Buying a US Flagged Boat in Mexico RE: TIP

[Sailor55]

If I buy a US flagged boat in Mexico as a US citizen, can the TIP be transferred, or is there some way to get one in my name without leaving Mexico?

Thanks

[Training Wheels]

The old TIP would have to be canceled, then just get a new TIP. Ideally, get the previous owner to cancel his TIP.

[DesertBoater]

Thanks, Training Wheels.

Can this be done without taking the boat out of Mexico?

[laika]

+1 on what Training Wheels said.

So long as the soon-to-be previous owner cancels the existing TIP there will be no issues. The boat doesn't have to physically leave MX.

We cleared into MX last year with an outstanding TIP from a previous owner twice or thrice removed. There was no way for us to figure out who it was. It took over two weeks of active pursuit and a lot of really weary smiles before the old TIP was finally tabled. Getting a new one took 10 minutes.

Sometimes it's an adventure

[KP44]

Originally Posted by Training Wheels

The old TIP would have to be canceled, then just get a new TIP. Ideally, get the previous owner to cancel his TIP.

More about the 10-year Temporary Import Permit in Mexico.


Check with Mexican authority because what I say is hearsay. A boat may have only 3 TIPs. This is a problem if 2 or 3 owners have already imported the boat into Mexico. Check the boat's history.
A TIP cannot be transferred. The boat must be removed from Mexico, the TIP cancelled, and a new TIP completed for the boat to be back in Mexico. If the boat is in Mexico with a TIP, it cannot be sold.
But I have also heard that all this paperwork can be done, and ownership transferred, without physically moving the boat.

[Dennis.G]

Just some technical points: It is illegal to sell a boat in Mexico that is in Mexico under a TIP. What you are really doing is selling the boat in the USA between two USA citizens. The fact that the boat is located in Mexico when the sell is completed is a complication to be sure. Be very careful when discussing with Mexican officials as any talk of selling in Mexico will raise red flags immediately. Also, you can not file for a TIP if a TIP is in place for the vessel with previous owner. The big problem is how does seller cancel TIP with vessel still in Mexico so you can file for your new TIP as new owner? I don't know answer. I would suggest you get the help of a yacht broker working in Mexico, they deal with this all the time. The fees charged for their help likely well worth it in the end.

[Kenatsea]

I bought my boat in Mexico, about 18 months ago. No hassle and all legit. Only required a little patience. PM me if you have any questions.

Ken

[KP44]

Originally Posted by Dennis.G

Just some technical points: It is illegal to sell a boat in Mexico that is in Mexico under a TIP. What you are really doing is selling the boat in the USA between two USA citizens. The fact that the boat is located in Mexico when the sell is completed is a complication to be sure. Be very careful when discussing with Mexican officials as any talk of selling in Mexico will raise red flags immediately. Also, you can not file for a TIP if a TIP is in place for the vessel with previous owner. The big problem is how does seller cancel TIP with vessel still in Mexico so you can file for your new TIP as new owner? I don't know answer. I would suggest you get the help of a yacht broker working in Mexico, they deal with this all the time. The fees charged for their help likely well worth it in the end.

I consider this sound advice.

[TJ D]

I second the advice to work with a broker. There's a procedure that needs to be followed (which can change a bit from time to time) and they can keep you on the correct path. The bigger brokerages in La Paz, San Carlos, Mazatlan and Vallarta have all been executing sales for a very long time. You're much better off with them than going it alone.


Happy shopping. There are some good deals to be had down there.

[Ruso]

Private party transfer has way to many unknown variables.. Entire process has too many failure points: when cancel TIP, where the money changing hands, change US registration-> then new TIP...
I will definitely hire local broker even for private party transfer. $1200 not a big price to pay for a piece of mind. Entire process well defined starting with making offer, escrow account and finishing with getting TIP. Not to mention all brokers I communicated there very helpful and really willing to work with you... sellers another story.. I might post something outrageous into "Free advice from perspective buyer thread".