jaminb
Well-Known Member
I will pop down to the boat tomorrow and have a look at the BoS. I don't recall any thing about shares just joint owners.
Change of Boat Ownership Details
- Thread starter jaminb
- Start date
Babylon
Well-Known Member
A previous owner of my boat went from husband and wife to just husband, presumably on their divorce: there was a MCA (Pt 1 Registered) Bill of Sale from Mr and Mrs to just Mr. I'll have a look at it tomorrow.
Babylon
Well-Known Member
This is what the Bill of Sale looked like, with sensitive information blanked out etc, but you get the exact idea.
Refueler
Well-Known Member
As I understand it - the £1 nominal sum use came about many years ago when items needed to be transferred and incur minimal legal asset value. The old days of the BoS with a Postage Stamp and £1 plus signature across the stamp has long been a matter of history.
As I understand it - from my own experience in UK divorce .. there was not any requirement to state a 'sale' value as long as both parties agreed and signed a Transfer Document - stating clearly the transfer and the one party no longer had claim to the item.
Just commenting.
As I understand it - from my own experience in UK divorce .. there was not any requirement to state a 'sale' value as long as both parties agreed and signed a Transfer Document - stating clearly the transfer and the one party no longer had claim to the item.
Just commenting.
vyv_cox
Well-Known Member
A previous sale of my boat was valued at '£1 and other considerations'. The man I bought it from was a car dealer, who told me that the 'consideration' was a Mercedes car.
Tranona
Well-Known Member
"Consideration" has a very specific meaning in Contract Law legal.thomsonreuters.com/blog/the-principles-of-contract-law/#head-2 and does not necessarily involve money. It differentiates from a gift.
However this is irrelevant now for the purposes of a Bill of Sale which is just the transfer of title but as in post#24 the reasons for including it in the standard form is historic. However as already noted, other documents are equally valid as evidence of title - it is just convenient to use the MCA one which is required to register the title, even though the vast majority of leisure boats do not have registered title.
However this is irrelevant now for the purposes of a Bill of Sale which is just the transfer of title but as in post#24 the reasons for including it in the standard form is historic. However as already noted, other documents are equally valid as evidence of title - it is just convenient to use the MCA one which is required to register the title, even though the vast majority of leisure boats do not have registered title.