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Maryland Boat Sale Requirements

Can someone tell me what the paperwork requirements are in MD to take possession of a new to me boat?

Does the seller just sign over the title or is a Bill of Sale required?

Is the tax man going to get me for the NADA value (which everyone knows is a pipe dream) or the actual amount paid for the vessel?
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Re: Maryland Boat Sale Requirements

Is MD where **you** will keep the boat?
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Re: Maryland Boat Sale Requirements

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Is MD where **you** will keep the boat?
Yes, I don't live there but the boat stays.
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Re: Maryland Boat Sale Requirements

Another case of a call to the registration authority being the best course of action.

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Re: Maryland Boat Sale Requirements

Or you can look here: https://dnr.maryland.gov/boating/Pag...aspx#documents

That page has access to answers on any questions that you may have and links to the various documents that will be required.

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Re: Maryland Boat Sale Requirements

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Originally Posted by Jeff_H View Post
Or you can look here: https://dnr.maryland.gov/boating/Pag...aspx#documents

That page has access to answers on any questions that you may have and links to the various documents that will be required.

Jeff
That does it - thanks!
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Re: Maryland Boat Sale Requirements

In most venues the tax man (and before the tax department sees it, the registration clerk) is going to look at your bill of sale and compare it to the NADA or other book value, if the boat has one. If your sale price is within maybe 20%, they won't question it. If your sale price is 80% below book...you may be told you're going to pay book and have to appeal it. If there's something radically different about your boat, like the PO installed red flocking on the salon and overhead and there's faded 60's paisley paint on the hull, you might want to snap some pictures to bring down with you, just in case.
If you're getting a big discount because there's no working engine, the rudder is bent, the sails are shredded, bulkheads rotten, deck spongy...note those on the bill of sale as well, that helps substantiate why your price is under book.
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