Documented Boat Transfer in Maryland
I am buying a partnership in a boat in Maryland. I have already prepared a partnership agreement with the new partner (thanks to the postings on this Forum ).
The boat is presently registered ONLY to the partner that is leaving the partnership and he is the person that will be receiving the $$$ from me. The title is clear.
The boat is documented and kept in Maryland. I will will meet with the two partners to sign papers and give the departing partner $$$ next week.
1. what is involved with retitling the boat in my name and the partners name?
I assume the Fed. Gov. is involved. The selling partner wasn't very clear on procedure since he bought the boat from a dealer
2. what does the state of MD require?
3. Any other advice, observations or experience will be greatly appreciated.
Jim (on the Beautiful Chesapeake)