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Liens
Mar 18, 2007 9:33:47 GMT -5
Post by TOO EZ on Mar 18, 2007 9:33:47 GMT -5
I have a Question......
DE is a Titless state. I have a Loan for the BF
So, my question is - Is the loan Secured w/ the BF? IF so... How do I search and find out of thier is a Lien filed against the BF?
Or... Is the loan just merely a Personal Loan now because there is No Title to secure the collateral with.
I was told if/when I sell the boat - All I need to do is make out a Bill of Sale and sign over the blue card.
Anyone know the answer to this?
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Liens
Mar 18, 2007 10:14:01 GMT -5
Post by blueprints on Mar 18, 2007 10:14:01 GMT -5
All I have ever done is write up a bill of sale & have it notorized. hand over the registration paper & the card.
I have never bought a boat that had a loan on it nor have I ever had a loan on a boat so I don't know.
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Liens
Mar 18, 2007 19:02:01 GMT -5
Post by Daddys Toy on Mar 18, 2007 19:02:01 GMT -5
ya know, you REALLY gotta pay attention to how something is stated. I'm disappointed no one else picked up on this...
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Liens
Mar 19, 2007 8:12:28 GMT -5
Post by don on Mar 19, 2007 8:12:28 GMT -5
I believe the commonly accepted bill of sale form is Coast Guard (CG-1340) and the pdf is on the CG site. This activity was administered by the CG from Martinsburg, WV as recently as 2 years ago. This is accepted by most state authorities to document transfer and I have used to sell state registered boats between PA and DE, DE and WV, PA and WV, MD and DE, and DE and NC. This is in addition to any Coast Guard / Federal documentation requirements.
Is the vessel registered in DE, or is documented with the feds?
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Liens
Mar 19, 2007 15:38:21 GMT -5
Post by TOO EZ on Mar 19, 2007 15:38:21 GMT -5
I believe the commonly accepted bill of sale form is Coast Guard (CG-1340) and the pdf is on the CG site. This activity was administered by the CG from Martinsburg, WV as recently as 2 years ago. This is accepted by most state authorities to document transfer and I have used to sell state registered boats between PA and DE, DE and WV, PA and WV, MD and DE, and DE and NC. This is in addition to any Coast Guard / Federal documentation requirements. Is the vessel registered in DE, or is documented with the feds? The Blackfin is Reg. in DE. So, all I have is a Blue Reg. Card. .....and a 15 year payment book from M&T Bank! LOL!
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Liens
Mar 19, 2007 15:44:31 GMT -5
Post by don on Mar 19, 2007 15:44:31 GMT -5
Ryan, just check the coast guard site for the current reve of thier bill of sale document (was the CG1340). Fill in the blanks, get the signatures, and if possible have it notarized. Don't know wher the boats going but be cautious about buyer trying to dodge the tax on his end by understating value on bill of sale. What can go wrong will go wrong and you would be implicated.
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Liens
Mar 19, 2007 16:10:25 GMT -5
Post by blueprints on Mar 19, 2007 16:10:25 GMT -5
That coast gaurd form looks good, A hell of a lot better than the handwritten ones i have done.
One note: A notary is required for all boat sales in DE, do not waste your time unless you have a notory sign off on the bill of sale.
Don, What taxes are there on boats? I have never heard of this before. All you pay is a yearly registration fee.
Kyle
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Liens
Mar 19, 2007 17:13:47 GMT -5
Post by Bountyhunter on Mar 19, 2007 17:13:47 GMT -5
That coast gaurd form looks good, A hell of a lot better than the handwritten ones i have done. One note: A notary is required for all boat sales in DE, do not waste your time unless you have a notory sign off on the bill of sale. Don, What taxes are there on boats? I have never heard of this before. All you pay is a yearly registration fee. Kyle I have always payed sales tax when you go to register it in Del. , boats, mobile homes and cars.
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Liens
Mar 19, 2007 20:20:32 GMT -5
Post by don on Mar 19, 2007 20:20:32 GMT -5
Jeff, what tax? You mean registration fee but DE has no sales tax. I'm talking about state sales/use tax, which in PA is 6%. All other states nearby charge sales tax to register a vehicle. Matter of fact PA resident is supposed to declare 6% use tax on those "out of state" purchasesi in lieu of sales tax...LOL. How's that working out for everyone?
can't register a boat i n any surrounding state without paying 5 to 8%. In some transactions buyers will ask you as seller to understate the sale $ amount so they pay less tax. A few bucks is one thing but the zeros add up.
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Liens
Mar 19, 2007 20:38:24 GMT -5
Post by blueprints on Mar 19, 2007 20:38:24 GMT -5
Ok now I am confused you have to pay sales tax on used boats in other states. I know they charged for a new boat but used also. That is BS.
I'm on boat number 7 & have yet to pay a dime to the state of Delaware.
Kyle
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Liens
Mar 19, 2007 20:50:15 GMT -5
Post by Bountyhunter on Mar 19, 2007 20:50:15 GMT -5
Jeff, what tax? You mean registration fee but DE has no sales tax. I'm talking about state sales/use tax, which in PA is 6%. All other states nearby charge sales tax to register a vehicle. Matter of fact PA resident is supposed to declare 6% use tax on those "out of state" purchasesi in lieu of sales tax...LOL. How's that working out for everyone? can't register a boat i n any surrounding state without paying 5 to 8%. In some transactions buyers will ask you as seller to understate the sale $ amount so they pay less tax. A few bucks is one thing but the zeros add up. Registration is only $20 in De for a year but the taxes on new prchase is much more than that when first bought . so I take that as a sales tax not registration.
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Liens
Mar 20, 2007 9:38:17 GMT -5
Post by don on Mar 20, 2007 9:38:17 GMT -5
There is obviously some confusion. I've brought 3 boats into Delaware and was never assessed sales tax to register in Delaware. The boats were all pre-owned and had been previously registered in other states. If I had done those transactions in PA, MD, or NJ it would have totaled about 15000 in sales tax, but instead I only had to pay the registration fee.
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Liens
Mar 20, 2007 16:28:43 GMT -5
Post by Bountyhunter on Mar 20, 2007 16:28:43 GMT -5
There is obviously some confusion. I've brought 3 boats into Delaware and was never assessed sales tax to register in Delaware. The boats were all pre-owned and had been previously registered in other states. If I had done those transactions in PA, MD, or NJ it would have totaled about 15000 in sales tax, but instead I only had to pay the registration fee. I stand corected, I paid DMV Doc Fee , Title fee , 3 yr reg. UCC Fee , T-tag Fee and that was the total fees for our new boat. Thoses fees were over 250 . I had to look at the paper work to see what the fees were that we were charged.
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Liens
Mar 22, 2007 11:28:57 GMT -5
Post by deeppockets on Mar 22, 2007 11:28:57 GMT -5
I agree, thats why I bought & registered my boat in DE and I live in PA, to avoid the sales tax
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Liens
Mar 22, 2007 15:24:46 GMT -5
Post by Five4fighting on Mar 22, 2007 15:24:46 GMT -5
I agree, thats why I bought & registered my boat in DE and I live in PA, to avoid the sales tax DITTO!!! Plus, I guess the rule of thumb is that you should register it where you will use it the most. My boat never leave DE.
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