yacht sales contract

What is a Boat Bill of Sale?

A boat bill of sale (also called a boat purchase agreement) is a document used to detail the terms of a transaction between a private seller and buyer. It’s a contract specific to a boat sale, and can be used for a powered or unpowered boat as long as it is not also a U.S. Coast Guard documented vessel registered by the U.S. government rather than titled and numbered by a state (there are separate forms for selling a documented vessel).

In some states, a boat bill of sale may not be required to complete the sale, but using one is a good idea as it provides proof of the details of the transaction. If the boat has a title—generally required in most states for boats more than 16 feet in length—that title will still need to be transferred from the seller to the buyer per state regulations.

How to Buy a Used Boat from a Private Seller

Boat Bill of Sale Templates Online

You can make up your own boat purchase agreement or use a form that may be provided by your state (try searching online for “Michigan boat purchase agreement” for example). If you find a form, details for your state will likely be included. Some states require the boat purchase agreement to be notarized by both buyer and seller.

If your state does not require the use of a specific form, or does not offer one, you may be able to use a generic boat purchase agreement such as one offered by:

• The U.S. Coast Guard
• A service like eForms

What Should Be Included on a Boat Purchase Agreement?

A boat bill of sale should include:

• The name, address and contact information for the buyer;
• The name, address and contact information for the seller;
• A description of the boat—brand, model, year of manufacture, length, Hull Identification Number (HIN);
• State registration number.

The HIN should be permanently marked on the boat transom to port. If the boat is powered by an outboard motor, it should be listed separately with its serial number.

If a trailer is being sold with the boat, it is also listed separately with its Vehicle Identification Number (VIN). The agreement should list a separate sale price for the boat, outboard motor and trailer. The agreement should also list any accessories or equipment being sold with the boat, such as electronics, trolling motor, spare props, with serial numbers if available. If you are selling the boat, items that are not included in the sale can be listed as “excluded” on the purchase agreement.

The boat purchase agreement can be executed before the sale is final, usually with a deposit, with contingencies, which could include securing financing or that the boat passes a mechanical inspection, marine survey , or sea trial . If issues crop up, such as a repair that should be made, those terms can be negotiated and spelled out in a new agreement, or the buyer can walk away with a refunded deposit.

Using a formal boat purchase agreement protects both the buyer and seller and goes a long way toward avoiding misunderstanding between the parties.

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Yacht Sales: From Contract to Closing

Contracts are needed to clearly define the process of buying a yacht for both buyer and seller. the path to the closing table and your boats new owner involves many steps and a proper yacht contract should act as a guide as you move from contract to closing., important contract points for yacht sellers, understanding yacht sales contracts.

Once your yacht's condition is dialed in and it's priced right for the market, the goal of a contract will eventually be achieved. Making sure you've read your contract to purchase in detail is important, this is a legal document with terms and parameters to guide the process along, and also to spell out buyer and seller roles. Almost all brokerage agreements contain commonalities for steps in the process. Here are the important contract points to educate yourself on and pay attention to.

Yacht Sales Price & Deposit

The signed buyer’s offer on your boat should include a deposit; typically, of 10% of agreed price. In today's world of digital signatures and ease of electronic anonymity make certain you have PROOF of deposit via a check or wired deposit into your broker's escrow account. Trust but verify!

Seller & Buyer Requirements

This is a complex section on the contract, but in its simple form these sections spell out the details of where a contract protects each in case of default.

PRIOR TO ACCEPTANCE

Prior to closing.

As the seller you need to make sure the yacht is without liens or monies owed to third parties, have information on security interest if financed so that the yacht can be sold and re-titled legally. Having documents ready ahead of time is a must. Issues that often derail or slow a closing can be divorce, estate sales, liens that were paid but not properly recorded, etc. The time to pull out your USCG Documentation or State Title and share with your broker’s closing department is immediately at contract, not two days before your closing date.

As a seller, make sure any issues that would inhibit being able to close are worked on early in the process.

Survey/Sea Trial Obligations

In its simple form, the buyer is paying for the inspection and expertise of the surveyor. The seller is making the boat available and assuming the risk of that process. It’s your yacht still as the seller and while you may run it yourself, hire a captain or entrust your broker to run it, all the risk associated with a mechanical failure - or the fuel burned at survey - is the seller's obligation. See our Survey & Sea Trial Process section to fully understand this most vital step.

