Boat Sales Contract

[Quandary]

I have had an acceptable offer for my boat (by email) and am preparing a check list of how to proceed, advice on the correct legal sequence would help me.
1 I join the RYA and obtain copy of Bill of Sale (or obtain an MCA form? this was used before in the boats history). Prepare a declaration of ownership, 'free of encumbrances'?
2 Fill in details on Bill of Sale, sign and witness and forward to purchaser who completes form and pays a 10% deposit in to my bank?
3 Purchaser arranges for survey and passes report to me if requiring repairs or price adjustment. The survey lift will involve moving the boat to a marina about 5-6 hours away , I presume the purchaser is responsible for cost but I am responsible for risk in the transit and return if it does not stay there. (My insurance?)
4 The purchaser pays the balance in to my account, I provide documentation, Bill of Sale, proof of Vat paid. Anything else?
5 The purchaser now owns the boat and I terminate my insurance and buy a motorbike.

What I am trying to establish is the relationship of the two payments to the provision of documentatation. While I do not anticipate difficulty the movement of the boat to the purchasers marina for survey may leave me a bit more vulnerable in the event of a dispute.

 

[searocket]

There would typically be a contract drawn up once the price is agreed , signed and the deposit paid. That's then legally binding.
The bill of sale follows after survey and balance is paid , which is also the transfer of ownership.
It would be reasonable to give the purchaser sight of original documents and even copies before hand, then there is no confusion over what docs come with the boat.

 

[jwilson]

In 2 you are confusing Sale & Purchase Agreement with the Bill of Sale. The Sale & Purchase Agreement comes first, both buyer and seller sign this and (usuall) the buyer puts down a deposit, often 10%. Once all is agreed, and you move on to completion of the sale, the buyer pays the balance and the seller signs the Bill of Sale. Only the seller signs this, though it has both buyer and sellers names on it. On the day of completion the buyer takes over the boat and all supporting documentation.

For private sales use the RYA Sale Agreement, and they also provide a form of Bill of Sale, though most people use the MSF4705 form which you can download from the MCA.

 

[V1701]

You don't need to join the RYA to get the bill of sale form or if they've made it that you do use the MCA form instead...

 

[Quandary]

You don't need to join the RYA to get the bill of sale form or if they've made it that you do use the MCA form instead...

The MCA form was used before in the sale to me, its sale agreement seems much more aligned with selling using a broker or an agent while the RYA provide wording for a private sale, in order to keep it as straightforward as possible for the purchaser and myself I think it safer to pay the sub.

I am fairly clear of my duties now thanks to JW and Searocket.

 

[jwilson]

The MCA form was used before in the sale to me, its sale agreement seems much more aligned with selling using a broker or an agent while the RYA provide wording for a private sale, in order to keep it as straightforward as possible for the purchaser and myself I think it safer to pay the sub.

I am fairly clear of my duties now thanks to JW and Searocket.

There is no MCA sale agreement, only a bill of sale and various forms relating to registration. Brokers use different sale agreements to the RYA one as it is then a three-way not a two-way contract, Some brokers use the ABYA contract, others use their own generally similar ones, but none are from the MCA.