{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/29.1-733.19.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/29.1-733.19.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/29.1-733.19.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/29.1-733.19.html"}],"law_id":64029,"edition_id":1,"section_id":64029,"structure_id":13228,"section_number":"29.1-733.19","catch_line":"Transfer of ownership by secured party&#8217;s transfer statement","history":"2013, c. 787.","full_text":"A\n\nFor the purpose of this section, &#8220;secured party&#8217;s transfer statement&#8221; means a record signed by the secured party of record stating:1\n\nA default on an obligation secured by the watercraft has occurred;2\n\nThe secured party of record is exercising or has exercised post-default remedies with respect to the watercraft;3\n\nBy reason of the exercise, the secured party of record has the right to transfer the ownership interest of an owner, and the name of the owner;4\n\nThe name and last-known mailing address of the owner of record and the secured party of record;5\n\nThe name of the transferee;6\n\nAll other information required by subsection B of &#xA7; 29.1-733.7; and7\n\nOne of the following:\n\t\t\t\ta. The certificate of title is an electronic certificate;\n\t\t\t\tb. The secured party does not have possession of the written certificate of title created in the name of the owner of record; or\n\t\t\t\tc. The secured party is delivering the written certificate of title to the Department with the secured party&#8217;s transfer statement.B\n\nUnless the Department rejects a secured party&#8217;s transfer statement for a reason stated in subsection C of \u00a7 29.1-733.8, not later than 20 days after delivery to the Department of the statement and payment of fees and taxes payable under the law of the Commonwealth other than this article in connection with the statement or the acquisition or use of the watercraft, the Department shall:1\n\nAccept the statement;2\n\nAmend the files of the Department to reflect the transfer; and3\n\nIf the name of the owner whose ownership interest is being transferred is indicated on the certificate of title:\n\t\t\t\ta. Cancel the certificate even if the certificate has not been delivered to the Department;\n\t\t\t\tb. Create a new certificate indicating the transferee as owner; and\n\t\t\t\tc. Deliver the new certificate or a record evidencing an electronic certificate.C\n\nAn application under subsection A or the creation of a certificate of title under subsection B is not by itself a disposition of the watercraft and does not by itself relieve the secured party of its duties under Title 8.9A.","order_by":null,"text":{"0":{"id":233150,"text":"For the purpose of this section, &#8220;secured party&#8217;s transfer statement&#8221; means a record signed by the secured party of record stating:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":233151,"text":"A default on an obligation secured by the watercraft has occurred;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":233152,"text":"The secured party of record is exercising or has exercised post-default remedies with respect to the watercraft;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":233153,"text":"By reason of the exercise, the secured party of record has the right to transfer the ownership interest of an owner, and the name of the owner;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":233154,"text":"The name and last-known mailing address of the owner of record and the secured party of record;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":233155,"text":"The name of the transferee;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":233156,"text":"All other information required by subsection B of &#xA7; 29.1-733.7; and","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":233157,"text":"One of the following:\n\t\t\t\ta. The certificate of title is an electronic certificate;\n\t\t\t\tb. The secured party does not have possession of the written certificate of title created in the name of the owner of record; or\n\t\t\t\tc. The secured party is delivering the written certificate of title to the Department with the secured party&#8217;s transfer statement.