Acceptance of Vessel

Full or clean acceptance.

This means there are no concessions on price or fixes that need to be performed by the seller. The buyer is ready to close, and the deposit is forfeited should closing not occur.

CONDITIONAL ACCEPTANCE

Exclusions to the yacht sale.

Your yacht has been photographed, listed, and viewed by the buyer. On the day of the survey, many times it's assumed what’s on your yacht is what’s included on your yacht at closing. An issue arises when personal items that have not been cleaned off–tools, EPRIBS, Dinghy’s, etc.–are part of the boat in the buyer’s mind, but in the seller’s mind, are not meant to be conveying. Make certain you not only provide the information to your broker but specify IN WRITING what is not included.

After Acceptance & Force Majeure

Closing the yacht sale.

The boaters two happiest days - the day you buy your boat and the day you sell it. While selling a yacht is akin to selling a home, many times the closing occurs remotely with buyer and seller not gathered around the closing table. In most cases, the documents are not being signed by buyer and seller both, but different documents for each. If financing, there will be obligations that are different than in a straight cash purchase. Your broker’s closing department should lay out this step by step process. The closing on a yacht is technically to be done by the date agreed on and occurs when the BUYER'S paperwork has been executed correctly, the SELLER'S paperwork has been executed correctly and SELLER/ESCROW AGENT has received wired funds or been provided electronic proof of loan payoff. Buyer paperwork, seller paperwork & confirmation of all funds = SOLD.

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Boat Purchase Agreement: All You Need to Know

A boat purchase agreement is a legally binding document that outlines the terms and conditions of a boat transaction between a seller and a buyer. Whether you’re buying a new or used boat, this agreement plays a crucial role in protecting the rights and interests of both parties involved. This article takes you through the essential elements of a boat purchase agreement, its importance, and tips for a smooth transaction.

The Relevance of a Boat Purchase Agreement

A boat purchase agreement serves several important purposes:

• Legal protection : It protects both the buyer and the seller from potential legal disputes that may arise concerning the ownership, condition, or other details of the transaction.
• Outline of Terms : It clearly states the specific terms and conditions of the boat sale, allowing both parties to fully understand their obligations and avoid future misunderstandings.
• Verification of Ownership : The agreement helps ensure that the seller is the rightful owner of the boat and has the legal authority to sell it.
• Proof of Payment : It acts as a record of the financial transaction, providing proof of payment and outlining any agreed-upon payment terms.

Essential Elements of a Boat Purchase Agreement

A comprehensive boat purchase agreement should include the following key elements:

Contact Information

The agreement must include the full name, address, and contact information of both the buyer and the seller. This not only helps in proper communication but also aids in case of any legal issues.

Boat Details

The agreement should provide a thorough description of the boat being sold, including its make, model, year, hull identification number (HIN), and current registration number. In addition, it should also indicate whether the boat is new or used and whether it comes with a trailer, outboard engine, or other accessories.

Sale Price and Payment Terms

The agreement must clearly state the total sale price of the boat, the currency, the amount of the deposit (if any), and the balance due. Additionally, it should outline the agreed-upon payment terms, such as a lump-sum payment or installment plan, and the accepted payment methods (e.g., cash, check, or electronic transfer).

Warranties and Guarantees

The boat purchase agreement should mention any warranties or guarantees offered by the seller, including specific warranty periods, coverage limitations, and the process for making claims. For used boats, the agreement may state that the boat is being sold “as is,” meaning the buyer accepts any existing faults or flaws.

Inspection and Survey Results

If the buyer has requested and conducted a pre-purchase boat inspection or survey, the agreement should include a clause stating that the buyer is satisfied with the results. Alternatively, if the sale is contingent on a satisfactory inspection or survey outcome, the agreement must mention the specific terms and conditions, deadlines, and remedies should the inspection or survey results be unsatisfactory.

Closing Date and Possession

The agreement should specify the closing date, at which the buyer will pay any outstanding balance, and the seller will transfer ownership, registration documents, and possession of the boat.

Default and Breach of Agreement

The boat purchase agreement should outline the consequences if either party fails to fulfill their obligations or breaches the terms of the agreement. This may include provisions for terminating the contract, retaining the deposit, or seeking legal remedies.

