The Boat Sale Agreement serves as the primary legal instrument for transferring boat ownership in the United States. This document is essential whether dealing with personal watercraft, recreational vessels, or commercial boats. It protects both parties' interests by clearly documenting the terms of sale, vessel condition, warranties, and compliance with federal and state maritime regulations. The agreement includes crucial details such as vessel identification, price, payment terms, and transfer conditions, while ensuring adherence to Coast Guard documentation requirements where applicable. It's particularly important as boats represent significant investments and their sale involves complex legal and regulatory considerations.
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1. Parties: Identification of seller and buyer with full legal names and addresses
2. Background: Context of the sale and basic information about the vessel
3. Definitions: Key terms used throughout the agreement
4. Vessel Description: Detailed description of the boat including make, model, year, HIN, and specifications
5. Purchase Price: Agreed price and payment terms
6. Transfer of Title: Terms of ownership transfer
7. Representations and Warranties: Seller's statements about vessel condition and ownership
8. Closing and Delivery: Details of sale completion and vessel handover
1. Financing Terms: Additional terms and conditions when the purchase involves financing arrangements
2. Survey and Sea Trial: Terms governing pre-purchase inspection and testing of the vessel
3. Insurance Requirements: Specific insurance obligations during transfer and delivery
4. Broker Provisions: Terms relating to broker involvement and commission arrangements
1. Schedule A - Vessel Inventory: Detailed list of equipment and accessories included in sale
2. Schedule B - Maintenance Records: Documentation of vessel service history and maintenance
3. Schedule C - Registration Documents: Copies of current registration and title documents
4. Schedule D - Survey Report: Professional inspection report if conducted
5. Schedule E - Insurance Certificates: Proof of insurance coverage documentation
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