Bill of Sale (Watercraft) Law and Legal Definition
A bill of sale is a document that transfers ownership of an asset from a seller to the buyer, a basic agreement for sale of goods, and a sales receipt.
What is included in an auto bill of sale form?
What information is included in a watercraft and boat bill of sale form?
The watercraft and boat bill of sale forms may include the following information:
- Consideration paid for the boat.
- Year/Make/Style/Color of the boat.
- Whether the boat contains certain features such as sink, shower, twin engine, etc.
- Signature of the seller(s).
- Signature by notary public.
What does "as is" mean?
This means that there is no guarantee concerning the condition of the property or that the property is free from defect. Unless there is an added provision to the bill of sale that the seller warrants the condition of the boat for a certain number of days, the transfer is generally without warranties. However, the "as is" language clarifies that no written or verbal warranties were made to the buyer and is used to protect the seller.
What are the execution and witness requirements?
The requirements of how the bill of sale must be signed is governed by State law and varies from State to State. Some States require that a bill of sale be witnessed, others require that it be notarized and some do not require witnessing or a notary.