Governing Law and Dispute Resolution

The agreement should define the jurisdiction that governs the contract, as well as any preferred dispute resolution methods, such as arbitration, mediation, or court litigation.

Tips for a Smooth Boat Transaction

• Conduct thorough research : Both buyers and sellers should conduct adequate research on the boat’s make, model, and fair market value to ensure the deal is reasonable and realistic.
• Consider professional assistance : Hiring professionals such as yacht brokers or maritime attorneys might be beneficial in complex transactions or when navigating specific legal matters.
• Clarify all terms and conditions : Buyers and sellers should communicate openly and clearly about their expectations and concerns, reducing the risk of misunderstandings or disputes.
• Verify documents and information : Both parties must ensure the accuracy and legitimacy of all documents and information provided, such as proof of ownership, registration details, survey reports, and financial information.
• Keep copies of all documents : It’s crucial to keep copies of the boat purchase agreement, inspection and survey reports, and other relevant documents as evidence in case of disputes or for future reference.

A boat purchase agreement is a key element in ensuring a smooth and legally protected boat transaction. The parties involved should ensure they understand the essential elements of the agreement, and consider seeking professional assistance when necessary. By taking the necessary precautions, both buyers and sellers can enjoy a positive and legally secure boat transaction.

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Boat Bill of Sale

The boat bill of sale is a form that documents the sales transaction of a boat. It formally transfers ownership of the craft from one person to another. Sometimes called a boat purchase agreement, this document formalizes and details the terms of the transaction. It works like other forms of bills of sale. The boat bill of sale is specific to boats, both those with and without motors.

Boat Bill of Sale Template

• Connecticut
• Massachusetts
• Mississippi
• New Hampshire
• North Carolina
• North Dakota
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• West Virginia

A private seller from a dealership will include a bill of sale for the boat. A private seller offering a used boat will need to find a boat bill of sale as well.

The boat bill of sale operates just like other bills of sale. A person buying a used car will receive a bill of sale. A bill of sale is used when a person buys an animal, like a horse. They are proof that the legal ownership of the item is moving from one person to another. It is the specifications that vary from each.

A boat bill of sale is quite similar to other vehicular bills of sale. It closely resembles the car bill of sale. The seller will need to note the same information.

• Personal information of the seller
• Personal details of the buyer
• Make and model
• Odometer/hours reading
• Year of manufacture
• Amount Paid

The boat bill of sale requires a few specific pieces of information. The seller must include the

• length of the boat
• hull identification number.
• state registration number

The boat must be either state or federally registered, but not both.  Different states require different components, but all states require that the boat gets registered with the state. Not all boats need to be registered. Kayaks, canoes, and other human-propelled boats do not need to be registered and therefore do not require a bill of sale. The boat bill of sale is for all boat sales or any major money transaction.

The bill of sale acts as a transfer of ownership. A bill of sale for a boat should be used in every state. In some states, the bill of sale needs to be notarized. Florida is a state that requires a notary while Washington does not, unless by mail. Research the state-specific requirements for the boat bill of sale.

Drafting a Boat Bill of Sale

Those in need of a boat bill of sale have two options. The easiest option is to download a free boat bill of sale online. The second option is to draft one. For the most part, all boat bills of sale follow the same guidelines.

A free, printable boat bill of sale is available online for every state. These templates have all the specific information details required by the state.

Where to Find a Free Boat Bill of Sale

The ideal place to get and use a free boat bill of sale is from a government website. The DMV provides boat bill of sale templates for free. State-specific bills of sale are preferred as they have all their particular information listed. These are found easily by searching the Internet for “boat bill of sale + state”

Drafting a boat bill of sale is an option when selling a boat that does not need to be registered. The government-provided templates have sections that are not necessary for these transactions.

Some information can be omitted when selling boats like canoes and kayaks if the seller is drafting their bill of sale. Examples of unnecessary information are the hull identification number, registration number, year, and length.

Boat Bill of Sale Breakdown

A bill of sale should only begin after the terms of the transactions have been agreed upon. Once the seller has found a buyer and agreed on a price, they can choose which boat bill of sale they will use. A free online template or drafting their own.

Even before securing payment, a seller can begin filling out a bill of sale by using a deposit. A deposit can provide peace of mind for both buyer and seller. The boat may need to get inspected for repairs before full payment. The bill of sale can start to be drafted at this point.

