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Old 15-01-2025, 14:56   #1
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Buying FSBO boat

I found a boat from someone it turns out I'm mildly connected to professionally. The boat is FSBO and USCG documented.

The boat does not have a lien, and I am buying in cash, which simplifies a lot. We have already discussed the time and place for the survey and haul.

From what I can tell, I need:
  1. CG-1258 (application for exchange of documentation)
  2. CG-1340 (USCG bill of sale)
  3. A contract (BoatUS contract will do)
Is there more that needs to be done to transfer ownership?

Thanks all.
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Old 15-01-2025, 18:38   #2
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Re: Buying FSBO boat

That sounds about right, it isn't that hard the uscg page was a little cumbersome a few years ago when I did it. It did take 3-6 months to get the new certificate.
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Old 16-01-2025, 05:26   #3
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Re: Buying FSBO boat

You may need MMSI transfer for EPIRB/Radio/AIS etc
Is it State registered as well?
What about the dinghy
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Old 16-01-2025, 13:15   #4
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Re: Buying FSBO boat

A few years ago was COVID - I believe the process has sped up since then. I too changed my documented boat during COVID.
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Old 16-01-2025, 15:39   #5
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Re: Buying FSBO boat

You could always use a Marine Title company to handle the transfer. They'll do everything and act as an escrow. The fee should be a few hundred.
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Old 16-01-2025, 15:54   #6
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Re: Buying FSBO boat

Quote:
Originally Posted by Tin Tin View Post
You may need MMSI transfer for EPIRB/Radio/AIS etc
Is it State registered as well?
What about the dinghy
It shouldn't matter. In states that issue a Title, they will not issue a title during state registration for a vessel that is USCG documented.

I'd be more worried the legitimacy of the sale (forged documents) and the ability to verify there are no outstanding liens.
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Old 16-01-2025, 16:43   #7
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Re: Buying FSBO boat

If the vessel is USCG documented one can obtain a title history and lien report from the USCG for perfected liens.

Any and all perfected liens recorded with the USCG will need to be released by the lienholder before documentation of ownership can be changed. Separate form required to be submitted by each lien holder.

Review the USCG Navigation Center website for forms and guidance.

It is very difficult to determine unrecorded liens that may apply to the boat such as repairs, marina charges, yard storage fees, surveyor charges, insurance, etc.

Be sure to check to see if property taxes have been paid on the vessel with the county it is located within. That is a separate lien that follows the boat.

In the contract of purchase be sure to obtain proper representations and warrants regarding title and liens.

Depending on which State the vessel will be located you may need to have your USCG documented vessel registered with the State of Principal Use.

Accordingly any State registration will need to be changed by seller's notice to their department of vehicles. Review the specific requirements of the applicable State the vessel may be registered with.

Since the vessel is USCG documented, there is no State title to have to transfer.

If you decide to not have your vessel USCG documented then if the State of Principal Use is a titling State then one will need to obtain a State title in addition to any registration requirement.

Review similarly for any dinghy or outboard motor.

And then there is the issue of Sale / Use taxation. Review the regulations of the State in which the sale will occur and also the State to which the vessel my be relocated to become the State of Principal Use for what reporting is required and the payment process. Typically Use tax is due upon registration. And property taxation may arise, check with the county to which the registration applies.
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Old 17-01-2025, 15:17   #8
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Re: Buying FSBO boat

Quote:
Originally Posted by Shrew View Post
It shouldn't matter. In states that issue a Title, they will not issue a title during state registration for a vessel that is USCG documented.

I'd be more worried the legitimacy of the sale (forged documents) and the ability to verify there are no outstanding liens.
That's a concern of mine. I haven't bought a documented vessel before, and would like to do it right (the only boat purchases I've dealt with have been a simple signover of a state title, condition as is, where is)



I bought a USCG Abstract of Title that shows the boat is owned outright (previous owner had a mortgage, that mortgage shows "satisfaction of mortgage", and no further mortgages)


Quote:
Originally Posted by Montanan View Post
If the vessel is USCG documented one can obtain a title history and lien report from the USCG for perfected liens.

Any and all perfected liens recorded with the USCG will need to be released by the lienholder before documentation of ownership can be changed. Separate form required to be submitted by each lien holder.

Review the USCG Navigation Center website for forms and guidance.
Thanks, that's what I've been doing actually.

Quote:
Originally Posted by Montanan View Post
Be sure to check to see if property taxes have been paid on the vessel with the county it is located within. That is a separate lien that follows the boat.

In the contract of purchase be sure to obtain proper representations and warrants regarding title and liens.
How is this done?
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Old 17-01-2025, 17:59   #9
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Re: Buying FSBO boat

An example of a contract with terms. There are others on the web.

https://boatdox-uploads.s3.us-east-2...0Agreement.pdf
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