If you are planning on selling your boat, you will need to do your research about the US Coast Guard documented vessel bill of sale and how it might apply to you. These documents can be the best way to settle your connection to a vessel and ensure that you are not blamed for any problems that are discovered after the boat has left your ownership. If you ever need to prove that you are no longer the owner of a particular vessel, then you will need to have a Bill of Sale document ready. Understanding exactly what this document is can make the process of getting it a lot easier.
Why Do You Need A Bill Of Sale?
Privately selling a vessel means that you need to conduct a transaction with the new owner of your old boat. The bill of sale shows that this transfer of ownership was completely legal. It is necessary because the new owner is likely to take out financial liens on the boat, such as mortgages, and you need a way of proving that you are not the person responsible for them. The bill of sale will also protect you if there are any legal problems involving the boat, such as fines, which might otherwise be your responsibility. It will also be important for tax reasons, and you don’t want to miss out on any documentation that is required by the Revenue Office. That documentation is vital if you want to avoid any further connection to the vessel in the future and serves as a way of protecting yourself from anything that happens to the boat after you are gone.
US Coast Guard Documented Vessel Bill Of Sale: Who Needs The Bill Of Sale
As is made clear above, the seller has a vested interest in obtaining this bill of sale, but it can also be very useful for the buyer. Buying a boat will be thrilling for that person, and it may be the first vessel that they have ever owned. They need the bill of sale because it offers proof that they own the vessel, which is important when it comes to dealing with mortgage providers and accountants. It is also necessary if they intend to apply for a certificate of documentation, so you can see how important it is that the bill of sale is obtained and completed as quickly as possible.
Get Help With Obtaining A Bill Of Sale
If you are in the process of selling your boat, then you need to obtain the US Coast Guard documented vessel bill of sale as soon as possible after completion. You will need to fill in the forms provided by USCG, and you may also need the assistance of the Maritime Documentation Center in order to make sure that everything is completed correctly in the first attempt. We can help you manage your forms and documentation to the satisfaction of the USCG, so find out more about how we can assist you today by completing our online enquiry form or by calling us at (800) 535-8570 now.