If you are the boat owner, you are well aware of the need to maintain accurate records of ownership and registration for your vessel. When transferring ownership of a yacht, a boat bill of sale is one of the most influential papers that must be included. We will guide you through the steps of completing and filing a yacht bill of sale form in this article that we have published on our blog. You can guarantee that the transfer of ownership proceeds without a hitch if you follow these straightforward procedures. The following are some simple processes that may be followed to finish and file a boat bill of sale form.
Determine Who Will Complete the Boat Bill of Sale Form
Make sure you know who will be filling out the Bill of Sale for your yacht before you begin, according to mass.gov. The boat Bill of Sale is often completed jointly by the buyer and seller. Even so, if there are any questions, it is better to have a third-party witness present to help clarify things. However, it is always a good idea to check with your state’s DMV to determine whether witnesses are necessary. In order to sign the Bill of Sale, you’ll need a witness, who is usually someone who was there at the sale. As a witness, the person should also be someone who was not engaged in the deal. If you’re trading in your boat for a vehicle, have someone with no prior knowledge of automobiles there to witness the transaction. Buyer and seller should both sign the Bill of Sale beneath the lines “Witnessed by:” if no one is present to act as a witness to the transaction.
Make Sure Both Parties Have an Original or Certified Copy of The Bill of Sale Form.
Make sure that all parties have a copy of the original boat bill of sale form or a document that has been certified. The bill of sale should include your signature and the date at the bottom, as should every component of the form you fill out. Be careful to fill out your driver’s license information, as well as your phone number and home address, and also make sure the seller does the same. Your email address and social security number are not required to be revealed by law at any point in the process. A copy of the vehicle’s title and registration certificate should be attached to the front of the bill of sale. You should attach a copy on the back if it is not yet an official document but will be short. Produce physical copies of this form for all involved parties so that they may keep a record of it and file it away safely.
Fill Out the FORM
Make sure that the FORM is filled out completely, including all the relevant information, such as the make, model, and year of your vessel, the purchase price, etc. The next step is to locate the area on the back of the FORM where you may put your signature. To be able to sign, you need to be above 18; however, anybody else may fill out the form on your behalf. This indicates that if you have children who will be assisting you in the future with the purchase of your yacht or the maintenance of your vessel, they can legally do so on your behalf even if they are still minors and sign documents on your behalf. Remember that any modifications made after signing are null and invalid; therefore, if you discover a mistake after signing, it is preferable to start again and rewrite the document with all the required revisions. If it comes time to sign, remember that any changes made after signing are null and worthless.
Make Sure Both Signatures Are On File
It is crucial to ensure that the transfer of ownership of a boat is correctly documented if either party is planning to acquire or sell a vessel of this kind. In addition to acting as evidence of ownership, a bill of sale may be used for reasons relating to taxes and insurance. Before submitting the bill of sale form to the county clerk, you must first ensure that it has been signed by both you and the seller. If you purchase a boat from a private party, the person who witnesses your signing must be at least 18 years old. Bring not one but two kinds of identification whenever you purchase from a dealer so that they can verify your identity.
You must transfer ownership if you recently bought a boat or purchased it from an individual or yard without a title. A bill of sale is used. Purchasing a boat without one might affect insurance and registration. Call 800-535-8570 us today to initiate your boat bill of sale form. They’ll guide you through each stage and assure accuracy.