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A boat bill of sale is a legal document recording the transfer of ownership of a vessel and may be required for state permit applications. It serves as proof of transaction and provides documentation for tax purposes. Essential elements of a boat bill of sale include the identities of the buyer and seller, the sale price, and the date of the transaction. It's advisable to document the transaction location, especially if the buyer and seller are in different states or if the boat is located elsewhere. The applicable law will be determined by the state where the boat will eventually be docked.
