Boat Purchase Agreement
A private-party boat purchase agreement — buyer and seller, vessel (HIN, year, make, model), motor (serial), trailer, price, deposit, condition + as-is or warranty, title + transfer, and signatures.
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BOAT PURCHASE AGREEMENT
Dated: June 10, 2026
PARTIES
SELLER: James A. Henderson
618 Lakeshore Drive, Springfield, IL 62701
BUYER: Morgan Lee
218 Linden Ave, Springfield, IL 62701
VESSEL
Registration: state titled
Year / make: 2018 Boston Whaler 210 Montauk
HIN: BWCE10421J718
Length: 21 feet
MOTOR
Make / model: Mercury 150 hp four-stroke
Serial: 1B991208
Hours: 215 hours
TRAILER
2018 Load Rite single-axle galvanized · VIN 4ZEAA21B0J1234567
PRICE & PAYMENT
Purchase price: $38,500
Deposit: $2,000 (non-refundable after satisfactory sea trial)
Balance: due at closing
Closing date: June 28, 2026
CONDITION
Terms: as is
Notes: Sea trial completed 2026-06-08; motor compression test on all cylinders within spec; hull free of blisters; bilge pump operational. Known: GPS unit has intermittent power, will be replaced by seller pre-close. All other systems sold as-is.
TITLE & TRANSFER
Seller represents that title to the vessel and motor is free and
clear of all liens, that the HIN and motor serial number above
match the documents of record, and that there are no outstanding
property-tax, slip-fee, or storage liens against the vessel.
At closing, seller will deliver to buyer (a) signed title /
Coast Guard bill of sale and Form CG-1340 where applicable,
(b) trailer title if included, (c) any prior owner manuals,
service records, and a signed bill of sale stating the purchase
price for the buyer's titling and tax filing in the State of
Illinois.
AS-IS / SEA TRIAL
Buyer has had the opportunity to inspect and sea-trial the vessel.
Except as expressly stated in the "condition notes" above, the
vessel, motor, and trailer are sold AS-IS, WHERE-IS, with no
express or implied warranty of merchantability or fitness for any
particular purpose, beyond what is required by state law.
USE-TAX & REGISTRATION
Buyer is responsible for state use-tax (sales-tax-equivalent)
filing and vessel + trailer titling with the State of Illinois
within the state's filing window (commonly 14–30 days after
purchase). Seller will sign the title and provide a notarized
bill of sale to support that filing.
ENTIRE AGREEMENT — SIGNATURES
This document is the entire agreement of the parties for this
vessel. No oral statement modifies it. Amendments must be in
writing signed by both parties.
Seller: ____________________________ Date: ____________
James A. Henderson
Buyer: ____________________________ Date: ____________
Morgan Lee
About this template
A **boat purchase agreement** is materially different from a car bill of sale, and the differences trip up first-time buyers and sellers every season. First, **two titles**. The hull and the motor are typically titled separately in most US states; on older Coast Guard documented vessels the hull is documented federally while the trailer is titled by the state. The agreement must capture the **HIN** (hull identification number — twelve characters, mandatory since 1972, stamped on the transom), the **motor serial number**, and the **trailer VIN** if a trailer is included. Second, **survey and sea trial**. On boats above a few thousand dollars, the standard is to make the deposit non-refundable only **after satisfactory sea trial and marine survey** (or short of survey, an on-water inspection by the buyer). The survey covers hull, mechanical systems, fuel, electrical, safety, and a compression test on the motor; surveyors run $20–30 per linear foot on the East Coast. Third, **as-is is the norm**. Private-party boat sales are almost universally as-is — buyer's inspection is the protection, and the bill of sale should say so explicitly. List **known defects** in the agreement so the seller is not later accused of concealment. Fourth, **use tax + titling**. Most US states charge a **use tax** equivalent to state sales tax at the buyer's title-transfer office, with a filing window (commonly **14–30 days**) and a penalty for late filing. The buyer needs a **notarized bill of sale** stating the actual price so the state can compute the tax — undervaluing on the bill of sale is **tax fraud** in most states (and the state will assess against a published value if the stated price is unreasonably low). Fifth, **liens**. Boats can carry slip-fee liens, storage liens, and state property-tax liens that are not always recorded in obvious places; the seller should warrant title free of liens, and a quick call to the state vessel-titling office can verify. Sixth, the **trailer** has its own paperwork — title + registration, often separately recorded. If the trailer is included, name it in the agreement and transfer it at the same time. **Coast Guard documented vessels** (commercial vessels and many recreational vessels over 5 net tons) require additional federal paperwork — a **Bill of Sale on Coast Guard form CG-1340** and an **Application for Documentation (CG-1258)** filed with the Coast Guard National Vessel Documentation Center. The agreement should note whether the vessel is state-titled or documented.
When to use it
- Private-party recreational boat sale.
- Boat-with-trailer sale where both are transferring.
- Coast Guard documented vessel transfer (with the additional CG forms).
- Family / estate transfer of a vessel.
What to include
- Parties: full legal names and addresses.
- Vessel: HIN, year, make, model, length, registration type.
- Motor: make, model, serial, hours.
- Trailer: included or not; year/make/VIN if included.
- Price, deposit, closing date.
- Condition / warranty (as-is, with-survey, or limited warranty).
- Title-clear warranty and use-tax / titling responsibility.
- Signatures (notarized in some states).