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-   -   Quick ? about selling a boat in CA (http://www.wakeworld.com/forum/showthread.php?t=780669)

mike3500 06-16-2010 12:10 PM

Quick ? about selling a boat in CA
 
Once the $$ is transferred at the bank, and the bank releases the lien, am I ok to hand over the keys at that time, or do I wait for the pink to be transferred (which would take another week or so)? If you can't tell, it's my first time doing this.

I guess I also file a Notice of Transfer and Release of Liability with the DMV.

What else should I do to feel comfortable about not having any liability once the buyer drives off with the boat?

Thanks

wake77 06-16-2010 12:24 PM

Make sure you have him sign some sort of form saying that he is buying the boat "as is".

acurtis_ttu 06-16-2010 1:15 PM

As jeremy mentioned....buying "as is" is a good idea. some sort of indemnification clause in your bill of sale.

Aftre that, once cash is in your hand.....the buyer can pound sand as far a I'm concerned. It's not wal-mart.....no returns.

Unless you knowingly sell a polished turd to someon , the buyer has no re-course

guido 06-16-2010 1:24 PM

From a legality standpoint you should be covered. Just make sure to fill out a bill of sale and a release of liability.

mike3500 06-16-2010 3:13 PM

thanks guys. my buyer is very cooperative, and we plan on going to AAA to do all the DMV paperwork together after the bank. I will look for some sort of memo to help me with the sold "as-is" piece.

three6ty 06-16-2010 7:00 PM

I ,Insert your name, Agree to sell the boat referenced below ( year, make, hull ID# and trailer Vin #) to , Insert his Name, on , Insert Date, for , Insert Price. I am selling the below refereced boat "As is " and agreed upon buy both the buyer and seller for the stated price above. I am releasing liabilty of the boat to the buyer on , insert date, and will provide the Pink Slip of the boat and trailer , when it is received by me from the bank holding the lein.

Have both parties sign and date this.
Its as simple as that. You can use this as your bill of sale, release of liability , and declaration of working status.

colombiansurfer 06-16-2010 9:11 PM

Make sure that the boat has not been sunked like Lon's.

mike3500 06-18-2010 12:58 PM

THANKS AGAIN GUYS. I sold it this morning!!

E Double - thanks for your post. I had it ready for him to sign, but we went to AAA, and completed everything together, along with watching him pay taxes. Those taxes suck!! All went very smooth.


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