I Sold My Boat - Checklist Of Things To Do
Congratulations on selling your boat! We hope this checklist is helpful.
1. Complete your Boat and Trailer Transfer Forms
Login to your Boatsonline/Yachthub account and click the 'Transfer Forms' button.
Transfer forms may need to be completed (signed by both the buyer and seller) when a boat is sold. In some states, its the seller's responsibility to submit the transfer forms, while in others, it’s up to the buyer. Either way, it’s important that you keep a copy of the transfer forms for your records.
2. Prepare a Receipt of Sale
While a receipt of sale is not legally binding, it’s good practice to keep a record of the transaction. If any questions arise later about the terms of the sale, such as what was included or the agreed price, having a written record protects both parties. This matters particularly in a private sale, where consumer law protections are more limited, as our guide on what to do when a private boat sale goes wrong explains.
3. Notify your Insurance Company
Be sure to notify your insurance company of any changes as soon as possible after the sale. You may even be due a refund on your remaining premium! If you are buying another boat, our guide on insuring your boat: top tips for boat insurance is a useful starting point for understanding what cover you’ll need.
4. Remove your Ad from Boatsonline/Yachthub
Please login to your account to remove your Ad. It may be a good idea to print your Ad for your records.
Frequently Asked Questions
Who is responsible for completing the boat transfer forms after a sale?
This depends on the state. In some states it is the seller’s responsibility to submit the transfer forms, while in others it falls to the buyer. Both buyer and seller should sign the forms, and it’s important to keep a copy for your own records.
Do I need a receipt of sale when I sell my boat?
A receipt of sale is not legally binding, but it is good practice to prepare one and keep it as a record of the transaction, including the agreed price and what was included in the sale.
Should I tell my insurance company after selling my boat?
Yes. Notify your insurance company of the sale as soon as possible, since you may even be entitled to a refund on your remaining premium.
How do I remove my boat ad once it's sold?
Login to your BoatsOnline or YachtHub account to remove your ad. It can be a good idea to print your ad first for your own records.
