What information is required on a bill of sale for a boat?
When selling a boat, it is important to have a bill of sale form to document the transaction. This form should include specific information about the boat, such as the make, model, year, and hull identification number (HIN). It should also include the names and addresses of both the buyer and seller, as well as the date of the sale. The bill of sale should be signed and dated by both parties, and the seller should retain a copy.
What is the statute of limitations for a bill of sale?
The statute of limitations for a bill of sale is typically three years, but it may vary depending on the state where the sale occurred. If there is any dispute over the boat's ownership, the bill of sale can be used as evidence in court.
What is the process for transferring ownership of a boat?
To transfer ownership of a boat, the buyer and seller must complete a transfer of ownership form, which is available from the DMV. This form must be signed by both parties and notarized. The buyer must then submit the form to the DMV, along with the bill of sale and any other required documentation, such as proof of insurance. The DMV will then issue a new registration in the buyer's name.
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