Boat bill of sale is a legal document that validates a user to sell, transfer or gift his boat to other person. The details included in it should be carefully checked and validated. This piece of agreement provides benefit to both the ends, seller as well as buyer. Legally speaking, it is mandatory to attest bill of sale of any type.
Agreement consist of various details like seller as well as buyer name and address, boat make, model, year of manufacture, chassis number, engine etc. Further it would need an attestation from buyer, seller and witness.
Major port areas of the world refer to legal document before sale/resale or purchase of the boat. It streamlines the process of buying and selling for professional as well as personal use. Most of government and legal organisations encourage transaction with validated bill of sale. Due to such high demand in sailing industry, this contract has gained major importance and will be more strictly implemented in comings years
This straightforward process benefit in many ways listed below:
- Tax reporting
- Best price for boat
- Registration verification
- Legally approved
- Maintaining record
- Proof of ownership
- Warranty information
- Boat machine proof
- Prevents fraudulent activities
- Insurance benefits
Most of the seller and buyer ( professional team as well individual) wants a validation thru legal agreement before transaction. The template is readily available on internet as well at notary club. Bill of sale template can be customised as per users information.