Are you looking to transfer ownership of a boat in Ontario? There are a few steps involved, but it’s not as complex as you might think. With the right documents and information, changing boat ownership can be relatively straightforward. In this article, we’ll provide an overview of what you need to know to make the transition successfully. Here’s what you’ll need to do: Gather the necessary documentation, notify the Ministry of Transport, complete the transfer of ownership form, register the boat with the Ministry of Transport, and pay the transfer and registration fees. Let’s get started!
Gather the Necessary Documentation
You’ll need to find some paperwork in order to get the process of transferring boat possession going. Depending on the size, type, and location of your boat, there might be a few different forms that you need to obtain. For starters, you’ll need an Application for Certificate of Ownership form which you can get from your local ServiceOntario Centre. You should also review the regulations regarding registration with Transport Canada as well as provincial and federal laws that apply to boating on Ontario waterways. Additionally, if you are purchasing or selling a vessel that is over 6 meters long, it must include an affidavit from both parties confirming their agreement with regards to ownership and financial details before it can be registered with Transport Canada.
Once all the paperwork is gathered then you’re ready for the next step of transferring boat ownership in Ontario: submitting your application online or through mail along with payment for any applicable fees such as those required by Transport Canada. When registering a new vessel, proof of ownership needs to be provided either through bill of sale or transfer document signed by both parties who are involved in the transaction. If there is no transfer document available then a notarized affidavit will suffice instead!
The last step after submitting everything would be waiting for your new Certificate of Ownership to arrive in the mail so make sure that when filling out all necessary paperwork you provide accurate contact information including mailing address and phone number! This way when it’s time for renewal each year – or if something changes during this period – you won’t have any issues contacting authorities about updating ownership records accordingly.
Notify the Ministry of Transport
You’re almost done! Just a few more steps and you’ll have successfully transferred the vessel’s title. After gathering all of the necessary documentation and reviewing applicable laws, it is time to notify the Ministry of Transportation (MTO). To do this, you must fill out a Notice of Change in Ownership for Pleasure Craft form. This form will include information such as the name of both parties involved in the transfer, the registration number of the vessel being transferred, and details about any taxes paid during the ownership transfer process.
Once completed, you must submit this form along with supporting documents to an MTO office or ServiceOntario Centre. If submitting by mail, then be sure to make copies of all documents before sending them off. The MTO may also request additional paperwork depending on your situation; if so, they will contact you directly with further instructions. Once approved, they will issue an updated Certificate of Ownership and Registration card that reflects your new ownership status.
The final step is to pay any applicable fees related to changing boat ownership in Ontario. These may include sales tax for vessels purchased from private sellers and pleasure craft fee for vessels bought from dealers or brokers. Payment can be made online or at a local ServiceOntario Centre using cash or credit card. After paying these fees, your boat title transfer process is complete!
Complete the Transfer of Ownership Form
Once all the necessary documents have been gathered, it’s time to fill out the Transfer of Ownership Form – the final step in transferring title of your vessel. This form is used to notify the Ministry of Transport that a transfer has taken place and provide proof of ownership. To obtain this form, you must contact your local ServiceOntario Centre or visit their website for an online version.
When completing the form, make sure to include all information about both yourself (the buyer) and the seller. It should also include details regarding vessel registration number, year/model, engine serial number as well as any pertinent accessories such as trailers or other equipment being included in the sale. If applicable, make sure to attach supporting documents such as bills of sale from previous owners.
Finally, sign and date the form with both you and seller’s signatures before submitting it to ServiceOntario along with payment for processing fees. Once submitted, allow some time for processing; typically 1-2 weeks depending on backlogs or holidays within ServiceOntario offices. Upon completion you will be issued a new certificate of ownership which should be kept safe in case needed later on during future sales or registration renewals.
Register the Boat with the Ministry of Transport
After successfully completing the Transfer of Ownership Form, it’s time to register your vessel with the Ministry of Transport. Before doing so, make sure you meet all eligibility requirements as outlined by the Ministry’s regulations. This includes ensuring that you are a Canadian citizen or permanent resident, and reviewing any applicable provincial laws and regulations regarding boat ownership in Ontario.