Seller Information

A boat bill of sale starts with the personal information of the seller. The seller will include their name, address, and contact information. Contact information will be either email or phone number, often both.

Buyer Information

This section is filled out by the individual purchasing the boat. It includes all the same information that the seller fills out.

Boat Information

The seller fills out the necessary boat information. This section is the specifications of the boat.

Brand, Model, Make

This section may vary depending on the template. The language is what will be different, but the idea is the same. All boat bills of sale will require this information.

Include the company that manufactures the vessel and the model. Sometimes, the type of boat will be required. Indicate if the boat is a dingy, fishing boat, catamaran, etc.

In addition, include the year of the manufacture.

The length is a requirement specific to the boat bill of sale. Boats are measured lengthwise, tip-to-tip.

Hull Identification Number

All boats manufactured in the U.S come with a hull identification number (HIN). The number is at the stern. They are all a twelve-character identification.

The ID number has three components.

• a three-letter manufacturer number
• Five characters serial number
• Month and year of production

The HIN is full of information for the boat bill of sale. This includes the manufacturer and year of production.

Registration Number

The state or federal government registers all boats.

State registration numbers are located on either side of the boat. They take the form of the first two letters indicating the state, four numbers, and two letters.

Federal registration numbers are located around the boat. They are on parts of the boat visible when it is in the water.

If not found, call the state with the HID.

Indicate the agreed-upon price of the boat.

Sometimes, there is a section to indicate a deposit. The deposit is part of the overall final price.

Date and Signature

The boat bill of sale is complete once the document is dated and signed.

If the boat is sold with a motor, it needs to be on the bill of sale. The information is less comprehensive than the boat. The price can be indicated separately or included in the final price as an addition.

The motor has four pieces of information required.

• Manufacturer
• Serial Number

All this information is on the engine.

If a trailer is sold with the boat, it needs a separate section. The state does not require a separate bill of sale for the trailer. The trailer needs its section for the price. It is not to be included in the price of the boat.

There are three necessary pieces of information needed for the trailer.

• Vehicle Identification Number

Some free bills of sale for boats have additional pieces of information required for a trailer. The weight and license plate, for example.

No. The boat bill of sale is the prerequisite for obtaining the title. A title for the boat is the certification of ownership as seen by the government. The boat bill of sale is proof of transfer and must be signed before a title is given.

The title is not required in all states. The title is to prove legal possession of the boat in the event of theft.

A state may require the boat to be titled depending on the size, horsepower, or type of boat. No matter the reason, the boat bill of sale is required to title.

Some equipment needs to be specified on the boat bill of sale. Trailers and motors need their section if they are part of the transaction.

Electronics, spare props, and recreational equipment, if part of the deal, do not need sections on the bill of sale.

Some templates have subsections where the seller can list any additional equipment that is part of the transaction. This is where the seller can list out whatever small equipment is included. It is not technically required. A boat bill of sale drafted from scratch should include a section for additional equipment.

Some states require the boat bill of sale to be notarized. If this is the case, there are two options. The seller can visit an institution like a bank, law firm, or notary public. Physically delivering the bill of sale is more effort, but often less expensive.

The easier option is a digital signature. There are websites online that provide digital signatures for digital documents. These are more expensive than a public notary, but only require the seller to send the signed boat bill of sale digitally.

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Legal Templates

Home Personal & Family Bill of Sale Boat

Boat (Vessel) Bill of Sale Template

Use our boat bill of sale to record the sale of a boat and protect both the buyer and seller.

• 4.8 531 Ratings

Updated November 22, 2023 Written by Sara Hostelley | Reviewed by Brooke Davis

A boat bill of sale is a legal document recording the sale of a boat between two parties: a seller and a buyer. Within this document, the seller agrees to transfer boat ownership to the buyer for a certain fee.

Supplemental Form

If the boat has an accompanying trailer, you can record the sale of multiple items (for example, a boat, motor, and trailer) on a single form or an accompanying trailer bill of sale form .

Boat Bill of Sale – By State

• Connecticut
• District of Columbia
• Massachusetts
• Mississippi
• New Hampshire
• North Carolina
• North Dakota
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• West Virginia

Boat Bill of Sale – By Type

Explore our different forms to get the right template for your boat setup:

Use this template if you’re selling a motorless boat or a boat with an internal motor.

