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Bill of Sale template. What is reasonable?


pedroinlondon

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Hi All

I'm not new to boating but the guys who want to buy my boat are, so I hope I'm posting this under the correct topic.

When I purchased my boat the bill of sale from the brokers was 1 1/2 pages long; a friend of mine who sold her boat in 2017 used a one-page doc. 

My boat's buyers sent me a ten page (yes, 10) template which they downloaded from the RYA website which to me seems excessive, by being unduly minutious and I think not reasonable for this section of the boat market.

I'm attaching the one bill sale from my friend here (photo) and the ten page template I was sent by my boats buyers (word format).

Could it be that this RYA document was intended for really boaty boats, including multi million pound vessels? Obviously there's a mention of a "sea trial" and "necessary crew", but also there seem to be provisions to stop the seller from disappearing into the wide open sea after getting the payment :) as well as a few others odd bits.

Anyone care to opine and even posting redacted templates of the bills of sale you have used?bill of sale redacted.docx

Many thanks

20210127_142837.jpg

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That says all it needs to say,  There is not enough space in that to put a proper address.

It is also normal the have the signatures witnessed by an independant person, so no one can say "that's not my signature"

 

The witness should also show their adddress and signature.

 

This is the Governments legally enforcable bill of sale document for a boat.

 

 

 

Bill Of Sale MCA.pdf

Edited by Alan de Enfield
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47 minutes ago, pedroinlondon said:

Thanks both. So where do you think this 10 page thing applies for? It's like not even similar to either one of your examples.

By the way, my boat is not a yatch but a canal widebeam.

I may have used unclear language on my original post.

 

 

The document previously shown is simply your 'receipt for payment and transfer of ownership'

 

The 10 page document you refer to is (probably) the BMF/RYA "Sales Contract"  (agreement to buy), and the terms and conditions which aply to the purchase / sale and agreed by both parties.

 

It lists who is responsible for insuring it, changes to the price following a survey, return of deposit, 'sea-trials' when it must be paid for etc etc and applies to all boats from a dinghy to a super-yacht.

 

You suggest it is not suitable for this 'section of the market', but without it your boat / £100,000 could be at risk.

 

eg. (extreme case)

You sell the boat without an agreement, a week later the buyer tries to take you to court for selling an unsafe boat that has killed his girfriend because of a leaky exhaust emitting Co into the cabin.

Alternatively, he has signed the T&Cs agreeing that he has had the opportunity to inspect the boat (or employ a qualified surveyor) which absolves you off responsibility once the boat has changed hands.

 

Your choice of course.

 

 

 

RYA Boat Sales Contract.pdf

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18 minutes ago, Alan de Enfield said:

 

 

The document previously shown is simply your 'receipt for payment and transfer of ownership'

 

The 10 page document you refer to is (probably) the BMF/RYA "Sales Contract"  (agreement to buy), and the terms and conditions which aply to the purchase / sale and agreed by both parties.

 

It lists who is responsible for insuring it, changes to the price following a survey, return of deposit, 'sea-trials' when it must be paid for etc etc and applies to all boats from a dinghy to a super-yacht.

 

You suggest it is not suitable for this 'section of the market', but without it your boat / £100,000 could be at risk.

 

eg. (extreme case)

You sell the boat without an agreement, a week later the buyer tries to take you to court for selling an unsafe boat that has killed his girfriend because of a leaky exhaust emitting Co into the cabin.

Alternatively, he has signed the T&Cs agreeing that he has had the opportunity to inspect the boat (or employ a qualified surveyor) which absolves you off responsibility once the boat has changed hands.

 

Your choice of course.

 

 

 

RYA Boat Sales Contract.pdf 534.62 kB · 2 downloads

 

I see. Thanks Alain

 

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1 hour ago, Alan de Enfield said:

 

 

The document previously shown is simply your 'receipt for payment and transfer of ownership'

 

The 10 page document you refer to is (probably) the BMF/RYA "Sales Contract"  (agreement to buy), and the terms and conditions which aply to the purchase / sale and agreed by both parties.

 

It lists who is responsible for insuring it, changes to the price following a survey, return of deposit, 'sea-trials' when it must be paid for etc etc and applies to all boats from a dinghy to a super-yacht.

 

You suggest it is not suitable for this 'section of the market', but without it your boat / £100,000 could be at risk.

 

eg. (extreme case)

You sell the boat without an agreement, a week later the buyer tries to take you to court for selling an unsafe boat that has killed his girfriend because of a leaky exhaust emitting Co into the cabin.

Alternatively, he has signed the T&Cs agreeing that he has had the opportunity to inspect the boat (or employ a qualified surveyor) which absolves you off responsibility once the boat has changed hands.

 

Your choice of course.

 

 

 

RYA Boat Sales Contract.pdf 534.62 kB · 2 downloads

You're quite right it is the same document. I've included in my post but not sure others can see it.  At the end of my test there should be a link to download a word doc named ''bill of sale redacted"

Just now, pedroinlondon said:

You're quite right it is the same document. I've included in my post but not sure others can see it.  At the end of my test there should be a link to download a word doc named ''bill of sale redacted"

Sorry: "it in my post" and "at the end of my text"

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4 minutes ago, pedroinlondon said:

You're quite right it is the same document. I've included in my post but not sure others can see it.  At the end of my test there should be a link to download a word doc named ''bill of sale redacted"

Sorry: "it in my post" and "at the end of my text"

 

 

I see it now but as it is titled 'Bill of Sale Redacted ' and then you included a 'screen shot' of a Redacted Bill of Sale I thought it was the same thing.

 

Never make assumptions !!

 

The 'link' you posted is not the 'Bill Of Sale', it is the contract Terms & Conditions.

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2 minutes ago, Alan de Enfield said:

 

 

I see it now but as it is titled 'Bill of Sale Redacted ' and then you included a 'screen shot' of a Redacted Bill of Sale I thought it was the same thing.

 

Never make assumptions !!

 

The 'link' you posted is not the 'Bill Of Sale', it is the contract Terms & Conditions.

Yes I got that from your previous replies. Not so much an ownership transfer but a contract to make sure I will actually bring the boat to the surveyor and what would follow, most of which are obvious and should not be mentioned, like the one that states the buyer can either not buy the boat or negotiate a discount depending on what the surveyor finds. 

Thanks a lot.

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1 hour ago, pedroinlondon said:

...........most of which are obvious and should not be mentioned, like the one that states the buyer can either not buy the boat or negotiate a discount depending on what the surveyor finds. 

 

 

 

That is not obvious - in fact some brokers T&Cs specifically state that the deposit is non-returnable if you decide not to buy the boat if the surveyor finds something you 'don't like'.

 

 

Things may be obvious or common sense, but that is unfortunately rarely suffcient when large transaction are involved.

You can easily end up with "he said, you said" or "you never told me that" if it is not written down.

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33 minutes ago, Alan de Enfield said:

 

 

 

That is not obvious - in fact some brokers T&Cs specifically state that the deposit is non-returnable if you decide not to buy the boat if the surveyor finds something you 'don't like'.

 

 

Things may be obvious or common sense, but that is unfortunately rarely suffcient when large transaction are involved.

You can easily end up with "he said, you said" or "you never told me that" if it is not written down.

There's something else I had no idea about. I always assumed a deposit would never be refundable. I could not be bother with demanding a deposit so didn't even look into it. If the buyer is taking the expense of paying for a survey, he's definitely serious about buying the thing...

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