Boat Purchase Agreement Template: How To Fill Out
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When purchasing a boat, it’s important to have everything in writing. A boat purchase agreement is a legal document that outlines the processes involved in selling a boat, such as payment terms, deposits, and inspections.
ContractsCounsel, an online legal network connecting clients with vetted lawyers, provides a clear and legal boat purchase agreement template you can purchase from their website.
This template includes essential terms so that both parties understand and agree to it, preventing disputes in the future.
Why Buy a Boat Purchase Agreement Template?
ContractsCounsel’s boat purchase agreement template is convenient and comprehensive. It’s:
- Instantly downloadable. After purchasing the template, you’ll receive it on your device.
- Drafted by professional lawyers. Experienced, skilled lawyers who have been vetted on the platform have drafted the template.
- Easy to speak to a lawyer. If you wish, you can hire the lawyer who drafted the template to ask them questions about it, at an extra cost.
- Editable. Customize the template with specific details so that it’s suitable for your specific situation.
What’s Inside the Boat Purchase Agreement Template?
A boat purchase agreement contains key terms and information, such as the following:
Boat Description
A specific, detailed description of the boat is included so that both parties know exactly what they’re buying or selling.
This section will need to be filled in by the seller as it includes the boat’s details, such as registration number and color.
If additional items are included in the sale, such as equipment, these need to be clearly defined.
Purchase and Payment Terms
This section outlines how much the boat is being sold for and how the buyer will pay for it, such as if they’ll pay the amount at the time of sale or via installments. There’s also space for the parties to write how the payment(s) will be made, such as via money order or wire transfer.
Deposit
The buyer might pay a deposit, which shows they’re serious about the purchase. In this case, the deposit amount needs to be included as well as if it’s refundable or not, according to the agreement.
Boat Condition and Inspection
There should be no confusion over the boat’s condition at the time of sale. The boat might be sold “as is” without any warranties, or with specific warranties agreed on by both parties.
The template specifies when an inspection can take place, and what it entails. For example, it might be a physical inspection or a marine survey by a third party.
Inspection Termination
If the buyer isn’t satisfied with the boat inspection, they can terminate the agreement via written notice. The parties need to decide if the deposit is returned to the buyer or not.
Title Transfer
The seller will transfer a clear title to the buyer, while the buyer will be responsible for all transfer documents, such as registration and fees. The seller will provide all documents for this process.
Delivery or Pickup
Transporting the boat could involve the buyer picking it up at a specified location or delivery to the buyer’s location.
Default and Remedies
The buyer and seller need to perform their duties, or either party can seek legal remedies. The seller has the option to keep their deposit, while the buyer can terminate the agreement and recover their deposit.
How to Fill out the Boat Purchase Agreement Template
This template is highly customizable. Here is how to fill it out.
- Step 1: Write the date, the buyer’s full name and address, and the seller’s full name and address.
- Step 2: Enter the boat’s details, such as its make, model, and color.
- Step 3: Write any equipment or accessories included in the boat purchase. Tick the box provided if more boat details are included in Exhibit A, which is an extra document that you’ll attach to this contract.
- Step 4: Write the purchase price and tick the box which applies: the payment is made in full at the time of sale or via installments. If the latter applies, write what the initial deposit will be and by what date it will be paid. Write the remaining balance according to your payment schedule. Add a note about how payments will be made, such as via wire transfer.
- Step 5: Fill in the deposit amount or tick “No deposit is required.” Choose if the deposit will be refundable or not. Specify who will hold the deposit: the seller or escrow agent.
- Step 6: Tick the box provided if the boat is sold “as is” or with warranties. For the latter, write what these warranties are.
- Step 7: For inspections, specify the number of days the buyer has in which to inspect the boat. Tick the box provided for the type of inspection: physical inspection, sea trial, or marine survey by a third party.
- Step 8: Tick the box provided to choose if the deposit is returned to the buyer or kept by the seller if the buyer terminates the agreement after inspection.
- Step 9: Tick the box provided that states the buyer is responsible for transferring registration, documents, and paying all fees and taxes during boat registration. Tick a box that states the seller will provide all documentation for this purpose.
- Step 10: For delivery, tick the box provided to specify that the buyer will pick up the boat at a specific location on a certain date. Or, that the seller will deliver it to the buyer’s location at a specific address on a certain date. Tick another box to specify that the buyer is responsible for all transportation and relocation expenses, or that the seller is responsible for delivering the boat and covering transportation expenses.
- Step 11: If the purchase includes a trailer, fill in all its details, such as the make, model, and VIN/serial number, in the spaces provided. If the purchase includes accessories, mention these.
- Step 12: Select the remedies should the buyer fail to perform their duties, such as that the seller retains the deposit or seeks legal remedies. Choose the remedies for the buyer if the seller doesn’t meet their obligations, such as agreement termination and recovery of deposit, or other legal remedies.
- Step 13: Choose which state’s laws will govern the agreement.
