The time has come to bid farewell to your old and beloved vessel. You sure had your fair share of adventures and stories together, but now you have to let go. Maybe the family has grown and now you need a bigger ship to enjoy your weekends, or perhaps you want to go for something simpler and smaller. Whatever reason gets you to let go of your vessel, appropriate documentation is required. Learn why it’s important to a bill of sale for boats and how to process it.
What Is A Bill Of Sale For Boats?
Understanding what is the proper paperwork you have to deal with to sell your boat helps to bring light into the transaction between you and the potential buyer, or if you want to say so, the future owner. If you get everything done right, you can spare yourself from unpleasant surprises in the near future.
A bill of sale for boats transfers the ship’s ownership from one party to another, in this case, from you to the new buyer. This documentation is mandatory for every vessel licensed under the Pleasure Craft Licence system, and it is important as it makes the ownership transfer official making you completely free from any responsibility and obligation regarding the vessel once it is signed. Remember to create the bill of sale before the money is on the table. Handling things responsibly helps to get a better deal.
What Shall The Bill Of Sale For Boats Include?
Now that you are aware of the importance of the bill of sale for boats, you might be wondering what information you need to specify in it. Every detail about the ship is important here. Don’t get confident about the amount of information on the paper; the clearer the contract, the smoother things will go for the seller and the buyer.
Bear in mind that you have to provide data not only of the ship itself but also of the parties interested in the transaction. Vessel information includes type, model, manufacturer, year, paint color, serial number, and any important defining features on the boat. Clear details avoid future claims. Parties’ information must specify the names, physical and mailing addresses, and signatures. Make sure the current day is pointed out as well.
Important additional information can be registration information, which is found in the title documents. You can add an ‘as-is without any warranties’ clause, so it is clearly defined you are not liable for any imperfections or flaws of the boat.
Getting Down To Business
If you are soon to close a deal about your ship, double-check the info you need to write down. The Internet has many templates and models for you not to miss a thing. Contact us at Canada Transport if you have any further questions regarding a bill of sale for boats.