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A boat bill of sale is a legal document that records the transfer of ownership of a vessel, often required for state-run permit applications. Crucial for both parties, it serves as 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, the date of the transaction, and the location of the sale. It’s important to note that if the buyer and seller are in different states, the applicable laws will be those of the state where the boat will ultimately be docked.