Once you have ensured that you are eligible to register your boat in the province, visit a ServiceOntario center or one of the approved locations listed on their website. Bring your completed Transfer of Ownership Form and two pieces of valid identification with you when registering. You will also need to provide information about yourself and the vessel such as its make, model, year made, length overall (LOA) and hull identification number (HIN).
The final step is to pay your registration fees – there may be additional taxes or fees depending on where in Ontario you reside – after which you will receive your registration certificate from ServiceOntario confirming that your boat is registered for use within the province. Once this process is complete, it is important to keep this certificate onboard at all times while operating your vessel in Ontario waters.
Pay the Transfer and Registration Fees
With the paperwork complete, it’s time to pay up and get your new vessel officially registered! Transfer costs vary depending on the type of boat you are registering and the size. According to Ontario’s registration rules, boats that measure nine metres or longer must pay a fee for a Vessel Licence that is valid for three years. The cost of this licence is based on the length of your vessel in feet, with prices ranging from $37 up to $113 per year. Smaller vessels must pay an annual renewal fee which can range from $8-$23.
In order to register your boat in Ontario, you will also need to purchase liability insurance through a broker or agent who is licensed by the Financial Services Commission of Ontario (FSCO). This insurance protects against damages caused by negligent operation and/or ownership of your boat as well as protecting against third-party claims such as personal injury or property damage caused by yourself or other operators of the vessel. Liability coverage usually starts at around $200 annually but can be more expensive depending on the type and value of your boat.
Finally, you may have additional fees such as a fuel tax if applicable, sales tax if purchasing a used boat from an individual seller instead of a dealer, any additional licensing fees associated with special features like sails or outboard engines, and any other miscellaneous costs associated with ownership like mooring fees or marina access charges. It’s important to consider all these costs when transferring ownership so that there are no surprises later down the road.
Frequently Asked Questions
How much does it cost to transfer boat ownership?
Transferring boat ownership can be a costly process. Depending on the boat registration and where you reside in Ontario, you may have to pay transfer taxes and fees associated with transferring the title. These fees vary by province and could range anywhere from $50 – $300 or more. It’s important to research what may be required so you’re prepared for any additional costs that may come up as part of the transfer process.
Can I transfer boat ownership online?
Yes, you can transfer boat ownership online. The first step is to obtain a boat registration and title transfer from the Ministry of Transportation in Ontario. You will need to have your vessel license number, proof of insurance and proof of ownership documents such as the original signed bill of sale. Once you’ve collected all these documents, you can use the ministry’s website to submit your application electronically. After submitting your application, you must pay a fee for processing which varies depending on the size of your vessel. Once complete, you will receive a new registration and title with details including the new owner’s name.
How long does it take to transfer boat ownership?
Transferring boat ownership in Ontario is a relatively straightforward process, but it can take several weeks to complete. You’ll need to pay registering fees and get marine insurance. Make sure all paperwork is filled out correctly and submitted to the Ministry of Transportation. Once your application has been processed, you will be notified by mail of the transfer’s completion. The entire process from start to finish typically takes between two and four weeks.
Do I need to be present to transfer boat ownership?
Transferring the ownership of a boat can be done without you having to be present. You just need to transfer the documentation and registration of the boat to the new owner. This involves providing them with a signed Bill of Sale, a copy of your driver’s license, and any other documents pertaining to the sale. Once these documents are transferred and submitted to Transport Canada, you’ll no longer be registered as the owner of the boat.
Are there any special requirements for transferring boat ownership?
Transferring boat ownership in Ontario requires that you complete a few important steps. First, you must obtain a marine safety certificate and register your boat with the Transport Canada registry. You’ll need to provide proof of identification and ownership documents such as a bill of sale or gift letter. Additionally, you may need to pay fees for transferring ownership and registering the vessel with the provincial government. Lastly, it’s important to update your insurance policy when transferring boat ownership.
Conclusion
You’ve done it! You’ve successfully changed the ownership of your boat in Ontario. All that’s left to do is take your vessel out for a spin and enjoy the open waters. Make sure you keep all documents handy, just in case you need to show proof of ownership. Remember, safety is always top priority, so make sure you’re familiar with all applicable laws and regulations before setting sail. Congratulations on completing this process- now get out there and have some fun!