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BACKGROUND REPORTS
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Can
we perform our own vessel documentation services? -
Coast Guard documentation has become much easier to administer with
the introduction of simplified rules and new electronic filing
methods. As a result, there is a growing proliferation of marine
enterprises that are now offering this type of service. New boats
are particularly easy to document because the paperwork is minimal
and it does not involve an abstract or title search. Boat
dealers, especially those with in-house financing personnel, may
accordingly wish to consider this as a source for additional
revenues. Our self service documentation kits are ideal for this
purpose as they contain all necessary forms, instructions, examples,
and guidelines for each type of application.
Do we need a builder's certificate or MSO for a new boat?
- A builder's certificate is designed for Coast Guard vessel
documentation purposes whereas the Manufacturer's Statement of
Origin (MSO) is designed for state level usage. They both serve the
same purpose as an initial title document and will be accepted by
either agency. However, a builder's certificate will be required
in order to establish evidence of build for commercial
documentations. On recreational vessels, the build information will
be left blank on the document and abstract of title unless a
builder's certificate is presented.
Do you have a boat registration database for every state?
- Although our BoatScope database service contains records for
Coast Guard documented boats, it does not offer ownership and boat
records on the state level. This is due to very strict
anti-disclosure laws which are now in effect for most jurisdictions.
BoatScope does however provide instructions, forms, and contact
information for conducting record searches and obtaining print-outs
from every state nationwide. In fact, our service even contains such
information for most foreign countries.
Do you have a Coast Guard documentation database? -
Our very own BoatScope service offers the internet's most
comprehensive Coast Guard Vessel Documentation database. It contains
ownership and vessel records for currently documented vessels and
most of those which have dropped out of documentation over the past
ten years. With nearly 500,000 documentation records, this makes it
the largest and most exclusive vessel database available to the
boating public.
Do you have an affiliate program for boat dealers?
- Although we have a great web partners program, it does
not afford direct financial incentives for referrals to our site.
Instead, we offer dealers the opportunity of gaining exposure to
prospective boat buyers from all over the world. MarineTitle.com is
now the internet's top ranked source for Coast Guard vessel
documentation and boat registration information. Our link exchange
program not only offers mutual prospecting benefits, but is a great
customer service for boat buyers who are seeking this type of
information. We invite you to join our web partners program today by
clicking on the link shown below.
How
do we determine marking requirements for new boats? -
The differences in Coast Guard documentation and state registration
methods create a lot of confusion regarding the requirements for
display of boat names, official numbers, registration numbers, and
decals. An improperly marked boat can invite enforcement penalties
and create problems when transferring ownership.
How reliable are boat history report services for our trade-ins?
- Boat history search and report services are a valuable
tool for dealers seeking background information on trade-ins.
However, these should never be relied upon as conclusive evidence
that any particular boat has a clear history. Although our BoatScope
database service provides an enormous amount of historical data, it
also comes with some very strong caveats. Information gathering on
boats that have been stolen, damaged, auctioned, recalled, and those
which have been involved in accidents or other incidents is not an
exact science. Governmental data sources are rife with errors or
omissions and there are simply no other resources that offer
complete or unequivocal information regarding the historical aspects
of any boat.
Should we become
involved in paper trades?
- Paper trades are quite workable from a boat titling and
registration perspective. Coast Guard and state boat registration
agencies are only concerned about the necessary transfer documents
to constitute a complete chain of ownership as it is portrayed on
paper. However, the respective tax collection agency may dispute a
tax reduction under such circumstances if it is not a bona fide
trade. The determining criteria is typically based on whether the
dealer truly stands to gain a profit or suffer a loss from accepting
the trade-in. At best, the it should be shown in the purchase
agreement and settlement statement of the original boat transaction.
The dealer must of course suffer the consequences or attempt
to recover additional taxes should the trade be disallowed. Dealers
who operate in those states which do allow trade-in tax reductions
should accordingly take a very close look at the tax agency's
policies in this regard.
Should we establish title in our name to a boat trade-in?
- Most states allow boat dealers to register a trade-in
for title purposes only without any tax implications. Coast Guard
documentation is also possible if your business entity meets
citizenship requirements and the vessel is large enough to qualify. As to
whether you should depends on your own particular circumstances.
Many dealers will simply hold the bill of sale or other transfer
documents in a secure place pending an eventual sale of the
trade-in. This is generally acceptable to most flooring companies as
they realize the effort and expense of implementing title recordings
for every boat taken in trade. As for subsequent titling or
registration under a purchaser's name, this is generally a
non-issue. However, there could be insurance, liability, taxation,
and other implications in foregoing the titling option. These concerns should
be addressed with your accountant and attorney to determine the
practice which best suits your needs.
What kind
of boat dealer services do you offer?
- As a web based enterprise, our services are mostly comprised of
economical self-service kits,
forms, and handbooks which can be accessed directly from our site.
Plus we offer our BoatScope service, the nation's largest searchable
online boat record database. As for full-services, we have partnered
with a very good boat title company that can provide a complete
range of vessel documentation and nationwide state level
registration services. Each service listed on our site has a
corresponding option for obtaining a full-service quotation.
When should we recommend vessel documentation?
- Coast Guard Vessel documentation is of course a moot
point if the boat is less than approximately 25' in length or the
buyer is not a U.S. citizen. A qualified vessel must otherwise
become documented when it is to be used commercially or the buyer's
lender insists on having a preferred vessel mortgage. Beyond this,
it becomes a matter of preference on behalf of the buyer. In making
such determination, we suggest that you recommend a visit to the
Federal and State pages of our web site. These will provide a buyer
with all of the information and facts necessary to make such a
choice.
Where can we find a
mailing list of all boat owners?
- Our BoatScope database service can easily facilitate
ownership mailing lists for vessels which are documented with the
U.S. Coast Guard. It also has an exclusive feature which includes
records of those which have dropped out of documentation over the
past ten years. Ownership listings for state registered boats are
however not generally available to the boating industry. This is due
to strict anti-disclosure laws now in effect for most jurisdictions.
As for those few states that do provide such lists, the cost is very
prohibitive and may run into thousands of dollars for a single
subscription. BoatScope does facilitate instructions, forms, and
contact information for obtaining individual boat records from every
state. Other internet services that offer complete state level boat
owner listings should be approached with caution as these are
usually incomplete, outdated, and very expensive. |
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