of sale?
A boat bill of sale is used by either a seller or buyer of a bot in either of the following circumstances:
- If selling boats or related vessels
- If using a trade portal or websites) such as craigslist)
- If selling or purchasing boats and related vessels
- If buying or selling boats through a commercial outlet
- If you have purchased a watercraft from an individual and not a dealer
After all, parties sign the boat bill of sale, the buyer and seller must get a copy of the document. Additionally, a digital replica of the document should be availed to the parties.
Responsibilities of the seller
After the transaction is over, the seller should inform the specific state agency about the transaction. The details the sealer will share with the state agency are similar to what an ordinary vehicle sale demand.
This information is available from the boat bill of sale document, and any other details will come from the sales contract. If the seller has offered to provide warranty or extra materials like boat maintenance products, boat covers, or boat replacements, they must adhere to these promises.