Originally Posted by Ftbinc
Looking for guidance. We have updated our trust documents and need to re-document the boat in the name of the trusts. Has anyone done this recently? what is involved? the boat is in each of our names currently and we want to re-document in the names of the trust instead.
Any help is always appreciated.
OMA - KK Manatee
USCG 50 Ton Master
US Sailing Certified Judge
You say document so I'm assuming it is a documented boat. In this case, it's simply a transfer, no different than a sale or any other transfer.
Now, if your state requires registration, you'll have to fill out paperwork there to transfer it, often just on the back of the registration, but you may have to show further evidence that it's not a sale subject to sales tax. This may or may not change any property tax situation depending on the state.