A boat trailer bill of sale is required when you sell a boat. This document is not required for a trailer, which usually comes with the boat. The document does have its uses and it is a good idea to have one so you do not miss anything in your deal. When you go to purchase a boat, you can check out the trailer too to see if there are any damages to it.
There are some things that you should be aware of when you are going to create your bill of sale. This document has a certain amount of importance to your sale. If you miss out on a clause in your documents, then it is as if you sold your boat to someone who did not have a clear title.
The document is also a required document for your title search. You can get your title search started with this document. The search will allow you to know who owns the boat and what they have paid for it. By knowing the details of the sale, you can start preparing for your boat sale so that it goes smoothly.
One of the most important parts of a document is the title. In case of a sale where the boat is still registered, you can obtain the document from the Registry of Deeds. However, if your boat has been unregistered, the document has to be obtained from the DMV office of the state where you are selling the boat.
Certain things should be included in the document. The title statement is the first section of the document. It should indicate the name of the person or business that is selling the boat. The name and address of the buyer should also be written in the document. The other section is the cash receipt, which is an official document that details how much was paid for the boat.
The second section of the document is called the damage report. The report should show if the damages to the boat have been repaired or not. This is important because you need to give the right answer to the seller in case the repairs were not carried out. The third section is the indemnity. This section should clearly state that the seller will pay to the buyer in case they file a claim for a boat.
The fourth section is the date of the document. This section can also be dated if the date is not fixed. This document must be signed by both parties. This is very important especially if there are minor children in the home. The document must be witnessed by a person, who is an expert in the field of marine life.
The document is not that hard to write and it is only advisable to follow a proper boat trailer bill of sale template so that all the formalities can be included in the document. This will make the document a legal one.