When you take on boating as a hobby, you are potentially taking a lifelong pastime. People of all ages can find something enjoyable about an afternoon out on the water, whether you prefer fishing, waterskiing, or just regular relaxation. Buying a boat can also be viewed as a long-term investment since you are likely to get many years of use out of a vessel. This can take some of the sting out of the price tag that comes with a new boat, since, let’s face it, they are often expensive. Of course, as your life grows and takes on new shapes, your boating needs may also change with time. If you are in a situation where your kids have gone off to college, you may want to downsize a bit. Or, perhaps grandkids are on the horizon and you need a bigger boat to accommodate your growing family. Regardless of your unique circumstances, if you aim to sell your boat, you can likely get a great price on the secondary market, as boats tend to hold their values pretty well. If you are working on selling your vessel, you may also want to learn a bit about how to fill out boat transfer papers online.
Deciding to sell your boat can be a tough choice to make. It stands to reason that you have formed meaningful memories with your vessel, and in a way, it has become a member of your family. Well, you can gain some peace from the fact that another individual will get enjoyment of their own from your well-maintained boat. If you are preparing to sell, you will want to make sure you are current on your maintenance, and that your boat is cleaned, inside and out. You will also want to take many high-resolution photographs and write up an engaging “for sale” listing. Once you have found a buyer and you are ready to complete your transaction, there may be some paperwork to complete. Fortunately, that is where the National Vessel Registry Center can help you.
Filling Out Boat Transfer Papers
Whether or not Transport Canada will require a formal transfer document will depend on your boat’s documentation. For instance, if your boat has an engine of 10 horsepower (7.5 kW) or more, you likely have a pleasure craft license (PCL). You will need to sign over your license to the new owner, but a formal bill of sale will not necessarily need to be sent to Transport Canada.
Registered vessels are a little different. Commercial boats and vessels financed with bank loans must carry vessel registrations. This is also true for boats that sail internationally under the Canadian flag. To process the sale of a registered vessel, you will need to submit a Form 6 – Bill of Sale to Transport Canada.
Use Our Online Forms
We can help you prepare your bill of sale and transfer ownership of your vessel online. Simply select the option that is right for you from our convenient navigation menu. You can also visit our Frequently Asked Questions page if you would like to learn more.