BoatWiki - Forms
This form may have legal and tax implications.
You should consult with an attorney or professional about any such concerns.
The Bill of Sale form is designed for transfers of ownership related to boat purchase and sale arrangements. Although subject to change without notice, this version has proven acceptable to both state registration and federal documentation agencies.
The form is provided in Microsoft Word in order to facilitate any changes to its structure or textual content. It is also fielded and tabbable for your convenience. In making any non-fielded alterations, it will be necessary to select the "Unprotect" option from the "Tools" menu of your application. It can thereafter be "Form" protected again to regain the fielding.
Vessel Data: Ensure that all known identification numbers are listed as they
match both the boat itself and any title or registration certificates.
Seller Names: These should match any supporting title, documentation, or registration certificates. A separate bill
of sale should be used for any variations. This should also apply if the full legal names differ
from that shown on the certificates.
Buyer Names: These should be the full legal names of the buyers. Any methods of ownership
should also be shown such as Joint Tenants, Tenants by the Entirety, etc.
Consideration Received: This is often stated as "One Dollar and Other Valuable Considerations. It will then prevent the actual sales price from being
recorded on any documentation or title records. The actual sales price is then later established by other means. However, there may be circumstances where
the total dollar value should be stated on the form.
Terms of Sale: This is typical language common to most
transactions. However, there may be circumstances where this should be changed. Consult with your attorney with any concerns.
Signature: The form must be executed by all sellers along with the current date signed. Name and Capacity of Persons Signing: This should properly identify all signatory parties. Acknowledgement: The form should be signed in the presence of a Notary Public. In doing so, an attachment may be used at the notary's discretion. If executed in a foreign country, the form may also need an apostille, especially for vessel documentation purposes.
Although some state agencies are more relaxed in their Bill of Sale requirements, the Coast Guard is very stringent. All applicable fields should, therefore, be completed in precise terms.
Credits and References
1/27/2022 - Page initiated by Team BoatWiki.