I'm selling my 2001 Beneteau in Texas to a buyer in Texas. She is registered with the US Coast Guard AND the State of Texas. Besides filling out form PWD 143 (including TX sales Tax info) and filling out and notarizing the back page of the USCG Certificate of Documentation, do I need to worry about any other legal/documentation issues?
Selling my boat in Texas
- Thread starter toohotjoe
- Start date
- Status
Checks are and issue and even bank checks can be recalled So allow enough time for the funds to move
Also, bank checks can be forged... you really do need to wait sufficient time for the checks to clear properly. HOwever, with electronic check clearing, which has been the standard for a couple years now, there is a much shorter time period you'll have to wait.
On the Coast Guard documentation, after you fill out/sign/notarize the reverse of the documentation form, the new owner completes a CG application and sends the application, the original document and their check to the CG document center. Suggest to the buyer that they photocopy the front and back of the documentation form before they send the original to the CG, and keep the photocopies on the boat - if they're boarded, that's their documentation pending new original being issued by the CG. Also suggest they call the CG Documentation Center to find out what the total cost/fees are to send in, there are copy fees in addition to the base fee.
If you are not sure of what you are doing let a proffesional Marine Title transfer agent handle the transaction. They will insure that the buyer is able to get a clear tittle and that you will safely get your money. You may agree with the buyer to split the cost of the service. If it was a <$10K boat I would not bother recommending it but a 2001 331 Benetau represents a significant sum. If the buyer refuses to go along I would question his motives as it would seem to me he would want to make sure the boat has no outstanding liens before signing a Bill of Sale. There are two No-Nos that a seller must never do; 1) go unaccompanied to a sea trial or 2) accept payment in cash outside a Bank's walls.
- Status