An Indiana boat bill of sale is a receipt for the purchase of a watercraft between a private seller and a buyer. This document includes pertinent information on the vessel, such as the hull identification number, year, make, model, and registration number. The purchase price and date of the sale will be detailed below the vessel information section. Both the buyer and seller will enter their names, addresses, and signatures on the form. A bill of sale is not legally required to conclude a private sale, but the parties may wish to complete one to maintain for their records.
Indiana Boat Titling/Registration
After a successful boat sale, the seller must sign the title over to the buyer. The buyer is required to title and register the boat under their name with the Bureau of Motor Vehicles (BMV) within forty-five (45) days of the sale. The new owner will have to carry out the following to complete the titling/registration process:
- Complete the Application for Certificate of Watercraft Title.
- Gather proof of ownership (signed title or bill of sale) and proof of residency (driver’s license, ID card, social security number, etc.).
- Gather payment for sales tax (7%), excise tax, and title and registration fees.
- Visit a BMV branch to submit the abovementioned forms and fees.