- Step 14: Sign the agreement. Both the buyer and seller need to include their name, signature, and date of signing.
Do you need a boat purchase agreement template?
Buy one on ContractsCounsel. Visit the boat purchase agreement template page. Click on ‘Buy template.’ You’ll be directed to a page to complete payment by inputting your card and billing details. After your purchase, you’ll receive a downloadable template you can start using right away.
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ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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George L.
I am a corporate attorney with offices in Rock Hill, SC, and Lavonia, GA. My practice is focused on contracts, tax, and asset protection planning. I act as a fractional outside general counsel to over 20 businesses in 6 countries. When not practicing law, I can usually be found training my bird dogs.
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Josh Bernstein has been serving real estate and corporate transactional clients since 2002. His experience is varied, and he enjoys working on and puzzling out novel and complex corporate and real estate matters. Josh’s experience includes, among other things, the following: representation of public companies in connection with SEC reporting and compliance work (proxies, 10-K’s; 10-Q’s; 8-K’s, etc.); representation of public and private company securities issuances (including private placements, and other similar offerings); assistance in structuring and drafting joint ventures, both for investors and operating partners, and including both real estate and corporate ventures; handling public and private company mergers and acquisitions; and asset sales and dispositions; assisting clients, big and small, with real estate acquisitions, sales and financings; managing large-scale and multi-state real estate portfolio acquisitions, dispositions and financings; complex condominium creation, structuring and governance work, including: commercial condominiums, use of condominiums as a land planning tool, wholesale condominium property acquisitions and dispositions, and rehabilitating failed or faulty condominium legal structures to make ready for sale; development of restrictive covenants and owners’ association documents for master-planned communities; compliance with federal statutes governing real estate sale and development (including, without limitation, the Interstate Land Sales Full Disclosure Act, the Housing for Older Persons Act, and the Americans with Disabilities Act); representation of real estate lenders, for both improved and unimproved property, and including numerous construction financings secured by real estate; assistance with commercial leasing; from both the landlord and tenant side, and including condominium leasing; training residential home and condominium sales staff for compliance with applicable local and federal law; and workouts of all kinds. When he’s not busy lawyering, Josh may be found watching 80’s commercials, flying a single-engine plane, playing poker, or trying to be a good dad.
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Angela Y.
NJ and NY corporate contract lawyer and founder of a firm specializing in helping entrepreneurs. With a background in law firms, technology, and world class corporate departments, I've handled contracts and negotiations for everything from commercial leases and one-off sales agreements, to multi-million dollar asset sales. I love taking a customer-focused and business-minded approach to helping my clients achieve their goals. Other information: learning to surf, lover of travel, and one-time marathoner (NYC 2018) yulawlegal.com
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I am a regulatory transactional attorney with 16 years of in-house experience, largely in the gaming/gambling industry. I have negotiated various types and sizes of contracts from janitorial services for a small commercial building to multi-million dollar technology transactions. I also have a strong regulatory background that strengthens my ability to navigate contracts that are subject to stringent regulations.
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Derek C.
With over a decade of experience in transactional legal work, I provide clients with comprehensive, practical, and tailored solutions in real estate, business law, and estate planning. My focus is on delivering precise, client-centered services that protect your interests and help you achieve your goals. What I Offer: Real Estate Law: Expertise in drafting, reviewing, and negotiating contracts for purchases, sales, leases, easements, title documents, and closings. Whether you're dealing with commercial, multifamily, or residential properties, I’ll ensure your transaction is seamless and secure. Business Law: Skilled in forming entities, drafting contracts, and other key negotiations. From startups to established businesses, I provide legal guidance to help you operate and grow with confidence. Estate Planning: Comprehensive estate planning services, including wills, trusts, powers of attorney, and healthcare directives. I work closely with clients to create customized plans that protect their assets and ensure their wishes are honored. Transactional Expertise: A proven track record of navigating complex deals efficiently and accurately, reducing risks and delivering results. Why Work With Me? Client-Centered Approach: I prioritize your unique needs, ensuring tailored solutions and clear communication throughout. Attention to Detail: My meticulous approach ensures that every document, negotiation, and agreement is handled flawlessly. Proven Results: For over 10 years, I’ve helped clients close real estate deals, secure favorable business outcomes, and establish estate plans that offer peace of mind. Let’s work together to secure your future, protect your assets, and simplify complex legal transactions. Contact me today to discuss how I can support your real estate, business, or estate planning needs!
John B.
I am an attorney with over 13 years experience licensed in both Illinois and Indiana. I spent the early part of my career as a civil litigation attorney. Eventually, I moved into an in-house role, specifically as general counsel, to help companies avoid the pains of litigation. In doing so, I gained significant experience in executive leadership, corporate governance, risk management and cybersecurity/privacy. I bring this wealth of experience to my client engagements to not only resolve the immediate issue, but help implement lasting improvements in practices to avoid similar problems going forward.
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Location: Alabama
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