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A boat bill of sale is a legal document that records the transfer of ownership of a vessel or watercraft. Depending on state regulations, it may be required for various state-run permit applications. Bills of sale are useful for both parties as they provide proof of the transaction and documentation for tax purposes. Key components of a boat bill of sale include the identities of the buyer and seller, the sale price, and the date the transaction becomes official. It's also advisable to indicate the location of the transaction, especially if the buyer and seller are in different states. The relevant laws will be determined by the state where the boat will be docked.
