Changing a boat title is an important process that boat owners may encounter for various reasons. Whether you’ve purchased a boat from someone else, sold your own boat, or need to update your title due to a change in personal information, understanding the steps involved can help ensure that the process goes smoothly. Title transfers, in many ways, mirror the process used for cars or real estate, and they are essential for verifying ownership and securing legal rights to the vessel. You might be wondering how to change a boat title.
For boat owners, the title represents proof of ownership and is often required when registering the boat or securing insurance. If you are planning to sell a boat, buy one, or need to make changes to the title for other reasons, it’s important to follow the correct steps. This article will walk you through the process of changing a boat title, including the necessary paperwork, potential fees, and other considerations.
Understanding Boat Titles
A boat title is a legal document that proves ownership of the vessel. It’s issued by the relevant state agency or the U.S. Coast Guard if the boat is federally registered. The title typically includes the boat’s make, model, year, hull identification number (HIN), and other important details. Just like a car title, a boat title is necessary for registering the vessel with the state and for proving that you are the rightful owner.
Changing a boat title usually occurs when ownership of the boat changes hands, but it can also happen when other personal information (such as the name or address of the owner) needs to be updated. In either case, the title change must be processed according to the legal and administrative procedures in place.
Reasons for Changing a Boat Title
There are several reasons why someone may need to change a boat title. These include:
- Transfer of ownership: This occurs when a boat is sold or given away to a new owner. The buyer and seller will need to complete the necessary paperwork to transfer ownership officially.
- Name change: If the boat owner changes their name (for example, after a marriage or divorce), the title will need to be updated to reflect the new name.
- Address change: If the owner changes their address, this information should be updated on the title to ensure that any official communication regarding the boat is sent to the correct location.
- Correcting errors: If there is an error on the title, such as a misspelled name, incorrect hull identification number, or wrong model year, it will need to be corrected.
Regardless of the reason, the process of changing a boat title is an important step in maintaining accurate records and ensuring that ownership is correctly documented.
The Process of Changing a Boat Title – How To Change a Boat Title
The specific steps to change a boat title can vary depending on the state in which the boat is registered and whether the vessel is state-registered or federally registered. While the exact process may differ slightly, the general procedure follows a similar pattern.
Step 1: Gather the Required Documentation
Before initiating the title change, you’ll need to gather the necessary documentation. This documentation may include:
- Original boat title: This is the current title of the boat, which proves ownership. It will be required for a transfer of ownership or to make changes to the existing title.
- Bill of sale: When transferring ownership, a bill of sale is typically required to provide evidence of the transaction. This document should include details such as the sale price, date of sale, and both the buyer’s and seller’s information.
- Proof of identity: This can include government-issued identification, such as a driver’s license or passport. If you’re making a name change, you may also need to provide documentation of the legal name change, such as a marriage certificate or divorce decree.
- Hull identification number (HIN): If you’re correcting an error related to the HIN, you may need to provide a physical inspection of the boat to confirm the HIN is correct.
Step 2: Complete the Title Transfer Forms
Most states require boat owners to complete specific forms when changing a boat title. These forms are typically available on the state’s Department of Motor Vehicles (DMV) or natural resources website. For federally registered boats, the U.S. Coast Guard maintains its own set of forms for title transfers.
The forms will ask for information such as:
- Details about the boat: The boat’s make, model, year, and HIN.
- Personal information of the owner(s): The current owner’s and buyer’s (if applicable) names, addresses, and contact details.
- Details of the transaction: For a transfer of ownership, you may be required to provide the sale price, the transaction date, and signatures from both the buyer and seller.
Step 3: Pay the Required Fees
Changing a boat title typically involves paying a fee, which can vary depending on the state and whether you are transferring ownership or making an update. For example, in some states, title transfer fees for boats can range from $10 to $50, while other states may charge more for updating the title due to a name change or correction.
Be sure to check the fee schedule for your state and include the required payment with your submission. Many states offer online payment options, but others may require payment by check or money order.
Step 4: Submit the Paperwork
Once you’ve completed the forms and gathered the necessary documentation, it’s time to submit everything to the appropriate state agency. Most states allow you to submit your boat title transfer application online, by mail, or in person at a DMV office or county clerk’s office. If you’re dealing with a federally registered boat, you’ll need to submit your title change paperwork to the U.S. Coast Guard.
It’s important to double-check all your paperwork before submission to ensure that everything is filled out correctly. Errors or missing information can delay the processing of your title change.
Step 5: Wait for Approval and Receive Your New Title
After you’ve submitted your paperwork, the relevant agency will process your title change application. Processing times can vary, but it generally takes between two to eight weeks for the new title to be issued. If you’re in a hurry, you may be able to expedite the process for an additional fee, depending on your state’s regulations.
Once your title change has been approved, you’ll receive the updated boat title in the mail. If you’ve sold the boat or transferred ownership, the buyer will be the one to receive the updated title. Keep in mind that the new title will reflect the updated information, such as the buyer’s name or corrected details.
Potential Issues in the Boat Title Change Process
While changing a boat title is usually straightforward, there are a few potential issues that may arise during the process. These issues can delay the transfer of ownership or result in complications if not addressed properly.
- Title discrepancies: If there is a discrepancy between the information on the boat title and the actual vessel (such as an incorrect HIN or model year), you may need to provide proof of ownership or have the boat inspected. In these cases, you should work closely with the state agency to resolve any issues.
- Outstanding liens: If there is an outstanding loan or lien on the boat, the title change process may be delayed until the lien is satisfied. Lien holders must sign off on the title transfer before it can be completed. Make sure the boat is free of liens before initiating the process.
- Unpaid registration fees: If there are any unpaid registration fees or taxes associated with the boat, you may need to settle these before completing the title change. Ensure that the boat is up-to-date with all required fees before beginning the process.
Changing a Boat Title with Float Finance
At Float Finance, we understand that purchasing a boat is an exciting experience, and we aim to make it as simple as possible for you. If you’ve financed your boat purchase through us, we can guide you through the title change process, particularly if you’re looking to transfer ownership or update information.
As part of our customer service, we offer resources to help you navigate not just the financing aspect of owning a boat but also the administrative steps involved in boat ownership, such as title transfers. Additionally, Float Finance offers free warranties in the first year of the loan term for our boat loans, providing peace of mind that your investment is protected as you complete the paperwork for your title change.
Conclusion
Changing a boat title is an important step in managing your boat ownership, whether you’re buying, selling, or updating personal information. While the process can vary depending on your location and whether the boat is state-registered or federally registered, following the correct steps can help ensure that your title is updated smoothly and efficiently.
By understanding the process, gathering the necessary documentation, and working with the relevant authorities, you can easily change your boat title. If you have questions or need guidance during the process, Float Finance is here to help with resources and financing options to make boat ownership as easy and enjoyable as possible. Remember, once you complete your title change, you can confidently move forward with your boating adventure. We hope this helps you understand how to change a boat title.