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"B"},"8":{"id":233158,"text":"Unless the Department rejects a secured party&#8217;s transfer statement for a reason stated in subsection C of \u00a7 29.1-733.8, not later than 20 days after delivery to the Department of the statement and payment of fees and taxes payable under the law of the Commonwealth other than this article in connection with the statement or the acquisition or use of the watercraft, the Department shall:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A7","next_prefix":"B1"},"9":{"id":233159,"text":"Accept the statement;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"10":{"id":233160,"text":"Amend the files of the Department to reflect the transfer; and","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"11":{"id":233161,"text":"If the name of the owner whose ownership interest is being transferred is indicated on the certificate of title:\n\t\t\t\ta. Cancel the certificate even if the certificate has not been delivered to the Department;\n\t\t\t\tb. Create a new certificate indicating the transferee as owner; and\n\t\t\t\tc. Deliver the new certificate or a record evidencing an electronic certificate.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"12":{"id":233162,"text":"An application under subsection A or the creation of a certificate of title under subsection B is not by itself a disposition of the watercraft and does not by itself relieve the secured party of its duties under Title 8.9A.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3"}},"ancestry":[{"id":13228,"edition_id":1,"name":"Virginia Uniform Certificate of Title for Watercraft Act","identifier":"2.1","label":"article","depth":3,"order_by":1,"parent_id":13227,"metadata":{},"date_created":"2026-06-26 03:44:29","date_modified":"2026-06-26 03:44:29","permalink":{"id":193527,"object_type":"structure","relational_id":13228,"identifier":"2.1","token":"29.1\/7\/2.1","url":"\/29.1\/7\/2.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13227,"edition_id":1,"name":"Boating Laws","identifier":"7","label":"chapter","depth":2,"order_by":1,"parent_id":12934,"metadata":{},"date_created":"2026-06-26 03:44:29","date_modified":"2026-06-26 03:44:29","permalink":{"id":193453,"object_type":"structure","relational_id":13227,"identifier":"7","token":"29.1\/7","url":"\/29.1\/7\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12934,"edition_id":1,"name":"Wildlife, Inland Fisheries and Boating","identifier":"29.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:03","date_modified":"2026-06-26 03:44:03","permalink":{"id":192277,"object_type":"structure","relational_id":12934,"identifier":"29.1","token":"29.1","url":"\/29.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59450,"structure_id":13228,"section_number":"29.1-733.10","catch_line":"Title brand","url":"\/29.1-733.10\/","token":"29.1\/7\/2.1\/29.1-733.10","metadata":false},{"id":66488,"structure_id":13228,"section_number":"29.1-733.11","catch_line":"Maintenance of and access to files","url":"\/29.1-733.11\/","token":"29.1\/7\/2.1\/29.1-733.11","metadata":false},{"id":81845,"structure_id":13228,"section_number":"29.1-733.12","catch_line":"Action required on creation of certificate of title","url":"\/29.1-733.12\/","token":"29.1\/7\/2.1\/29.1-733.12","metadata":false},{"id":84270,"structure_id":13228,"section_number":"29.1-733.13","catch_line":"Effect of certificate of title","url":"\/29.1-733.13\/","token":"29.1\/7\/2.1\/29.1-733.13","metadata":false},{"id":85781,"structure_id":13228,"section_number":"29.1-733.14","catch_line":"Effect of possession of certificate of title; judicial process; levy; penalty","url":"\/29.1-733.14\/","token":"29.1\/7\/2.1\/29.1-733.14","metadata":false},{"id":72201,"structure_id":13228,"section_number":"29.1-733.15","catch_line":"Perfection of security interest","url":"\/29.1-733.15\/","token":"29.1\/7\/2.1\/29.1-733.15","metadata":false},{"id":82562,"structure_id":13228,"section_number":"29.1-733.16","catch_line":"Termination statement; delivery of certificate of title; penalty","url":"\/29.1-733.16\/","token":"29.1\/7\/2.1\/29.1-733.16","metadata":false},{"id":72284,"structure_id":13228,"section_number":"29.1-733.17","catch_line":"Transfer of ownership","url":"\/29.1-733.17\/","token":"29.1\/7\/2.1\/29.1-733.17","metadata":false},{"id":64392,"structure_id":13228,"section_number":"29.1-733.18","catch_line":"Effect of missing or incorrect information","url":"\/29.1-733.18\/","token":"29.1\/7\/2.1\/29.1-733.18","metadata":false},{"id":64029,"structure_id":13228,"section_number":"29.1-733.19","catch_line":"Transfer