Bill of Sale

A Standard Bill of sale for the sale of an SSR registered yacht will usually include the following clauses and declarations:

Note that for a UK Part 1 registered boat the official MCA bill of sale must be used and a new Declaration of Eligibility completed and signed by all the owners.

  • Name and definition of the boat
  • Name  and address of the seller
  • Name and address of the buyer
  • A statement that the share in the boat is passed to from the seller to the buyer in receipt of the payment.

The SELLER will confirm :

  • That there is no reason why the he cannot sell, that he is the true owner and that there are no mortgages or other charges on the boat.
  • Confirmation that the insurance on the boat will not be affected by the sale
  • Confirmation that all the monies payable to the group by the seller are up to date as at the date of the sale
  • Confirmation that the sale is not the result of a dispute within the group unless this has been declared to the buyer
  • Confirmation that the other owners of the boat approve the sale
  • The dates up to which the moorings, insurance and general maintenance costs for the group have been paid.

The BUYER will confirm:

  • That he takes over responsibility of the share
  • That he will enter into the share agreement

The bill of sale is signed by each party with a witness but not dated,  each then sends the original to Yacht Fractions.

When the funds and both bills of sale are received by Yacht fractions, the Bill of Sale will be dated, the seller will be paid and the signed and dated bills of sale will be mailed in the original to the Buyer and Seller respectively.