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Coast Guard Docs question, no title

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Old 02-02-2012, 09:56 PM
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Default Coast Guard Docs question, no title

I'm gonna throw this out there, don't beat me up.....just help if you can.

Buying a boat that has Coast guard Docs, no title was ever issued. The current owner never did a thing with the paper work, however he has the bill of sale to him. The CG docs are still in the original owners name. It is a 2 owner boat, however legally it has only one owner history

He has to transfer the info into his name before my bank will release the funds to his name. Right now they want to cut the check to the "owner" listed on the Docs

Any idea how long this transfer will take? Can this be done on the Coast Guard website or does the original owner have to do it? Any speed bumps he will run into, seeing that he has "owned" the boat for 4 years but never registered in his name?

I know some of you will say "run" however, I am too deep and too in love with the boat. Just help if you can

Thanks!
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Old 02-02-2012, 10:16 PM
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Quote:
Originally Posted by 4bus View Post
I'm gonna throw this out there, don't beat me up.....just help if you can.

Buying a boat that has Coast guard Docs, no title was ever issued. The current owner never did a thing with the paper work, however he has the bill of sale to him. The CG docs are still in the original owners name. It is a 2 owner boat, however legally it has only one owner history

He has to transfer the info into his name before my bank will release the funds to his name. Right now they want to cut the check to the "owner" listed on the Docs

Any idea how long this transfer will take? Can this be done on the Coast Guard website or does the original owner have to do it? Any speed bumps he will run into, seeing that he has "owned" the boat for 4 years but never registered in his name?

I know some of you will say "run" however, I am too deep and too in love with the boat. Just help if you can

Thanks!
Call Sharon Chadwick at Sharon Chadwick Vessel Documentation Service. Pay the $495.00 and make sure it is done right, make sure you own it when you or your bank pays for it. She can make sure there is no lien, service, stowage or mechanical liens. Title search and everything. 954-462-8971, [email protected]

Last edited by blume; 02-02-2012 at 10:18 PM.
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Old 02-02-2012, 10:17 PM
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You should be able to have a Coast Guard Bill of Sale from the original owner to the current owner, and then another CG Bill of Sale from the current owner to you. A copy, or better yet the original, of the CG Document itself would also help. We use a Documentation company to do all of our paperwork, so I would suggest contacting them directly. They will know if there is a problem, but in my experience you are probably OK. You do need to have an "abstract" run on the vessel to make certain that there are no liens on it. The seller might have a problem with the sales tax people, particularly in NY where they are on the prowl for EVERYBODY!

Hope this helps. Good luck.

Tom
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Old 02-03-2012, 08:08 AM
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coast guard was at aprox 8 weeks to process when I spoke with them in Oct
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Old 02-03-2012, 08:52 AM
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You can get an abstract of title in a few days to a day yourself simply by filing the paperwork and following up with a phone call and a credit card payment. They can fax it to you and follow up by mail.

Abstract will show all the info you need, and if there are any liens on the boat. The Abstract of title is less than $50.00. The rest of the forms you need can be downloaded directly from their site. If there are any leins showing, if they were paid off, but not showing as such, you will need original lien release letters from the finance company usually.

The Documentation services make it easy on you, they do all the work, but you can do it yourself and save some $$$$$ if that is a concern. How long it takes with a service depends on their current work load.

Getting the actual documents in your name and paperwork back will probably be 8-10 weeks for the vessel showing in your name.

Do your homework before you jump, get everything straight, no matter how much you love the boat before you hand over any $$$$$.....
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Old 02-04-2012, 12:24 AM
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On the same subject I bought a boat that was documented free and clear. Now I want to register the boat. I send the original doc paper work in with the sellers signature on the back notary is done and a $15 dollar fee. Then I get the release paperwork back so I can title and register correct?????
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