Whatever document you have for your boat, from the State of NH, it's not a "title." The registration document (sometimes) has a place on the back so you can transfer it to a new owner. It serves as your ownership document, but it is not a "title" that can have lienholders attached, like a car or trailer. I know it's nit-picky but there is a difference, and the biggest one is the ability of a bank or other entity to have a lien on the vehicle with the title, and typically the bank or whatever would actually physically hold the title until the loan was paid off. With the registration document, there's nothing stopping someone with an outstanding loan on a boat from selling it on Craigslist and the buyer registering the boat at any agent location, only to find out much later that the boat has a lien on it, maybe when it gets repossessed, if the previous owner stops paying their loan. This does happen occasionally, and would be solved if you had to have a free and clear title. Most new boats will have a Certificate of Origin, which is similar to a title, but is issued by the manufacturer, doesn't allow for lienholders, and doesn't have to be present to get a registration if you have a bill of sale.Originally Posted by 92SupraComp
Again it's a detail but nonetheless, it's a thorny issue that those of us who process registrations for the state, would really like the legislature to make some changes and start issuing titles for boats, now that even a generic average I/O is over $30,000 new. Loans are common and there's no easy way of knowing whether a boat has one outstanding.
One more thing: I genuinely do not mean to come across as argumentative, but I do know what I'm talking about and I'm just trying to clarify. Cheers.
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