Change of Boat Ownership Details

[jaminb]

As part of my divorce settlement I am taking my ex wife's 50% legal entitlement to my boat.

How can I record this so that it will adequately satisfy whoever; SSR; customs; future purchaser; future claims against my estate etc. I think I need a new Bill of Sale without her name on it but how, as no sale is taking place.

I am begrudgingly settling by agreement so I am being advised by my solicitor the change in ownership needs to happen in advance of the formal court order recording it.

thanks in advance

 

[Biggles Wader]

You could buy the other shares for a nominal amount (£1) and do a bill of sale accordingly.

 

[billskip]

As part of my divorce settlement I am taking my ex wife's 50% legal entitlement to my boat.

How can I record this so that it will adequately satisfy whoever; SSR; customs; future purchaser; future claims against my estate etc. I think I need a new Bill of Sale without her name on it but how, as no sale is taking place.

I am begrudgingly settling by agreement so I am being advised by my solicitor the change in ownership needs to happen in advance of the formal court order recording it.

thanks in advance

Your final papers should say she or you both can not make future claims, like if you won the lottery the week after.
Also it may not be so simple if children are involved.....

 

[jaminb]

Billskip that is kind of my point. If I don't change the current ownership arrangements on the Bill of Sale document she wont need to make a future claim.

 

[billskip]

Well as Biggles said buy her out for £1...but I don't know how secure that would be for future....you solicitor should be able to write something up in agreement with her solicitor....

I've been through it twice ...first time the lawyer's agreed to change house title to my name, second time it was a awkward but I soon put a stop to her nonsense claiming for everything...ended up even split but that was only because I valued my freedom otherwise she would still be wanting.

 

[Tranona]

Presumably your current BoS shows her owning 50%. If so you need a BoS from her to you for her 50% plus confirmation that she has no further claim on the boat. When you sel you will be able to show title to based on the first Bos which covers the first 50% and the new one for the remainder. You can then pass title with a 100% BoS to the purchaser. Can't see why you should have any problems with either SSR or customs. Being able to transfer title is the key concern.

 

[Refueler]

When I divorced in UK ... Wife and I had a joint signed letter presented to court listing the distribution of assets. The boat was listed to be my sole ownership and against that was a value to adjust the House split.

Its how we did everything in fact ... we sat down and put market value against each item ... and two columns ... Mine - Hers. We then ticked each column respectively ... and totaled up at bottom the offset to the house split value.

Only upset was when her Solicitor tried to be clever - ignoring Ex's instructions ... solicitor told court that I was no longer all time in UK and could fail to comply ... also that she requested a greater % be given over to my Ex. This caused court to require me to appoint legal representative costing me an arm and a leg !! My Ex tore strips of that solicitor in front of my rep and myself.

Anyway - letter of assets division was accepted and became part of the Divorce Settlement.

I had no trouble with later boat registration over here which does state Title .. SSR didn't care ... etc. etc.

But as others have said - a new BoS or just a joint signed Letter of Transfer surely is enough ?? Of course depends on both parties being able to talk to each in reasonable manner !!

 

[billskip]

Presumably your current BoS shows her owning 50%. If so you need a BoS from her to you for her 50% plus confirmation that she has no further claim on the boat. When you sel you will be able to show title to based on the first Bos which covers the first 50% and the new one for the remainder. You can then pass title with a 100% BoS to the purchaser. Can't see why you should have any problems with either SSR or customs. Being able to transfer title is the key concern.

It really depends on how amicable they are and their legal teams(unless they are doing diy)
In the assets split it can be shown example she has car value I get boat value...if he buys her share for cash the asset is still considered joint until absolute
Tiz why I don't understand his lawyer saying do it before (ok if they doing it in a manner that satisfy the court) it can be change of mind challenged up to absolute.
His lawyers are best to advise..eventual change of registration would be best to speak with the ships registration officer.

 

[Tranona]

It really depends on how amicable they are and their legal teams(unless they are doing diy)
In the assets split it can be shown example she has car value I get boat value...if he buys her share for cash the asset is still considered joint until absolute
Tiz why I don't understand his lawyer saying do it before (ok if they doing it in a manner that satisfy the court) it can be change of mind challenged up to absolute.
His lawyers are best to advise..eventual change of registration would be best to speak with the ships registration officer.

No suggestion the boat has registered title, rather the opposite. All he needs is clear evidence that the 50% has been transferred to him so that he can sell with clear title. A BoS is one way of doing it but a clear legal document as suggested by others would be equally as good.

 

[Refueler]

No suggestion the boat has registered title, rather the opposite. All he needs is clear evidence that the 50% has been transferred to him so that he can sell with clear title. A BoS is one way of doing it but a clear legal document as suggested by others would be equally as good.

Exactly. It just needs to be a signed verifiable document.

Over here - we still have Notary's and all that Apostile lark ...

