How Much Does It Cost to Transfer Boat Ownership in BC?

 

Introduction

Boat ownership transfer in British Columbia is governed by Transport Canada under the Small Vessel Regulations. While the process itself is straightforward, understanding the costs, paperwork, and steps required will help you avoid unnecessary delays or fees. Let’s dive into how much it costs and what you need to do.

Understanding Boat Ownership Transfer in BC

Transferring boat ownership  BC involves a few steps to ensure the new owner legally owns the vessel. Here’s what you need to know:

1. Registration or Licensing:

   • If the boat is used only for pleasure and has a motor of 10 horsepower (7.5 kW) or more, it must be licensed, but not necessarily registered.

   • Commercial or pleasure craft over a certain size should be registered under Transport Canada’s Vessel Registry.

2. Required Documentation:

   • Bill of Sale (Proof of Purchase).

   • Completed Transfer Form.

   • Personal identification of both buyer and seller.

3. Who Manages the Transfer?

   • Licensing: Service Canada.

   • Registration: Transport Canada’s Vessel Registry.

How Much Does It Cost to Transfer Boat Ownership in BC?

The costs of transferring boat ownership in BC depend on whether the vessel is licensed or registered. Here’s a detailed breakdown:

Type of Boat	Transfer Cost
Licensed Pleasure Craft	Free of Charge
Registered Pleasure Craft	$250 CAD
Commercial Vessel (Registered)	$250 CAD

Additional Costs to Consider:

• Survey Fees: If a survey is required to determine the value of the boat (typically for insurance purposes), the cost can range from $300 to $1,000 CAD, depending on the boat’s size and type.

• Broker Fees: If you use a broker to facilitate the sale, expect to pay a commission of around 5% to 10% of the sale price.

• Documentation Fees: For commercially registered vessels, additional documentation costs may apply.

Steps to Transfer Boat Ownership in BC

1. Complete the Bill of Sale:

   • The seller must provide a Bill of Sale that clearly outlines the boat’s details (name, serial number, registration number if applicable), purchase price, and date of sale.

2. Submit Transfer Forms:

   • If the boat is licensed, complete the Pleasure Craft License Transfer Form and submit it to Service Canada.

   • If the boat is registered, you must complete a Transfer of Ownership Form and submit it to Transport Canada.

3. Pay Applicable Fees:

   • No fee is charged for licensed boats.

   • A fee of $250 CAD applies to registered boats.

4. Receive New Documentation:

   • Once approved, the new owner will receive the updated registration or license reflecting their ownership.

How Long Does the Process Take?

• Licensed Boats: Usually processed within 2 to 4 weeks through Service Canada.

• Registered Boats: Processing time through Transport Canada can take 4 to 6 weeks, depending on the complexity of the application.

Why is It Important to Transfer Ownership?

Failing to properly transfer boat ownership can result in legal complications. The previous owner may still be held liable for damages or violations involving the boat if ownership hasn’t been properly transferred. Additionally, it ensures the new owner can legally use the boat without restrictions.

Tips for a Smooth Transfer Process

1. Double-Check Documentation: Ensure all paperwork is completed accurately.

2. Retain Copies of Documents: Keep copies of the Bill of Sale and any transfer forms for your records.

3. Verify Boat’s Status: Ensure the boat is free of liens or legal disputes before purchase.

4. Contact Authorities: If in doubt, contact Service Canada or Transport Canada for guidance.

Conclusion

Transferring boat ownership in BC is a relatively straightforward process if you understand the requirements and fees involved. While it’s free for licensed pleasure crafts, registered vessels require a fee of $250 CAD. By ensuring you have the correct paperwork and submitting it to the appropriate agency, you can avoid delays and enjoy your new vessel without hassle.

Frequently Asked Questions (FAQs)

1. Can I transfer boat ownership online in BC?

Yes, the transfer process for licensed boats can be done online through Service Canada. However, registered boats require physical documentation submission to Transport Canada.

2. How long does it take to transfer boat ownership?

For licensed boats, it typically takes 2 to 4 weeks, while registered boats take 4 to 6 weeks.

3. What if I don’t transfer boat ownership?

The previous owner could still be legally responsible for the boat. Also, the new owner may face challenges proving legal ownership.

4. Are there additional fees apart from the $250 CAD registration fee?

Yes, additional costs may include survey fees, broker fees, and documentation fees for commercial vessels.

5. Can I transfer boat ownership without a Bill of Sale?

No, a Bill of Sale is required to verify the transaction and complete the transfer process.