The correct answer there is check with DFO and get that in writing (I did), as you will probably need it sooner or later. I actually had a 50' that was my place of residence and I did check with DFO concerning possession limits (years ago). I doubt if a sailboat large enough to live on will ever be checked, unless it is displaying gear. Unless, things have changed (which they probably have) If you do have more than the possession limits on board (1) Need to have proof it is your place of residence (e.g. drivers license, electric bill, etc with the boat listed as the address). (2) Is how that address reads (e.g. is it a slip at a marina or the boat in care of the marina). If it reads a slip, you might find yourself in trouble anywhere other than that slip. (3) I actually complied with the first two as my mail was delivered to the "boat" in care of the marina. (4) DFO was very clear and warned, if any gear displayed or being used - it is then considered a fishing vessel, subject inspection and possession limits. IAW... If they ever see a fishing pole off that boat, they ARE subject to inspect and possession limits WILL apply! The letter I recieved from DFO was very specific about that warning basically telling me I can have a normal residence and tie a fishing boat to it and be fine; however, the normal residence cannot be used as both.