 

[jwilson]

As Tranona said: download a blank MCA Bill of Sale MSF4705 and fill it ii with present owners joint (a tick box) and new owner just you. Put "One Pound and other considerations" in the amount paid. Get it signed and witnessed and you own the whole boat. Keep original safely ashore and make a laminated copy to keep on the boat.

 

[pandos]

If you each own half of the boat then as advised above at #6.
If you jointly own the boat at present, you both, as joint owners, should execute a BOS transferring the 100% to you for a pound and other considerations. Also ensure that it is part of the divorce settlement agreement.

 

[Refueler]

I do not like the solicitor advise to conclude before Divorce proceedings ... in my mind then is the possibility that Court decides to divide the assets and includes the boat.

If such is done - I would want as I had - a signed document clearly showing transfer and stating no claim on her part to the boat - to reduce risk of court dividing its value !

 

[jwilson]

On Bills of Sale ownership shares are normally shown as 64ths - sole ownership is 64/64ths, joint ownership is shared ownership of all 64 shares (usually done for couples), and 50% ownership is 32/64ths. Occasionaly you get numbers such as 1/64th, usually these days when a boat is sold so that the new 63/64ths ownership can continue to use the mooring/berth that is contracted to the 1/64th owner, and the berth would be lost if full ownership went to the buyer.

Joint owners (who between them have all 64 shares) can sign a single Bill of Sale transferring ownership: if ownership is split 32/32 you need two separate Bills of Sale to transfer ownership.

it's all a historical oddity that goes with the weird "tonnage" measurements that have nothing to do with weights/displacement but on how many tun barrels of salted herrings a tape measure calculation works out the vessel can hold, and on which port dues used to be paid. Even more weirdly this calculation ends in 1/100ths!

 

[Refueler]

On Bills of Sale ownership shares are normally shown as 64ths - sole ownership is 64/64ths, joint ownership is shared ownership of all 64 shares (usually done for couples), and 50% ownership is 32/64ths. Occasionaly you get numbers such as 1/64th, usually these days when a boat is sold so that the new 63/64ths ownership can continue to use the mooring/berth that is contracted to the 1/64th owner, and the berth would be lost if full ownership went to the buyer.

Joint owners (who between them have all 64 shares) can sign a single Bill of Sale transferring ownership: if ownership is split 32/32 you need two separate Bills of Sale to transfer ownership.

it's all a historical oddity that goes with the weird "tonnage" measurements that have nothing to do with weights/displacement but on how many tun barrels of salted herrings a tape measure calculation works out the vessel can hold, and on which port dues used to be paid. Even more weirdly this calculation ends in 1/100ths!

Pt 1 .... yes but

All else is simple and no need about 64 this that etc.

 

[jaminb]

Thanks all for your advice. I am comfortable that the court order will protect me against future claims. I just would like a clean title sounds like a bill of sale for £1 will tidy up to an extent but I will still have 2 x BoS.

 

[Tranona]

Actually the £1 bit is really unnecessary. It is not an invoice or receipt, merely a record of transfer of title. "Consideration" - the £1 bit is part of contract law which is different from title. You don't say whether you are currently joint owners or whether you independently own 32/64ths. If the former (which is more common in husband and wife ownership) then as in post#14 you can both execute a single BoS to you. If you each have your own BoS for 32/64ths then she will will have to transfer her share to you so you end up with 2 BoS, both in your name. The effect is the same - you have title to sell.

 

[Boathook]

Thanks all for your advice. I am comfortable that the court order will protect me against future claims. I just would like a clean title sounds like a bill of sale for £1 will tidy up to an extent but I will still have 2 x BoS.

I've got 2 bills of sale for my boat. My parents owned it in partnership with a friend. I purchased the friends half and got a bill of share for his share. My parents after a few years transferred their half to me in lieu of maintenance fees and I got a bill of sale for that.
I suspect that there are plenty of boats with 2 bills of sale.

 

[pandos]

Thanks all for your advice. I am comfortable that the court order will protect me against future claims. I just would like a clean title sounds like a bill of sale for £1 will tidy up to an extent but I will still have 2 x BoS.

Perhaps I have misunderstood you. Are you wary at having two bills of sale?

If there are two BOS now there should be two afterwards, if there is only one now there should only be one afterwards.

 

[Tranona]

Perhaps I have misunderstood you. Are you wary at having two bills of sale?

If there are two BOS now there should be two afterwards, if there is only one now there should only be one afterwards.

See post#17. There are essentially two forms of shared ownership. You can have joint ownership, which is common with partners. In this case both names are on one BoS. The alternative is where more than one individual owns shares in their own right and each has a BoS showing their share. If it is the first form then both parties have to "sell" the boat to one so you get a BoS for the whole boat . If the latter, the party selling provides a BoS for their share. If the recipient already owns the rest of the share they will have 2 BoS, one for the pat they already owned and the other for the rest.