This is a Bill of Sale that transfers ownership of the vessel from the Transferor to the Transferee without having to move the ship/ boat by the transfer of possession to the new owner.
The agreement should include the date of transfer and details of the vessel/ boat/ ship such as its name, length, and tonnage. The consideration/ amount paid for the vessel, the percentage of interest in the vessel is being transferred, and charges/ encumbrances associated with the vessel (if any) should also be clearly stated in the Bill.
The document should be carefully read by the individual Transferor and Transferee.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
The Bill of Sale should be registered with the relevant shipping registry at the jurisdiction where the vessel is registered.
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