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Documented vs Registered
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Author:  jsimon [ Tue Oct 05, 2010 3:07 pm ]
Post subject:  Documented vs Registered
Not to ask a dumb question, but here goes anyway :) Can some one explain the difference between the 2 as well as the pros and cons of each? The thread JAK started prompted this, I didnt want to hijack the thread.

Thanks
Author:  Cap'n Morgan [ Tue Oct 05, 2010 4:09 pm ]
Post subject:  Re: Documented vs Registered
There is more to it than this, but this will give you the basics.
ADVANTAGESThe main benefit of documentation versus numbering, is that a documented vessel may be the subject of a Preferred Ship Mortgage. In other words, this means that lending institutions regard a documented vessel as a more secure form of collateral. For larger and more expensive boats, it may be easier to obtain bank financing if the boat is documented rather than numbered. A maritime lien will have priority over other liens, should a default occur. Lenders especially like this designation and many require it as a condition of obtaining boat financing.

Another benefit is that the certificate of documentation may make customs entry and clearance easier in foreign ports. The document is treated as a form of national registration that clearly identifies the nationality of the vessel. Sort of like a passport for your boat.

DISADVANTAGES The main disadvantage of documenting rather than numbering is the higher cost. The initial documentation fee for a recreational vessel is $100.00. The numbering fee varies from State to State but averages about $25.00. In addition, documented vessels are not exempt from State or local taxes or other boating fees. Some individual States require a registration fee even if a boat is documented.
Author:  aguyindallas [ Tue Oct 05, 2010 5:21 pm ]
Post subject:  Re: Documented vs Registered
So, if I wanted to start running midget strippers from Cuba...should I document my boat, or stay with state registration?






(posted with TxJole in mind)...
Author:  verpoort [ Tue Oct 05, 2010 7:26 pm ]
Post subject:  Re: Documented vs Registered
HAHAHAHAAHAHA......CAN ALWAYS COUNT ON YOU FOR A LAUGH.
:lol:
Author:  firecadet613 [ Tue Oct 05, 2010 7:33 pm ]
Post subject:  Re: Documented vs Registered
I don't believe there are any cost savings.

Hopefully Cincy Aquaholic will chime in, I think he had to get his documented because his lender needed a Preferred Ship Mortgage.

If you've already got it registered with the state and titled I'm not sure if you can switch it to Documentation. Might only be able to do that when you first purchase it, but I'm not sure.

No tax savings as far as I know, you still have to display the state registration decal here in Indiana, but not the numbers on the bow.
Author:  cougarcruiser [ Tue Oct 05, 2010 9:07 pm ]
Post subject:  Re: Documented vs Registered
All Night Long is documented. it cost us a couple hundred bucks when we bought the 318. It's free to renew every year. We are required to keep the certificiate of documentation and a couple other things handy if stopped by the Coast Guard.

We still paid taxes on the purchase, and we still pay 600+/year in state registration fees. Because we boat on lakes patrolled by state/county/city agencies - they want proof of state registration. They give about 2 $hits about the documentation. They want the tax money.


If you boat on waters patrolled by the Coast Guard or with border crossings -- documentation is very nice to have. For inland waters where boats stay in a particular area - I wouldn't bother with it unless it's required by your bank.
Author:  wbiii [ Wed Oct 06, 2010 9:55 am ]
Post subject:  Re: Documented vs Registered
We live in Wisconsin and currently have a documented boat. This was done through the previous owner. We plan on doing a state registration because we have heard the the state of Michigan requires a state registration. Anyone from Michigan know for sure? We heard while boating on Lake Michigan, on the Michigan side anyway, that you will be cited for non-registration.

Not to mention, although we haven't been stopped on our waterways, we don't want it to become an issue when local boat patrol has no idea what a "documented" boat is.
Author:  Txjole2 [ Wed Oct 06, 2010 10:14 am ]
Post subject:  Re: Documented vs Registered
Documented tracked worldwide
Registered tracked in US waters only.
Banks like big boats to be documented so if you plan to skip on the note and run to Port of Mexico they can find you. Plus its harder to get in out of contry port in just a registered boat. Also has an effect on state sales tax that is way above my head.
Author:  Cap'n Morgan [ Wed Oct 06, 2010 10:18 am ]
Post subject:  Re: Documented vs Registered
wbiii wrote:
We live in Wisconsin and currently have a documented boat. This was done through the previous owner. We plan on doing a state registration because we have heard the the state of Michigan requires a state registration. Anyone from Michigan know for sure? We heard while boating on Lake Michigan, on the Michigan side anyway, that you will be cited for non-registration.



Michigan Law: Registration
Quote:
All boats are registered except privately owned non-motorized canoes, kayaks, or rowboats of length 16 feet or less. Boat registration certificates are renewed every 3 years. Coast Guard documented vessels are subject to registration.


http://www.marinetitle.com/boat-registr ... chigan.htm
Author:  RotaryRacer [ Wed Oct 06, 2010 11:14 am ]
Post subject:  Re: Documented vs Registered
On the Michigan Registration question...

This is what the MI SOS has to say:

Quote:
Watercraft - Registration Required

All watercraft on Michigan waters, including privately-owned lakes and waterways, must be registered except:

watercraft 16 ft. or less, propelled by oars or paddles, and not used for rental or commercial purposes,

non-motorized canoes and kayaks not used for rental or commercial purposes, rafts, surfboards, sailboards, and swim floats, regardless of length,

watercraft registered in another state and used only temporarily in Michigan.

For most watercraft the registration fee is based on length. All registrations expire on March 31 in the third year of issuance.


http://www.michigan.gov/sos/0,1607,7-12 ... --,00.html

The "registered in another state and used only temporiarily" clause would seem to indicate that your home state's rule would apply to your boat.

Although, the LEO on scene ultimately decides wether to issue a citation or not. Registration in your home state is probably a good idea.
Author:  wbiii [ Wed Oct 06, 2010 1:38 pm ]
Post subject:  Re: Documented vs Registered
Thanks guys! We will be on Lake Michigan for a month next summer, so it will be good information to know!
Author:  jsimon [ Wed Oct 06, 2010 2:05 pm ]
Post subject:  Re: Documented vs Registered
I had someone tell me that a documented boat is exempt from Michigan sales tax. Capn the website you posted says

Quote:
Sales Tax - Sales tax applies to boat transactions


But it doesn't specifically include or exclude documented vessels. Is it a fact that all boats weather documented or not are subject to Michigan state sales tax? I can find it definitively.

I cant imagine Granholm not wanting her money! :roll:
Author:  sj901196 [ Wed Oct 06, 2010 2:18 pm ]
Post subject:  Re: Documented vs Registered
Similar in UK, SSR (small ships register) no prove of ownership, no prove of money lent too, Part 1 very hard all orignal documents from day one inc Buiders Cert, orignal bill of sale all the way through to current, Measurement survey, you are issued with a Port ie London any major port and than a registration numer. World wide acknolagement of country and ownership, interesting from the old ages you own 64/64 of the ship if you outright own the vessel. So if you you have a bank loan, of 50 % you only have 32/64 if half owned. goes way back to the sailing days, if you only have 63 of the 64 shares you do not own the vessel and have to prove you have the right to use, have the vessel. You are issued with a carving note that you should get a carver to scribe the keel backbone with.

Cheers

Sean
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