Re: documented vessels
kj, documenation ensures a good title to the next buyer. So even if your boat is smaller, cheaper, older, and you have no interest in maintaining the documented status?
It may be worth your while to have the documentation updated to your name (it is a free renweal annually after you have it changed) because sooner or later, when you go to sell the boat...The next buyer knows they are getting a clean title when they are buying a documentated vessel, and that may be well worth the hundred dollar cost you pay now.
There are different legal obligations and benefits to the owners of documented vessels as well, but those have gotten fewer and fewer and apply mainly when you are out of US waters.