Boat Registration and Titling
Registration and titling are foundational to owning or operating any kind of watercraft from ski-boats to mega-yachts. Such factors are vital when it comes to protecting what is often a major investment, the availability of marine financing, penalty avoidance and perhaps even forfeitures. Boats differ from vehicles and real property as they may have become subjected to any combination of state, federal and foreign regulatory measures during their lifetime. This is why it is so important to learn about how the various aspects of registration and titling can impact your interests as a boat owner, marine lender or prospective buyer.
State Registration
States and U.S. territories each have their own requirements when it comes to the registration and titling of boats operating within their jurisdictions. Although mostly autonomous in their rules and regulations, certain standards are prescribed by federal legislation. These include registration, titling and numbering standards that must be adhered to nationwide. There are also federal requirements for hull identification number assignments and formatting. It should be noted that certain states are registration only in that boat titles are not available.
Federal Documentation
The federal government extends its authority in two areas of influence with respect to boat registration and titling. In addition to establishing national boating standards, it maintains a system for flagging or documenting both recreational and commercial vessels. This is administered by the U.S. Coast guard and culminates in the issuance of a Certificate of Documentation which serves as internationally recognized evidence of ownership. Although required for commercial activities, documentation is optional on recreational boats.
Foreign Registry
Boat registration, titling
and national flagging practices in foreign countries are mostly similar to
those here in the United States. Although the terminology may differ when it
comes to such things as provincial references, registry books and transcripts of registry. There is also a
matter of translations in non-English speaking jurisdictions and time zone
differences. Dealing with boat title and registration transfers into or from
foreign countries accordingly presents some issues beyond those of
domestically registered boats.
Conclusion
Sorting all of this out can be somewhat challenging for the layperson, especially when dealing with boats that may have been federally documented or foreign registered. We have accordingly gathered everything you should know into the boating community's premier source of registration, titling and transactional information. This includes guidelines, resources and definitions that will prove essential in determining the right options. You will also gain proven insights into the implementation of title or lien research and associated transactions.