of ownership by secured party's transfer statement","url":"\/29.1-733.19\/","token":"29.1\/7\/2.1\/29.1-733.19","metadata":false},{"id":76938,"structure_id":13228,"section_number":"29.1-733.2","catch_line":"Definitions","url":"\/29.1-733.2\/","token":"29.1\/7\/2.1\/29.1-733.2","metadata":false},{"id":54234,"structure_id":13228,"section_number":"29.1-733.20","catch_line":"Transfer by operation of law","url":"\/29.1-733.20\/","token":"29.1\/7\/2.1\/29.1-733.20","metadata":false},{"id":80512,"structure_id":13228,"section_number":"29.1-733.21","catch_line":"Application for transfer of ownership or termination of security interest without certificate of title","url":"\/29.1-733.21\/","token":"29.1\/7\/2.1\/29.1-733.21","metadata":false},{"id":59034,"structure_id":13228,"section_number":"29.1-733.22","catch_line":"Replacement certificate of title","url":"\/29.1-733.22\/","token":"29.1\/7\/2.1\/29.1-733.22","metadata":false},{"id":82240,"structure_id":13228,"section_number":"29.1-733.23","catch_line":"Rights of purchaser other than secured party","url":"\/29.1-733.23\/","token":"29.1\/7\/2.1\/29.1-733.23","metadata":false},{"id":70415,"structure_id":13228,"section_number":"29.1-733.24","catch_line":"Rights of secured party","url":"\/29.1-733.24\/","token":"29.1\/7\/2.1\/29.1-733.24","metadata":false},{"id":55510,"structure_id":13228,"section_number":"29.1-733.25","catch_line":"Acquiring title to an abandoned watercraft","url":"\/29.1-733.25\/","token":"29.1\/7\/2.1\/29.1-733.25","metadata":false},{"id":58657,"structure_id":13228,"section_number":"29.1-733.26","catch_line":"Duties and operation of the Department","url":"\/29.1-733.26\/","token":"29.1\/7\/2.1\/29.1-733.26","metadata":false},{"id":74341,"structure_id":13228,"section_number":"29.1-733.27","catch_line":"Uniformity of application and construction","url":"\/29.1-733.27\/","token":"29.1\/7\/2.1\/29.1-733.27","metadata":false},{"id":80225,"structure_id":13228,"section_number":"29.1-733.28","catch_line":"Relationship to Electronic Signatures in Global and National Commerce Act","url":"\/29.1-733.28\/","token":"29.1\/7\/2.1\/29.1-733.28","metadata":false},{"id":66326,"structure_id":13228,"section_number":"29.1-733.29","catch_line":"Savings clause","url":"\/29.1-733.29\/","token":"29.1\/7\/2.1\/29.1-733.29","metadata":false},{"id":83150,"structure_id":13228,"section_number":"29.1-733.3","catch_line":"Applicability","url":"\/29.1-733.3\/","token":"29.1\/7\/2.1\/29.1-733.3","metadata":false},{"id":67036,"structure_id":13228,"section_number":"29.1-733.4","catch_line":"Supplemental principles of law and equity","url":"\/29.1-733.4\/","token":"29.1\/7\/2.1\/29.1-733.4","metadata":false},{"id":73968,"structure_id":13228,"section_number":"29.1-733.5","catch_line":"Law governing watercraft covered by certificate of title","url":"\/29.1-733.5\/","token":"29.1\/7\/2.1\/29.1-733.5","metadata":false},{"id":87192,"structure_id":13228,"section_number":"29.1-733.6","catch_line":"Certificate of title required","url":"\/29.1-733.6\/","token":"29.1\/7\/2.1\/29.1-733.6","metadata":false},{"id":68953,"structure_id":13228,"section_number":"29.1-733.7","catch_line":"Application for certificate of title","url":"\/29.1-733.7\/","token":"29.1\/7\/2.1\/29.1-733.7","metadata":false},{"id":57724,"structure_id":13228,"section_number":"29.1-733.8","catch_line":"Creation and cancellation of certificate of title","url":"\/29.1-733.8\/","token":"29.1\/7\/2.1\/29.1-733.8","metadata":false},{"id":83895,"structure_id":13228,"section_number":"29.1-733.9","catch_line":"Content of certificate of title","url":"\/29.1-733.9\/","token":"29.1\/7\/2.1\/29.1-733.9","metadata":false}],"previous_section":{"id":64392,"structure_id":13228,"section_number":"29.1-733.18","catch_line":"Effect of missing or incorrect information","url":"\/29.1-733.18\/","token":"29.1\/7\/2.1\/29.1-733.18","metadata":false},"next_section":{"id":76938,"structure_id":13228,"section_number":"29.1-733.2","catch_line":"Definitions","url":"\/29.1-733.2\/","token":"29.1\/7\/2.1\/29.1-733.2","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/29.1-733.19\/","history_text":"<p>This law was first created in 2013. