Private Party Boat Purchase Question

Hello!

Buying a boat through a private party. First time I’ve done this, everything I’ve bought has been through a dealer with one exception. Everything checks out except that the boat trailer does not have a title. Seller has a permanent registration card. He’s legit and seems like a good guy. Doing some research, the trailer itself would only have a title if he had a loan on it. He paid cash for everything from a dealer. I will have a loan on the boat, motor, and trailer.

Has anybody ran into the same situation? What was the end result? Just don’t want to have any issues when I go to the DMV.

Thanks!

Assuming this is in MN? Even though it says lifetime it has to be transferred into your name or there will be no record that it belongs to you.

I read this wrong. I thought you were buying a party boat.

some trailers were that way a few years ago

Go to the DMV first and find out what they say. Madoff was a great guy also.

How big of a trailer?

What year?

A lot of smaller trailers don’t have a title, and the older the trailer is the less likely it has one as well.

I just bought (another) 16′ Lund last weekend. The trailer was a 2002 and the guy didn’t have a title (original owner but he wasn’t sure he ever got/had one).

Everything went seamless at the DMV with just a bill of sale and the lifetime tag number, but he and I were both prepared for him to apply for a duplicate title if deemed necessary.

Bigger trailers will likely be titled, if it’s a tandem from the 80’s or newer it’s pretty much a guarantee that it’s titled.

If it’s feasible, get the lifetime number before you plan to meet up and call the DMV. They’ll tell you ahead of time if you need the title.

One thing that’s super important in Minnesota, is that you itemize your bill of sale.

A boat with hull ID ______ and outboard serial number _____ was purchased for $______

A trailer with lifetime tag registration _____ was purchased for $____.

Reason being you only pay sales tax on the trailer with used boat private party sales.

If it’s a lump dollar amount for the entire rig, you might have to waste time getting another bill of sale for just the trailer depending on who’s behind the counter.

18 foot boat. 2020. Yes within MN.

From the MN DVS website

“Utility, boat, or snowmobile trailers with a gross vehicle weight of less than 4,500 pounds, unless there is a lien. The Minnesota registration card is acceptable proof of ownership in these cases”

He has the registration card. No prior loan on boat, motor, and trailer. Hence not having a title for the trailer. Boat obviously has a title.

I should add single axle trailer.

Oh you sound golden to me. That registration card for the trailer often gets lost and people think because it says “lifetime” on the sticker they’re set. But if you have the reg card and the bill of sale you’re good.

I sure hope so!

A MN Trailer needs the registration card that can be transferred at the DMV, no title on boat trailers only the boat. But the DMV will ask how much you paid for the trailer to get road tax out of you.

bigcrappie wrote:

…no title on boat trailers only the boat.

That’s not true. I have a title for my boat trailer–not sure on the specifics of what has a title and what doesn’t, but mine certainly is titled separately from the boat.

Not an expert (this statement required by law) but most trailers under 3000 pounds gross are lifetime untitled. Unless they had a lien against the trailer. Boats over 16 feet in MN are required to have a title. Some really old boats may not have a title. Best way to check a boat is look at the reg on the boat in the upper right hand corner it will say titled, or Non-titled. Remind your DMV worker that your putting a lien on the trailer, its easy to forget. No sales tax is charged in private boat transfers so pick a price for the trailer you will pay sales tax on that. I usually recommend like 10% of the package price but that’s on you. The untitled trailer can be transferred with a generic bill of sale from the registered owner. If the current owner did not register it in their own name knock off 30$ for the hassle of registering it as home-ade. A bill of sale for the DNR (untitled boats) does not have to be from the registered owner it can be from anyone. Anoka county has a good premade bill of sale on their website. I borrow it daily.

Riverrat wrote:

Remind your DMV worker that your putting a lien on the trailer, its easy to forget.

Lol, yes! I didn’t do this, and it cost me another trip to the DMV.

Lots of $100 trailers get registered at the DMV

Thanks for all the replies. Got it figured out. For clarification if anybody runs into this in the future. Boat title we will obviously transfer. I typed an itemized bill of sale that includes the boat, motor, and trailer. The trailer was never titled to begin with because original owner never placed a loan on the purchase. Trailer is under 3000lbs so permanent registration card and sticker is all they were given. The bill of sale will allow me to transfer the boat, motor, and trailer. A title for the trailer will be created by the dmv because I am placing a lien on the purchase. Good to go!