Closing and handover: bill of sale, payment, documents, keys
Closing moves the boat, the money and the papers at the same time. Bring the bill of sale, proof of payment, the documents and the keys.
Updated 2 min read
Key points
- Insure the boat from the moment ownership passes.
- Pay by traceable transfer. The lender and the deposit holder are paid first.
- Collect every document and every key on the day.
Before the day
- Insurance in force from the closing date. See Marine insurance: cruising limits, agreed value, winter storage.
- Funds ready in your account, and the transfer instructions agreed. See Proof of funds and anti-money-laundering checks: what to expect.
- Payoff letter from the seller's lender, if any. See Liens, mortgages and encumbrances.
- Taxes calculated and the registration papers prepared. See Spanish taxes beyond VAT: registration tax and transfer tax (ITP).
- A final inspection to check the boat is in the condition agreed, and that the inventory is on board.
The closing steps
- Final walk-through with the inventory in hand.
- Balance paid by bank transfer. The deposit holder releases the deposit.
- Lender paid and mortgage released, if any.
- Seller signs the bill of sale: seller, buyer, boat, hull number, price, date.
- Seller hands over the originals of the documents.
- Handover of keys, remotes and codes.
Documents to receive
- Bill of sale and the chain of earlier bills of sale.
- Registration certificate and the deletion certificate if the flag changes. See Transfer of ownership, flag change and de-registration.
- VAT proof and customs documents. See Proving and verifying VAT status: which documents count, and checking before you offer.
- CE declaration and builder's plate details. See CE marking and the Recreational Craft Directive: design categories A to D.
- Manuals, service records, survey reports and warranty papers.
- Radio licence and registration details for the 406 MHz distress beacon, which need changing to your name.
- Berth contract or the transfer papers for the berth.
After you hold the keys
- Register the boat in your name. See How to register a yacht in Spain: Lista 6 vs Lista 7 (commercial vs private).
- Update the beacon registration, the MMSI and the radio licence.
- Tell the marina and take over the berth contract.
- Bring the boat home. See Getting your boat home: delivery skippers, road transport and shipping.
Related guides
General information, not legal, tax or financial advice. Rules change; check your own case with a professional or ask us.