Examples include canoes, sailboats, houseboats, and jet skis.

Use this template for a motorless or inboard-motor boat and its trailer.

For a Boat and Trailer

Use this template to sell a boat with an outboard motor and its trailer.

Outboard motors aren’t permanent parts of the boat, so they must be listed separately on the bill of sale form, even if a trailer isn’t included in the transaction.

For a Boat, Motor, and Trailer

If your boat is federally documented (registered with the U.S. Coast Guard), you need an official Coast Guard bill of sale to complete the transfer.

For a Coast Guard Vessel

• Boat Bill of Sale - By State
• Boat Bill of Sale - By Type

What Is a Boat Bill of Sale?

What to include in a boat bill of sale, how to sell a boat, how to write a boat bill of sale, boat bill of sale sample, frequently asked questions.

A boat bill of sale is a document that legally transfers the ownership of a boat or other watercraft from a seller to a buyer.

You need this form when buying or selling a boat because it outlines the terms of the sale, prevents disputes, and serves as proof of ownership for the buyer so they can register their new boat.

Types of Boats

You may sell or buy one of the following types of boats:

• Power/motorboat

A valid bill of sale for a boat, jet ski, or other watercraft vessels should include the following components:

• Parties’ information: The buyer’s and seller’s names and contact information.
• Watercraft description: Details about the watercraft, including its current condition, hull identification number, make, model, and year.
• Registration information and title number: Any registration information and title numbers for the boat.
• Payment method: Clarification on how the buyer will pay (via cash, personal or certified check, credit card, etc.)
• Purchase price: The agreed-upon purchase price.
• Sale location and date: When and where the sale occurred.
• Signatures: Signatures of both parties.
• Notarization: Some states require notarization to validate the document. Even if your jurisdiction doesn’t require notarization, you may consider having a notary witness both parties’ signatures to increase its legitimacy.

You can also specify if the boat comes with a warranty. If it doesn’t, you may include an “as-is” clause, meaning the buyer agrees to purchase the vessel in its current condition.

When it comes to selling a boat, there are several steps you need to take to keep in mind to make the process as straightforward as possible.

Step 1 – Decide What You’re Selling

Firstly, you’ll need to decide what you’re selling. Will you sell just a boat or include a motor and/or trailer?

Whatever it is you’re selling, make sure you include everything in the final value of the sales price.

Step 2 – Prepare the Boat for Sale

You need to take a few steps to prepare your boat for sale. You’ll need to:

• Get paperwork in order: Ensure you have the title and registration for each component. Most states require this information for sale, plus it assures the buyer that you’re the owner and the vessel has no liens.
• Collect maintenance records: A potential buyer may ask for records of any maintenance work you’ve had for the boat to verify its condition.
• Clean your vessel: Clean your vessel’s interior and exterior to attract more potential buyers. Address cosmetic issues, fix mechanical problems, and remove everything not part of the sale.
• Photograph your boat: Take several photos of your boat from different angles in good lighting.

Step 3 – Determine Your Boat’s Value

To determine your boat’s value, you’ll need to:

• Decide whether to sell privately or commercially. You may wish to hire a broker to help sell your boat, especially if it’s a higher-cost watercraft. On the other hand, selling your boat on your own lets you manage the process while eliminating fees and commission costs, but it can be more time-consuming.
• Determine market value. To get an idea of the market value of your boat, you can use a price-checker tool like J.D. Power or BoatTrader . Or, you can search for local listings of a similar make and model. Factors such as condition, age, and demand can significantly impact market value.

A vessel’s average sales price may not accurately represent how much your boat is worth. If you’ve made extensive modifications, they could affect the value. Ensure you consider everything when calculating the sales price.

Decide on an asking price and the lowest offer you’ll consider before you list.

Step 4 – List Your Boat for Sale

Several websites help private boat sellers reach buyers. Create multiple listings across sites like Boat Trader , The Hull Truth , BoatCrazy , boats.com , Craigslist , and eBay to reach a wider audience. For high-end and specialty boats like yachts and sailboats, try YachtWorld.

In addition to several clear photos of your boat, provide a detailed description of the condition and features of the vessel and any accompanying motor, trailer, or accessories.

Make sure you include the following information in your post:

• Make, model, and year
• Repairs or improvements
• Terms of the sale (cash-only, delivery available, etc.)

