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A boat bill of sale is a document detailing the transfer of a watercraft from seller to buyer. It is essential for successful title transfer in both private and commercial deals but cannot be used as ownership proof. For the seller, it confirms the buyer's payment and agreement on the boat's condition, limiting their responsibility for post-sale issues. For the buyer, it provides a way to resolve disputes if the seller withheld information about the vessel's defects. The document must include buyer and seller details, boat information, and terms of sale.