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Boat Bill of Sale Form - Maine
What Is a Maine Boat Bill of Sale?
A Maine Boat Bill of Sale is a document that a seller and a purchaser use to formalize the transfer of ownership of any motorized or non-motorized vessel. This is one of the essential documents that make the transaction involving new, used, or handmade boats legitimate. It demonstrates the agreement of the parties, proves the payment took place, and protects the seller and the buyer from any potential disputes or problems in the future. The importance of the form is overlooked sometimes; but, since selling or buying a boat is a major financial transaction or investment for many individuals, it is highly recommended to draft a Bill of Sale.
You can create your own Watercraft Bill of Sale using our customizable online template or download a ready-made one below. The parties may negotiate the terms and conditions of the sale and purchase. Generally, the template includes the parties' personal information, description of the vessel (its make, color, year, model, identification number), date, location, and price of the sale, seller's disclosure, and signatures of the parties, or their legal representatives. If the sale includes a trailer or an outboard engine, mention it in the document.
How to Sell a Boat in Maine?
When you sell a watercraft in Maine, you need to take several steps:
- Repair the vessel and clean it. Ensure the price of the vessel is within reasonable limits. Advertise the boat properly, mentioning the determined price and providing pictures. Be careful and watch out for fraud - it is better to meet a potential purchaser before you document the sale. Additionally, ask for an electronic payment;
- Find out what documentation is obligatory to legitimize and finalize the sale;
- Create a Bill of Sale. To become valid in the state of Maine, it must be signed by two parties. Make sure to read the document thoroughly, understand all the specific details captured, and only then sign the papers. Both parties should have a copy of the document - the buyer retains the original, while the seller has a copy;
- Transfer the boat title to the new owner by writing the name of the buyer in the transfer section of the document;
- Provide the buyer with all warranty cards, maintenance records, and other documents.
When the transaction is completed, the buyer is responsible for registering the boat with the Maine Department of Inland Fisheries & Wildlife . Before registering, the new owner has to obtain vessel insurance and fill out a boat registration application.
Does a Boat Bill of Sale Need to Be Notarized in Maine?
No, a Boat Bill of Sale does not need to be notarized but it is generally a good idea to have a notary or witness to a sale in order to confirm the transaction has taken place. This can save any potential trouble which might occur should the seller or buyer contest the transaction at a later date.
Still looking for a particular form? Take a look at the related forms below:
Download Boat Bill of Sale Form - Maine
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