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?131+ful+CHAP0787\">787<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":72284,"section_number":"29.1-733.17","catch_line":"Transfer of ownership","order_by":null,"url":"\/29.1-733.17\/"},{"id":80512,"section_number":"29.1-733.21","catch_line":"Application for transfer of ownership or termination of security interest without certificate of title","order_by":null,"url":"\/29.1-733.21\/"},{"id":68953,"section_number":"29.1-733.7","catch_line":"Application for certificate of title","order_by":null,"url":"\/29.1-733.7\/"}],"refers_to":[{"id":68953,"section_number":"29.1-733.7","catch_line":"Application for certificate of title","order_by":null,"url":"\/29.1-733.7\/"},{"id":57724,"section_number":"29.1-733.8","catch_line":"Creation and cancellation of certificate of title","order_by":null,"url":"\/29.1-733.8\/"}],"permalink":{"id":193565,"object_type":"law","relational_id":64029,"identifier":"29.1-733.19","token":"29.1\/7\/2.1\/29.1-733.19","url":"\/29.1-733.19\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/29.1-733.19\/","token":"29.1\/7\/2.1\/29.1-733.19","dublin_core":{"Title":"Transfer of ownership by secured party&#8217;s transfer statement","Type":"Text","Format":"text\/html","Identifier":"\u00a7 29.1-733.19","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> For the purpose of this section, &#8220;secured party&#8217;s transfer statement&#8221; means a record signed by the <span class=\"dictionary\">secured party of record<\/span> stating: <a id=\"paragraph-233150\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> A <span class=\"dictionary\">default<\/span> on an obligation secured by the <span class=\"dictionary\">watercraft<\/span> has occurred; <a id=\"paragraph-233151\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> The <span class=\"dictionary\">secured party of record<\/span> is exercising or has exercised post-<span class=\"dictionary\">default<\/span> remedies with respect to the <span class=\"dictionary\">watercraft<\/span>; <a id=\"paragraph-233152\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> By reason of the exercise, the <span class=\"dictionary\">secured party of record<\/span> has the right to transfer the ownership interest of an <span class=\"dictionary\">owner<\/span>, and the name of the <span class=\"dictionary\">owner<\/span>; <a id=\"paragraph-233153\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A4\" class=\"indent-1\"><p><span class=\"prefix-number\">4.<\/span> The name and last-known mailing address of the <span class=\"dictionary\">owner of record<\/span> and the <span class=\"dictionary\">secured party of record<\/span>; <a id=\"paragraph-233154\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A5\" class=\"indent-1\"><p><span class=\"prefix-number\">5.<\/span> The name of the transferee; <a id=\"paragraph-233155\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A5\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A6\" class=\"indent-1\"><p><span class=\"prefix-number\">6.<\/span> All other information required by subsection B of &#xA7; <a class=\"law\" title=\"Application for certificate of title\" href=\"\/29.1-733.7\/\">29.1-733.7<\/a>; and <a id=\"paragraph-233156\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A6\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A7\" class=\"indent-1\"><p><span class=\"prefix-number\">7.<\/span> One of the following:\n\t\t\t\ta. The <span class=\"dictionary\">certificate of title<\/span> is an <span class=\"dictionary\">electronic<\/span> certificate;\n\t\t\t\tb. The secured party does not have <span class=\"dictionary\">possession<\/span> of the <span class=\"dictionary\">written <span class=\"dictionary\">certificate of title<\/span><\/span> created in the name of the <span class=\"dictionary\">owner of record<\/span>; or\n\t\t\t\tc. The secured party is delivering the <span class=\"dictionary\">written <span class=\"dictionary\">certificate of title<\/span><\/span> to the <span class=\"dictionary\">Department<\/span> with the secured party&#8217;s transfer statement. <a id=\"paragraph-233157\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#A7\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> Unless the <span class=\"dictionary\">Department<\/span> rejects a secured party&#8217;s transfer statement for a reason stated in subsection C of \u00a7&nbsp;<a class=\"law\" title=\"Creation and cancellation of certificate of title\" href=\"\/29.1-733.8\/\">29.1-733.8<\/a>, not later than 20 days after delivery to the <span