Boating Tips: Title and Registration
Why Coast Guard Documentation?
Firstly, it's essential to understand that any boat can be state-titled, but Coast Guard documentation is reserved for boats measuring 26 feet or longer and weighing five net tons or more. So, why go the extra mile? Let's break down the advantages.
Smooth Sailing Through Foreign Ports:
When it comes to foreign travel, having your boat flagged as a U.S. vessel can be a game-changer. Unlike state-titled boats, foreign ports recognize and expedite the entry and exit of U.S.-flagged vessels.
Bank Financing Made Easy:
If your boat exceeds a certain dollar amount, banks often insist on Coast Guard documentation. This not only streamlines the financing process but also ensures title assurance.
The Coast Guard documentation system maintains a comprehensive abstract of every owner associated with the boat. From the first owner to the current one, this recorded abstract simplifies record-keeping, especially crucial when selling a large vessel.
Brokerage and Resale Value:
In the world of boat resale or brokerage, certain standards must be met. Coast Guard documentation fulfills these requirements, offering an added layer of credibility and assurance for potential buyers.
Unlike state-titled boats that may reveal ownership details through visible information like FL numbers, Coast Guard documentation keeps ownership details discreet. This confidentiality can be particularly appealing to boat owners who value their privacy.
So there you have it – a quick rundown of why someone might choose Coast Guard documentation for their boat. There are many other topics in the realm of finance and insurance, which we will cover in the future, but this is a question that often comes up that we felt that we should address.