Consumer Law, Warranties Legal Ownership for Vessel

[Pearson]

Currently I have a sailboat which was for sale on a mooring which I own. The buyer saw the boat and loved it. I wrote up the bill of sale as follows:

"I John Smith sold one Johnson sailboat as is to Gary Stone for the amount of $2000 dollars on 10/01/08. Gary Stone paid $1000 dollars in cash as a deposit with the remaining $1000 due no later than 11/30/08. If payment in not made on 11/30/08 Gary forfiets deposit. Vessel Identification #124386"

We aggreed verbally that if this were to happen I would then sell the boat to another party who was interested and keep deposit.

My question, He has not picked up the boat as of yet. He said he wants it however is not ready to move the boat. Who is the legal owner of the boat and what if any liability do I have with the boat still on my mooring.

 

[presutin]

What you forgot to put on your bill of sale is when possession took place (i.e - when a deposit was made or when the boat is paid in full). In this case, you have to send your buyer a letter saying that if he does not pick up the boat by a certain date (prior to the payment of the remaining balance) you will then have to arrange to have the boat delivered to him and he will be responsible for all the expenses incurred by the transporter.

 

[Pearson]

Thanks, Would he (buyer) be considered the owner the day the bill of sale was signed and therefore liable for vessel tied to my mooring.