Buying a boat from an estate

[CohoJoe]

There is no discomfort. The guy who owns the boat is dead. My buddy wants a legal title and doesn't like surprises especially when he is dropping tens of thousands of dollars. He'd rather not have a letter from the government saying he can't register the boat because he doesn't legally own it .

It is very important that the Executor of the Estate provides your buddy with a copy of the deceased's probated Will, (or other legal document such as Letters of Administration) in order to show legal title, which will allow him to sell the boat.

Assets, including boats passing through the estate, are the Executor's obligation to deal with in accordance with the terms of the Will, and note that the beneficiaries are entitled to see an accounting of all transactions. There is also the question that the boat may have been specifically bequeathed to another party under the terms of the deceased's Will. It may legally be owned by someone else. Forgive me jumping in but your buddy should be cautious on this one and a few dollars spent on legal advice are worth it.

 

[fish brain]

This is one of those times it would be beneficial to have a broker involved in this sale. They send you off to an agent / notary who clears the sale, completes the registration and collects the taxes. If your friend still wishes to deal with the executor directly, he should have an independent notary involved who can certify an affidavit for the purposes of sale.

If I had a look I could likely dig up who cleared the sale on ours, let me know....found it, we used Marine Titles Canada.

This is helpful I will pass it along