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Why is a Boat Bill of Sale Necessary?

A Boat Bill of Sale is the name given to a document that has information associated to a boat’s sale. It is used strictly for the sale or purchase of a boat. It might be used for selling a used or new vessel, or even for selling a handmade boat. The boat being mentioned in this type of document might be sold by a private citizen or a dealership. In case the sale includes a motor or trailer, you would like to also include that information in your document. Find out why it is necessary.

Serves to protect both parties

This kind of sale form protects buyers as well as sellers from any issues that might crop up in the future, such as the possibility of the boat getting stolen or for registration purposes.  With so many transactions being made with cash, this is a proof of the fact that the payment for the vessel was made in good faith. This type of vehicle bill of sale keeps buyers safe from stolen goods. The customer has full proof of payment, which can help him to avoid any questions at a later time.

Useful during registration

All states have a registration process for boats. In some states, owners are required to register the boat by showing a purchase proof that lists a number of things – such as the hull ID number and the selling price.

Insurance and other purposes

Other than the two commonest reasons that the parties involved need to have a copy of the bill of sale, it can prove to be useful in plenty of other situations. In case you live in a state where boats have to be insured, it is possible that you will require legal documents such as a bill of sale that can serve as a definite proof that you are the boat’s owner. Visit this website to download Arizona bill of sale form and other legal forms for free.

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