Create a Boat Bill of Sale Form With Template!

What Do You Mean by Boat Bill of Sale?

A bill of sale is known by various names, but it is evidence of payment and documentation that a product has been transferred from one owner to another. It is a document that a boat vendor has used to document the sale of the boat to a buyer.

It might be used for brand-new boats, used boats, or even a free vessel that is being given as a gift. On the other hand, the sale document also serves as a receipt for the buyer. This particular document includes seller information, details about the merchandise, the location of the sale, the cost, buyer details, and the mode of payment.

Most of the bills of revenue for the ships are regulated at the state level. While this happens, the invoice of sale should incorporate each element that is required by the law. Both the purchaser and co-purchaser, along with the vendor, should sign the record.

A boat bill of sale describes any of the pre-existing warranties associated with the boat.

In this manner, the record is different from a sales agreement. A sales agreement contains:

• Alternative Names
• Vessel Bill of Sale
• Proof of Purchase
• Proof of Sale
• Sale Slip
• Sale Receipt
• Evidence of Payment

What is a Boat Bill Used For?

A boat bill of sale is used strictly for buying or selling a ship. It can be utilised for the sale of a new or used boat. It can even be used for a handmade vessel. The ship might be offered for a dealership or can also be provided to a private citizen. If the sale includes a motor, then you will want to include this info in the file as well.

A sale form of this category protects both parties from further problems like the boat being stolen. Provided many trades are made in cash, there is evidence that the item was paid for in good faith and with suitable documentation which protects the buyer of stolen goods.

Each state has a procedure for registering boats. Some states require the owner who is registering the ship to have proof of purchase that lists items, including the selling price and hull ID number.

Who Should Use a Boat Bill of Sale?

A boat bill of sale should be used by anyone who is looking to purchase or sell a boat, whether:

• You are using a site or a commercial portal.
• You are trading ships and things associated with them.
• You are selling or purchasing a secondhand boat.
• You are selling or purchasing a boat via a commercial outlet.

Why is a Boat Bill of Sale Important?

A boat bill of sale is essential for the following reasons:

• It is a legal document that confirms the purchase of a boat by the mentioned buyer.
• The boat bill of sale is the proof of ownership, which means that the buyer can register a purchased boat with legal measures.
• As the bill is a complete agreement form, it frames the possible future dispute resolution procedure.
• The bill can be provided as a dispute management with facts and formal reasoning.

Components of a Boat Bill of Sale

• Legal name and address of the buyer.
• Name and address of the vendor.
• Date of the sale.
• Sale Price.
• Make, model, and year of the ship.
• Hull Identification Number.
• Previous registration number and name number.
• Whether the ship has an outboard motor or not.
• Whether the ship is equipped with a trailer or not.
• Principal color of the boat.
• Any secondary color.
• Title Certificates.

What Information Should I Include About the Seller?

• Address
• City
• Province
• Zip code
• Phone Number
• Email

How Can You Compose a Boat Bill of Sale?

Below, we have shown the boat bill of sale into three segments.

Date and Contact Information

• The date of the ship is being sold.
• The seller’s initial and last name.
• The Seller’s full address.
• The Purchaser’s first and last name.
• The Buyer’s full address.

Boat Information

• Make
• Model
• Year
• Style 
• Length
• Characteristics
• Location
• Hull Identification Number

When is a Boat Bill of Sale Required?

• Private Sales: As long as a boat is sold privately between the members of the public, a boat BOS is always required to bring to terms the transaction and formal transfer of ownership.
• Dealership Sales: This involves a dealer in the transaction who does not negotiate the need for a bill of boat sale as it will provide clear information about terms of sales and documentation of the sale.
• Gift and Donation: When a boat is demoted as a gift, a bill of sale will be issued to ensure that the transfer of ownership is on paper to avoid further misunderstandings.

What are The Laws Governing the Boat Bill of Sale?

Some of the laws which regulate the boat sales and purchases in the U.S. are:

• Federal Laws: Yes, federal boat sales regulations exist. For example, the FBSA requires that manufacturers’ products meet standards and requirements. Other federal maritime laws that relate to the sale of boats include those on marine safety, environmental protection, vessel documentation, and flagging.
• State Laws: The state in which the transaction is taking place has different state-specific regulations and boat sales laws. These laws might include requirements for the registration of boats, jurisdiction, the transfer of ownership and others. So, depending on different state’s rules and regulations, people make purchases or sales involving boats and the following:
• Boat Registration: State registration of a boat requires vessel registration with a suitable state agency and proof of owed registration. The registration fees should also be paid. The title transfer needs to include the state in which a boat title is issued, and the parties should document the change of ownership.
• Sales Tax: It is not universally required in all the states, but it should be considered by both the purchaser and the seller, who have tax obligations to the state.