Boat and Trailer received for $0 – what do I do now (Ontario)??
ByA friend of the family gave us his older fishing boat and accompanying trailer because he moved into a condo and didn’t have room for it. We have a bill of sale from our friend for zero consideration, the green Ontario permit for the trailer, and that’s it. The boat has been licensed as there are numbers affixed to the hull, but no other paperwork comes with it. It is an older boat from the mid-80′s and the trailer is from 1985.
My spouse and I have never operated a boat and plan to sell it. With respect to licensing, I was told to contact Service Canada. For the trailer, I am to deal with the Province of Ontario. We want to take the correct steps to get to the point where we can just sell the boat to someone – the problem is that we have no idea of the value or the steps that need to be taken to sell the boat. Do I have to get a new plate for the trailer? When I sell it, do we have to create a bill of sale for the boat and the trailer separately?
Thanks in advance….
I also forgot to ask – What constitutes “proof of ownership”? is the Bill of Sale from the previous owner to myself enough?
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1 Comments
June 12th, 2011 at 5:18 am
have owned many boats,
you have to register the boat with dept of fisheries (Can Gov)and the trailer with the department of transportation (Ont Gov)
You may or may not have to pay for gst on the value of the trailer and boat, along with the value of a trailer licence. The licence is a lifetime thing and only the one time charge. There is no fee for registering the boat.
The bill of sale form the previous owner should be ok.
hope this helps