Do I need a special bill of sale for a used yacht in Michigan?
Michigan requires a bill of sale for all private party vehicle sales. A used yacht may have additional disclosure requirements around condition, mileage, or title status.
Used vehicle bill of sale
Create Used Yacht Bill of Sale Michigan Online
Selling a used yacht in Michigan? Pre-owned vehicle private party sale — generate the right bill of sale for your transaction.
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Selling a used yacht in Michigan
When selling a used yacht through a private party sale in Michigan, a bill of sale protects both the buyer and seller by documenting the transaction details and the vehicle's condition at the time of sale.
Legal considerations for used vehicles in Michigan
Michigan sellers must complete and sign the certificate of title, including the odometer disclosure section, before handing it to the buyer. The seller keeps their license plate. The seller should retain a copy of the reassigned title or a bill of sale (TR-207) containing the buyer's name, address, driver license number, signature, purchase price, and date of sale for at least 18 months under MCL 257.240. Including 'sold as-is' language in the bill of sale excludes implied warranties under Michigan UCC MCL 440.2316(3)(a).
Required disclosures
Odometer disclosure on the title is required for eligible vehicles under MCL 257.233a. The seller must certify the reading as actual mileage or note any known discrepancy. The seller should also disclose any known material defects; while private sellers are not subject to the implied warranty of merchantability (which attaches to merchant sellers), active concealment of known defects can constitute fraud not excused by an as-is clause.
Michigan Required Form: TR-207
Michigan requires Form TR-207 for used vehicle transactions. No additional state inspection is required.
Michigan steps for used vehicles
- Complete all fields on the Michigan certificate of title including odometer statement and seller signature
- Remove your license plate before delivery — it stays with you, not the vehicle
- Provide the buyer with the original signed title (not a photocopy)
- Retain a copy of the front and back of the completed title or a TR-207 bill of sale for at least 18 months
- Include 'sold as-is' language in any accompanying bill of sale to disclaim implied warranties under MCL 440.2316(3)(a)
Buyer warning
The buyer is responsible for transferring the title to their name within 15 days of purchase and paying the applicable title fee and 6% use tax. A $15 late fee applies if the title is not transferred within 15 days. A Michigan private sale is presumed 'as-is' with no warranty unless the seller provides a written warranty.
Michigan Yacht transfer fees and requirements
In Michigan, the title transfer fee is $15 and registration costs Based on vehicle list price; varies widely. Yacht sales are subject to 6% use tax on purchase price. Michigan does not require notarization for private-party yacht transfers. Michigan does not require emission testing for private-party yacht sales.
- Secretary of State handles title and registration
- Title transfer must be completed within 15 days
- Plate transfer allowed between vehicles owned by same person
Michigan sales tax on yacht purchases
Michigan has a 6% state sales tax rate. Flat 6% use tax statewide. Private-party yacht sales in Michigan are subject to sales tax. Use tax applies to private party vehicle purchases. The title transfer fee is $15.
Yacht market data and safety information
The most common yacht makes in private-party sales are Sea Ray, Beneteau, Boston Whaler, Grady-White, Viking. Average private-party yacht prices range from $50,000–$500,000+. Yachts average 1 NHTSA recalls per model across categories including Fuel System, Electrical, Engine.
Safety checkpoints for buying a used yacht
Before completing a yacht bill of sale in Michigan, verify these safety items:
- Require a professional marine survey before purchase — standard practice for vessels over 26 ft
- Inspect engine hours, service records, and oil analysis reports
- Check hull condition with moisture meter and visual inspection below waterline
- Verify USCG documentation or state registration status
- Confirm life-raft service is current and EPIRB is registered/within battery date
- Verify USCG-required PFDs for max passenger count plus throwables and signals
- Test bilge alarm system and high-water sensors in each compartment
- Inspect fire-suppression system in engine room (FE-241 or equivalent)
Yacht insurance and depreciation in Michigan
Yacht insurance is 1–2% of hull value annually. Agreed-value policies are standard. Navigation limits and crew requirements affect premiums. Yachts depreciate 10–15% per year for the first 5 years. Well-maintained vessels from premium builders hold value best. Peak season for private yacht sales is fall/winter boat shows drive buyer interest for spring delivery, with an average of 90 days on market.
Yacht registration and titling
Yachts are classified as "USCG-documented vessel (over 5 net tons) or state-registered vessel" for registration purposes. Yachts are classified by length overall (LOA), not weight. Vessels over 65 ft may require a licensed captain. Federal odometer disclosure does not apply to yachts.
Yacht title transfer rules
Yacht ownership transfer uses a Hull Identification Number (HIN). Yachts over 5 net tons are typically documented with the U.S. Coast Guard rather than state-titled. USCG documentation transfer requires filing with the National Vessel Documentation Center. USCG-documented yachts use a federal Certificate of Documentation and transfer through the National Vessel Documentation Center. State-titled yachts (uncommon for vessels this size) use state title transfer procedures.
Required disclosures for yacht sales in Michigan
When selling a yacht in Michigan, the following disclosures apply:
- USCG documentation status and any outstanding maritime liens — the Abstract of Title from the Coast Guard should be reviewed before purchase.
- Marine survey results (hull, engine, rigging) are standard practice for yacht transactions and should be referenced in the bill of sale.
- Slip or mooring transfer — marina agreements do not automatically transfer with the vessel and should be addressed separately.
Michigan bill of sale statistics
BillOfSaleNow has generated 2,419 bill of sale documents for Michigan transactions, with 65 generated this month alone. The most popular vehicle type is car.
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Create Michigan Yacht Bill of SaleFrequently asked questions
What should I include when selling a used yacht?
Include buyer and seller details, vehicle identifiers (VIN, year, make, model), sale price, date, signatures, and a clear description of the vehicle condition as used.
Is a used yacht bill of sale legally binding in Michigan?
Yes. A properly completed bill of sale is a legal document in Michigan. For used vehicles, disclosing the condition protects both buyer and seller.
What are the Michigan fees for transferring a used yacht?
Michigan charges a $15 title transfer fee. Registration costs Based on vehicle list price; varies widely. Sales tax: 6% use tax on purchase price. Notarization is not required.
How much is a used yacht worth in a private sale?
Average private-party yacht prices range from $50,000–$500,000+. Used vehicles typically fall in the lower range. The most common makes are Sea Ray, Beneteau, Boston Whaler, Grady-White, Viking.
What safety items should I check on a used yacht?
Require a professional marine survey before purchase — standard practice for vessels over 26 ft Inspect engine hours, service records, and oil analysis reports