If you want to offer a warranty on the boat, mention it here. Otherwise, include terms like “as-is” or “sale final” in the listing description.

Step 5 – Present Your Boat to Potential Buyers

Now that you’ve listed your boat for sale online, you can show it to potential buyers. For ease, you’ll want your boat stationed at a dock for easy access so buyers can understand what the boat is like on the water. You could also consider parking your boat on land, a trailer, or a stand.

Before meeting potential buyers, ensure the following:

• You’re honest and up-front about the boat.
• You know the boat inside and out.
• The boat is in selling condition.
• You’re prepared to communicate and negotiate with buyers.
• You know your lowest asking price.

Step 6 – Write a Bill of Sale and Gather Relevant Documents

Once you’ve found a buyer, you can fill out a bill of sale template to finalize the transaction. Distribute a copy to the buyer so they can review it.

Also, gather the following documents:

• Title: Proof you own the boat.
• Registration: Current registration in your state.
• Proof of Paid Loan: Evidence that you’ve paid off the loan attached to the boat.
• Trailer Documentation: Proof the trailer is in good condition and can haul a boat without it being dangerous.
• Receipts for Maintenance/Repairs: Proof of you taking care of the boat while you owned it.
• Warranties: Any guarantees you want to transfer in the sale.

Step 7 – Collect Payment

Once you agree on a price with the buyer, you can finalize the boat sale. The buyer must pay you before signing the document.

Don’t hand over the keys or ownership documents until the buyer’s funds have cleared.

It would be best to negotiate which party will be subject to the sales tax; typically, both parties split it. To close the sale:

• The buyer needs to make payment in full.
• The seller must sign the title to the buyer and hand over any current registration documents.

Step 8 – Sign and Notarize

After completing the bill of sale form and receiving payment in full, you and the buyer can sign the document according to your state’s requirements.

Some states require the buyer and seller to sign in the presence of a notary public for the form to be valid. If your state doesn’t require boat bills of sale to be notarized, it’s still a good idea to have a notary witness the deal in case a dispute arises.

After the sale is complete, make a copy of the signed form for your records. The buyer should keep the original copy for registration purposes.

Step 1 – Fill in the Buyer and Seller Information

Once the buyer and seller agree on all the transaction details, arrange to meet in person to complete the sale. It’s a good idea to have both parties show ID to verify their personal information is correct and prevent fraud.

You must include both parties’ names, addresses, and contact details.

Step 2 – Fill in the Boat, Motor, and Trailer Details

Fill out the boat details, including year, make, model, HIN (hull identification number), dimensions, etc. You can usually find your boat’s hull ID number on the right side of the transom (rear of the boat).

Include outboard motor information like serial number, model, and horsepower, which you can often find on the plate attached to the motor.

You can find trailer details like the vehicle identification number (VIN) and weight on a sticker or plaque, usually attached to the frame.

You can use the notes section to mention additional details about the condition of these components. Include whether you will have any warranties to the buyer or if they will buy the boat “as is.”

Step 3 – Fill in the Selling Price and Payment Method

Before meeting to complete the sale, the buyer and seller should agree on a purchase price and payment method.

The buyer must pay sales tax when registering their new boat, but you might split or cover the sales tax cost by deducting the applicable taxes from the selling price.

Payment methods can include the following:

• Personal check
• Cashier’s check
• Money order
• Credit Card

If the boat is a gift, fill out your relationship to the recipient and the boat’s total value and other items included in the transfer.

Step 4 – Sign and Notarize

Once the buyer pays, you can sign the form to finalize the transaction. Some states require boat bills of sale to be notarized.

Download a boat bill of sale template below in PDF or Word format.

Can you register a boat with a bill of sale?

You can use this document as proof of purchase to apply for the legal title with the state agency that handles boat registration.

Check your state’s requirements to determine if you need to register the boat. If you’re purchasing a trailer, you may need to register that too.

Can I buy a boat with just a bill of sale?

Yes, you can buy a boat with just this document. However, the boat must not have a title. The bill of sale must provide all the necessary details so there’s sufficient proof the transaction took place.

If a title is attached to the boat, the seller must transfer the title to you for you to legally be the new owner.

Can you sell a boat without a bill of sale?

