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A boat bill of sale is a legal document that transfers ownership of a vessel and may be required for state permit applications. It serves as proof of transaction and for tax documentation. Key elements of a boat bill of sale include the identities of the buyer and seller, the sale price, and the official date of the exchange. It's also advisable to note the transaction location, especially if the buyer and seller are in different states or if the boat is located in another state at the time of sale. The relevant laws will correspond to the state where the boat will ultimately be docked.