Bill of Sale Question - Ownership - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > On Board > Boat Review and Purchase Forum
 Not a Member? 


Like Tree1Likes
  • 1 Post By hellosailor
Reply
 
LinkBack Thread Tools
  #1  
Old 08-31-2013
boknows's Avatar
jimbo
 
Join Date: Jul 2013
Location: georgia
Posts: 91
Thanks: 18
Thanked 0 Times in 0 Posts
Rep Power: 2
boknows is on a distinguished road
Bill of Sale Question - Ownership

I am purchasing a large sailboat in Florida. The money has not switched hands until tomorrow. He is concerned about me taking the boat out until the boat is titled out of his name and into mine. Does a bill of sale release him of any liability of the boat? He just is worried that if I sink the boat he may be liable.

Any thoughts.
__________________
Sail Sail Sail your boat.... Gently down the stream.....
Reply With Quote Share with Facebook
  #2  
Old 08-31-2013
Senior Member
 
Join Date: Oct 2011
Posts: 1,312
Thanks: 6
Thanked 24 Times in 24 Posts
Rep Power: 3
Seaduction is on a distinguished road
Re: Bill of Sale Question - Ownership

Found this in the DMV website: Official Website Florida Department of Highway Safety and Motor Vehicles

How many days does an owner have to register a new vessel?

The purchaser of a new vessel has 30 days in which to apply for registration and title through the county tax collector's office. During this 30-day grace period, the owner is required to have aboard his vessel a bill of sale with proof of the date of purchase.


If its a documented vessel, Florida only requires registration and not titling.

Last edited by Seaduction; 08-31-2013 at 03:46 PM. Reason: Added text
Reply With Quote Share with Facebook
  #3  
Old 08-31-2013
hellosailor's Avatar
Plausible Deniability
 
Join Date: Apr 2006
Posts: 10,559
Thanks: 2
Thanked 83 Times in 81 Posts
Rep Power: 10
hellosailor has a spectacular aura about hellosailor has a spectacular aura about
Re: Bill of Sale Question - Ownership

bo, I would call the title a formality. Same for the registration.

Once it is sold, it is yours. So make a duplicate bill of sale, a "seller's copy" and if he's worried, find a notary to notarize it as well. Once he transfers the title over to your name--it isn't his anymore. He should be able to make a photocopy of the title transfer as well, there are plenty of ways to make enough paper to keep everyone happy. And of course the payment in his hands, or bank, affirms that he sold something to you. Whether it was boat or a brick of coke, that's something else entirely.

But with a bill of sale and transfer of title--both of which can be notarized and copied to both parties--it ain't his boat anymore. In a big-ticket private sale on a holiday weekend when the banks are closed, you can both be worried. He's got no guarantee that your cash or check is any good, and you've got no guarantee there are no liens on the vessel.

Life's a b|tch, isn't it?
Reply With Quote Share with Facebook
  #4  
Old 08-31-2013
davidpm's Avatar
Senior Member
 
Join Date: Oct 2007
Location: Madison
Posts: 3,679
Thanks: 165
Thanked 38 Times in 31 Posts
Rep Power: 7
davidpm is on a distinguished road
Re: Bill of Sale Question - Ownership

Quote:
Originally Posted by hellosailor View Post
He's got no guarantee that your cash or check is any good, and you've got no guarantee there are no liens on the vessel.
So what is the best way for a private seller and buyer to guarantee the check is good and that their are no liens on the vessel?
__________________
The lesson from the Icarus story is not about human failing.
It is a lesson about the limitations of wax as an adhesive.
If you have an engineering problem solve it.
Reply With Quote Share with Facebook
  #5  
Old 08-31-2013
aeventyr60's Avatar
Junior Member
 
Join Date: Jun 2011
Location: Andaman Sea
Posts: 1,492
Thanks: 5
Thanked 23 Times in 23 Posts
Rep Power: 4
aeventyr60 is on a distinguished road
Re: Bill of Sale Question - Ownership

Use a dedicated Marine Title company.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.



"Your dreams minus your doubts equals your net worth"

Life is a short journey, filled with emptiness and pain. Get all the sailing and booty you can.
Reply With Quote Share with Facebook
The Following User Says Thank You to aeventyr60 For This Useful Post:
davidpm (09-01-2013)
  #6  
Old 09-01-2013
hellosailor's Avatar
Plausible Deniability
 
Join Date: Apr 2006
Posts: 10,559
Thanks: 2
Thanked 83 Times in 81 Posts
Rep Power: 10
hellosailor has a spectacular aura about hellosailor has a spectacular aura about
Re: Bill of Sale Question - Ownership

Well, cash is no good unless you are doing the transaction at a bank and they can authenticate it for you. They have a better chance than you do, but even they get fooled sometimes. Of course if you ask for $5 bills, those are rarely counterfeited.(G)

And then money orders can come from Nigeria and take two weeks to bounce. Bank checks should be verifiable on deposit, wire transfers probably better still. These are quiet little problems that Uncle really doesn't like to discuss, because they tend to get people upset and there's no fast answer besides "wait for it to clear and then you can..."

A title company should at least be able to confirm no liens up to a recent point, although I know that also used to be a mortgage scam, with folks taking out a loan and then counting on the fact that it wouldn't post and register for 30 days, during which time they could fraudulently sneak in another one. I have no idea how fast marine liens, mechanics liens., etc. post these days but expect that also varies with the venue.

Crazy, isn't it?

Coupla months ago, either here or on another boat forum, someone was asking what to do because he'd sold something on Craigslist and gotten paid in cash--and his bank later told him a couple of hundred dollar bills were counterfeit, he was SOL on them.
davidpm likes this.

Last edited by hellosailor; 09-01-2013 at 01:06 AM.
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Notarized bill of sale ?'s trailblazer1229 Boat Review and Purchase Forum 9 05-27-2010 07:43 PM
bill of sale / sales tax dlewis812 General Discussion (sailing related) 5 03-31-2010 04:12 AM
Cost of Ownership? Kiltmadoc General Discussion (sailing related) 10 11-12-2009 07:58 PM
contract question on a private sale khbritten Boat Review and Purchase Forum 4 03-18-2006 01:36 PM
bill of sale kimberlite Boat Review and Purchase Forum 1 03-25-2003 02:47 PM


All times are GMT -4. The time now is 11:51 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.