Yes, you can sell a boat without this document. However, this approach may not be wise because you wouldn’t have definitive proof of a transaction and the resulting change in ownership. Both parties to the sale may experience legal ramifications later.

For example, say you sold your boat to a buyer without a bill of sale, and the buyer got into an accident where they damaged another vessel. The owner of the damaged vessel could take you, the original owner, to court for compensation.

As the boat is still in your name and there is no proof of a transaction, it won’t be easy to prove your innocence.

Does a boat bill of sale need to be notarized?

A boat bill of sale may need to be notarized to be legally binding, depending on the state where the sale occurs. Many states require this document notarized or witnessed by at least two people.

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The new version of the MYBA Memorandum of Agreement

Let’s look at the key points of the new version of the MYBA Memorandum of Agreement – Part One

by Federico Santini*

The Myba Memorandum of Agreement (also known as the Moa ) is a contract form approved by Myba (Mediterranean Yacht Brokers Association) and most commonly used internationally for the sale and purchase of used yachts . It is a standard contract governed by English law, which consists of a first part, corresponding to the first two pages, to be filled in with the description of the yacht and the specific conditions of sale that are the result of negotiations between the parties, and a second part consisting of standard clauses governing the Seller’s rights and obligations, and finally the general conditions of the sale. Having been widely used and respected by brokers and lawyers for many years, the Moa has been an essential instrument in the buying and selling used yachts.

THE MEMORANDUM OF AGREEMENT HAS FOR MANY YEARS BEEN AN ESSENTIAL INSTRUMENT IN THE BUYING AND SELLING OF USED YACHTS.

Not everyone knows, however, that a new version of the Moa was launched in 2021. It is an update of the model that has been used since 2008 with the aim, on the one hand, to bring it more in line with current market practices and with changes in regulations and, on the other hand, to prevent a number of contractual aspects that are in practice susceptible to disputes between the parties. However, almost two years after the introduction of the E-Moa 2021, the previous version of the contract is still predominantly used, and this is undoubtedly due to the fact that the new version is electronic and can only be completed and used by brokers registered with the Myba. Therefore at least for the time being, brokers who are not members of the association and, above all, lawyers who normally assist the parties in drafting the Moa and its addenda are, at least for now, excluded from accessing this document.

The decision not to allow lawyers to prepare the contract directly and to be able to exchange the drafts prior to signing, except with the broker’s constant intervention on the text, inevitably represents a major obstacle to the dissemination of the new version and the application in the practice of the changes introduced . Therefore, it is hoped that the Myba will approve a widening of the audience of users who can have access to the E-Moa 2021, certainly by adding lawyers active in the yachting sector. This requirement has been expressed several times by many of the most established international law firms and is certainly to be welcomed since the changes made are undoubtedly useful and opportune in the light of the experience and market practice. We therefore begin our examination of these changes which we will continue in the next issue.

A first amendment, and also the most significant, concerns Clause 15 (Seller’s Warranty) which has been extended in two respects , compared to the previous version which only provided for the warranty regarding the Seller’s ownership of the yacht and the absence of mortgages, debts and claims over the yacht. On the one hand, a specific guarantee has been inserted regarding the absence of liability for the payment of Vat on the yacht until the date of completion of the sale in relation to the Vat status of the yacht which, in fact, must be declared in the new box (L) Eu Vat Status, introduced on the first page of the Moa . On the other hand, a specific guarantee has been inserted regarding the absence of debts and/or liabilities deriving from previous charter contracts operating in the case of commercial yachts, which in fact must now be declared in the new box (K) Plesure or Commercial Yacht, introduced on the first page of the Moa .

Of particular importance is the introduction of the Vat guarantee, as this is an absolute change in perspective with obvious consequences in terms of liability . In fact, under the previous regime, the seller did not provide any guarantee and the buyer had the burden of verifying the seller’s correct application of Eu Vat law before signing the Moa and/or completing the sale, with no recourse against the seller in the event of subsequent disputes by the tax authorities. We will continue our analysis of the changes introduced in the Moa in the next issues.

(The new version of the MYBA Memorandum of Agreement – Barchemagazine.com –  January  2024)

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Why Four Seasons Yachts Is Encouraging Guests to Leverage Travel Advisors

Four Seasons Yachts + Skift

May 20th, 2024 at 10:00 AM EDT

Beyond its innovative design ethos and distinctive service offerings, Four Seasons Yachts is making waves with a unique sales and distribution strategy built around a growing preference among affluent travelers to book trips with luxury travel advisors.

