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Jan 31, 2014 2:16 am
If Family member A wants to transfer ownership of a vessel to family member B, what is required? Is a bill of sale required being no money is changing hands? What is required when family member B goes to register vessel?
2 Replies
Jan 31, 2014 4:16 am
sign over the title and put in $0 on sale price. bill of sale stating it as a family member to member gift will also help..
pay the title and reg fees and your are set (you only get away with not paying sales taxes)
Feb 04, 2014 8:12 am
I've always just put $1 in the bill sale. That's what I've always been told to do. When you go to make the title transfer just tell them it was a gift. It's always worked for me and I've never had an issue. This was for cars by the way but the registration process is the same I believe.
