If you are buying or selling a boat and a trailer, you will absolutely need a boat and trailer bill of sale. Generally, the bill of sale is written up by the seller and given to the buyer as a receipt.
The importance of boat and trailer bill of sale
The boat and trailer bill of sale is a legal document that shows the transfer of ownership. It is a proof that the buyer needs to register the boat and trailer in his name and to get them insured. The boat and trailer bill of sale will also make the transition easier if the buyer wants to sell the trailer at some later point.
The bill of sale is important to the seller as well. It provides an evidence that the he is not legally responsible for the boat and trailer anymore. This is especially important if the buyer doesn’t register the trailer and gets into an accident or leaves it stranded. Also, if the boat and trailer are going to be paid for installments, the bill of sale will spell out the terms and enable the seller to repossess the vehicle for nonpayment.
Boat & trailer bill of sale template details
Important items to put into the bill of sale are names and contact information of both buyer and seller, conditions for payment arrangements (if any), and details about the boat and trailer.
The details of the boat trailer should include the VIN, make, model, year built, model, body style, dimensions, and the GVWR (Gross Vehicle Weight Rating). This document should be signed and dated by the buyer and seller, as well as a witness, on the day that the boat and trailer are transferred.
Keep in mind that some states may require a title to register the boat trailer. It is the responsibility of the seller to provide the bill of sale to the buyer if it is needed, but it is important that you call the DMV just to make sure. Either way, a boat and trailer bill of sale will prove beneficial to both parties involved and will help avoid any disputes when it comes to the sale.