class=\"dictionary\">Department<\/span> of the statement and payment of fees and taxes payable under the <span class=\"dictionary\">law<\/span> of the Commonwealth other than this article in connection with the statement or the acquisition or use of the <span class=\"dictionary\">watercraft<\/span>, the <span class=\"dictionary\">Department<\/span> shall: <a id=\"paragraph-233158\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> Accept the statement; <a id=\"paragraph-233159\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#B1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> <span class=\"dictionary\">Amend<\/span> the files of the <span class=\"dictionary\">Department<\/span> to reflect the transfer; and <a id=\"paragraph-233160\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#B2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> If the name of the owner whose ownership interest is being transferred is indicated on the <span class=\"dictionary\">certificate of title<\/span>:\n\t\t\t\ta. Cancel the certificate even if the certificate has not been delivered to the <span class=\"dictionary\">Department<\/span>;\n\t\t\t\tb. Create a new certificate indicating the transferee as owner; and\n\t\t\t\tc. Deliver the new certificate or a record evidencing an <span class=\"dictionary\">electronic<\/span> certificate. <a id=\"paragraph-233161\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#B3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> An application under subsection A or the creation of a <span class=\"dictionary\">certificate of title<\/span> under subsection B is not by itself a <span class=\"dictionary\">disposition<\/span> of the <span class=\"dictionary\">watercraft<\/span> and does not by itself relieve the secured party of its duties under Title 8.9A. <a id=\"paragraph-233162\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.19\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nTRANSFER OF OWNERSHIP BY SECURED PARTY&#8217;S TRANSFER STATEMENT (\u00a7\n29.1-733.19)\n\nA. For the purpose of this section, &#8220;secured party&#8217;s transfer\nstatement&#8221; means a record signed by the secured party of record stating:\n\n   1. A default on an obligation secured by the watercraft has occurred;\n\n   2. The secured party of record is exercising or has exercised post-default\n   remedies with respect to the watercraft;\n\n   3. By reason of the exercise, the secured party of record has the right to\n   transfer the ownership interest of an owner, and the name of the owner;\n\n   4. The name and last-known mailing address of the owner of record and the\n   secured party of record;\n\n   5. The name of the transferee;\n\n   6. All other information required by subsection B of &#xA7; 29.1-733.7; and\n\n   7. One of the following:\n   \t\t\t\ta. The certificate of title is an electronic certificate;\n   \t\t\t\tb. The secured party does not have possession of the written certificate\n   of title created in the name of the owner of record; or\n   \t\t\t\tc. The secured party is delivering the written certificate of title to the\n   Department with the secured party&#8217;s transfer statement.\n\nB. Unless the Department rejects a secured party&#8217;s transfer statement for\na reason stated in subsection C of \u00a7 29.1-733.8, not later than 20 days after\ndelivery to the Department of the statement and payment of fees and taxes\npayable under the law of the Commonwealth other than this article in connection\nwith the statement or the acquisition or use of the watercraft, the Department\nshall:\n\n   1. Accept the statement;\n\n   2. Amend the files of the Department to reflect the transfer; and\n\n   3. If the name of the owner whose ownership interest is being transferred is\n   indicated on the certificate of title:\n   \t\t\t\ta. Cancel the certificate even if the certificate has not been delivered\n   to the Department;\n   \t\t\t\tb. Create a new certificate indicating the transferee as owner; and\n   \t\t\t\tc. Deliver the new certificate or a record evidencing an electronic\n   certificate.\n\nC. An application under subsection A or the creation of a certificate of title\nunder subsection B is not by itself a disposition of the watercraft and does not\nby itself relieve the secured party of its duties under Title 8.9A.\n\nHISTORY: 2013, c. 787.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}