Four Seasons Yachts

This sponsored content was created in collaboration with a Skift partner.

Driven by increased demand among travelers for exclusive, passion-centered experiences and seamless trip planning, luxury travel advisors have seen an uptick in bookings in recent years. Aligned with these trends and capitalizing on the growing popularity of private yacht charters, Four Seasons Yachts is aiming to create a best-in-class luxury travel experience that leverages the strength of the Four Seasons brand, with inaugural voyages starting in 2026.

“Four Seasons is capitalizing on its longstanding delivery of unparalleled service by investing in luxury experiences that offer guests new ways to connect with the brand, building further differentiation and enhancing brand awareness and preference among new and existing guests,” said Marc Speichert, executive vice president and chief commercial officer at Four Seasons. “More and more, luxury travelers are looking for immersive, personalized, and worry-free travel — Four Seasons is well-equipped to deliver on this trend through our Jet, Drive, and Yacht experiences, providing a seamless end-to-end Four Seasons journey.”

SkiftX recently sat down with Nils Lindstad, vice president, business development and sales excellence at Marc-Henry Cruise Holdings LTD, joint owner and operator of Four Seasons Yachts, to discuss how the brand’s guest-focused approach to the in-journey experience is expressed in the booking phase with a travel advisor-friendly distribution strategy and novel customer experience (CX) technology that enables guests to add their travel advisors to their reservations seamlessly. 

Travel Advisor-Friendly Distribution 

Four Seasons Yachts recognizes the important relationship between guests and their travel advisors and the knowledge, insight, and guidance that a trusted travel advisor can provide. This approach not only simplifies the booking experience but also maintains the integrity of the travel advisor’s role.

“Our clients are used to being looked after in a very private, personal way,” Lindstad said. “That’s why we proactively encourage our guests to work with whomever they wish, and we reinforce that message in every marketing, sales, and distribution channel. We’ve also introduced Personal Yacht Consultants assigned to guests and their travel advisor of choice, providing dedicated support and a tailored and high-quality experience for each guest throughout their entire journey.” 

Client-Driven Digital Experience and Booking Technology

High-touch human interaction isn’t enough to ensure success within today’s luxury travel landscape, where expectations for seamless booking experiences are increasing. The human touch needs to be balanced with the efficiency, accessibility, and personalization capabilities of digital solutions. 

For Four Seasons Yachts, this means building out a client-driven digital experience with a set of technologies that enables clients to seamlessly add their preferred travel advisor to their reservation up to 60 days after booking. 

“This is an industry first,” Lindstad said. “Once a guest adds their travel advisor, we validate and register the travel advisor within our system, and then they become associated with that guest, and we can communicate with them. We register the travel advisor in a portal and provide a tool kit that allows them to easily pass along critical information to the guest and perform the standard of service the guest is accustomed to.” 

In addition, this tech stack includes booking mechanisms that handle the complexity of sea-based product preferences more effectively than traditional land-based central reservation systems. Sophisticated reservation systems integrate voyage bookings with additional services like transfers, land experiences, and onboard spa treatments, enhancing the pre-planning and guest information process.

Looking Ahead to 2026

Inaugural voyages are set to launch in 2026 with a selection of ports spanning yachting capitals from the Southern Caribbean to the Greek Isles, Ionian Sea, and Dalmatian Coast. “Four Seasons Yachts will be synonymous with exclusive destinations, exceptional design, personalized service, and elegant onboard amenities,” Lindstad said. “In our debut year, we’ll explore more than 130 distinct destinations across 30 countries and territories. Momentum is building as bookings for specific itineraries open and I’m thrilled to be part of this journey.”

To view accommodations and itineraries, click here . To join the list for updates about Four Seasons Yachts, click here . To register your interest as a travel advisor for Four Seasons Yachts, click here . 

To learn more about additional Four Seasons immersive travel journeys, including the Four Seasons Private Jet Experience, click here . This content was created collaboratively by Four Seasons Yachts and Skift’s branded content studio, SkiftX . 

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Tags: booking technology , digital experience , four seasons , luxury travel , SkiftX Creative Studio , SkiftX Showcase: Hospitality , SkiftX Showcase: Technology , travel advisors , yachts