{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/29.1-733.21.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/29.1-733.21.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/29.1-733.21.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/29.1-733.21.html"}],"law_id":80512,"edition_id":1,"section_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","history":"2013, c. 787.","full_text":"A\n\nExcept as otherwise provided in \u00a7 29.1-733.19 or 29.1-733.20, if the Department receives, unaccompanied by a signed certificate of title, an application for a new certificate that includes an indication of a transfer of ownership or a termination statement, the Department shall create a new certificate under this section only if:1\n\nAll other requirements under &#xA7;&#xA7; 29.1-733.7 and 29.1-733.8 are met;2\n\nThe applicant provides an affidavit stating facts showing the applicant is entitled to a transfer of ownership or termination statement;3\n\nThe applicant provides the Department with satisfactory evidence that notification of the application has been sent to the owner of record and all persons indicated in the files of the Department as having an interest, including a security interest, in the watercraft, at least 45 days have passed since the notification was sent, and the Department has not received an objection from any of those persons; and4\n\nThe applicant submits any other information required by the Department as evidence of the applicant&#8217;s ownership or right to terminate the security interest, and the Department has no credible information indicating theft, fraud, or an undisclosed or unsatisfied security interest, lien, or other claim to an interest in the watercraft.B\n\nThe Department shall indicate in a certificate of title created under subsection A that the certificate was created without submission of a signed certificate or termination statement. Unless credible information indicating theft, fraud, or an undisclosed or unsatisfied security interest, lien, or other claim to an interest in the watercraft is delivered to the Department not later than one year after creation of the certificate, on request in a form and manner required by the Department, the Department shall remove the indication from the certificate.C\n\nUnless the Department determines that the value of a watercraft is less than $5,000, before the Department creates a certificate of title under subsection A, the Department shall require the applicant to post a bond or provide an equivalent source of indemnity or security. The bond, indemnity, or other security shall not exceed twice the value of the watercraft as determined by the Department. The bond, indemnity, or other security shall be in a form required by the Department and provide for indemnification of any owner, purchaser, or other claimant for any expense, loss, delay, or damage, including reasonable attorney fees and costs, but not including incidental or consequential damages, resulting from creation or amendment of the certificate.D\n\nUnless the Department receives a claim for indemnity not later than one year after creation of a certificate of title under subsection A, on request in a form and manner required by the Department, the Department shall release any bond, indemnity, or other security.","order_by":null,"text":{"0":{"id":288420,"text":"Except as otherwise provided in \u00a7 29.1-733.19 or 29.1-733.20, if the Department receives, unaccompanied by a signed certificate of title, an application for a new certificate that includes an indication of a transfer of ownership or a termination statement, the Department shall create a new certificate under this section only if:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":288421,"text":"All other requirements under &#xA7;&#xA7; 29.1-733.7 and 29.1-733.8 are met;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":288422,"text":"The applicant provides an affidavit stating facts showing the applicant is entitled to a transfer of ownership or termination statement;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":288423,"text":"The applicant provides the Department with satisfactory evidence that notification of the application has been sent to the owner of record and all persons indicated in the files of the Department as having an interest, including a security interest, in the watercraft, at least 45 days have passed since the notification was sent, and the Department has not received an objection from any of those persons; and","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":288424,"text":"The applicant submits any other information required by the Department as evidence of the applicant&#8217;s ownership or right to terminate the security interest, and the Department has no credible information indicating theft, fraud, or an undisclosed or unsatisfied security interest, lien, or other claim to an interest in the watercraft.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":288425,"text":"The Department shall indicate in a certificate of title created under subsection A that the certificate was created without submission of a signed certificate or termination statement. Unless credible information indicating theft, fraud, or an undisclosed or unsatisfied security interest, lien, or other claim to an interest in the watercraft is delivered to the Department not later than one year after creation of the certificate, on request in a form and manner required by the Department, the Department shall remove the indication from the certificate.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4","next_prefix":"C"},"6":{"id":288426,"text":"Unless the Department determines that the value of a watercraft is less than $5,000, before the Department creates a certificate of title under subsection A, the Department shall require the applicant to post a bond or provide an equivalent source of indemnity or security. The bond, indemnity, or other security shall not exceed twice the value of the watercraft as determined by the Department. The bond, indemnity, or other security shall be in a form required by the Department and provide for indemnification of any owner, purchaser, or other claimant for any expense, loss, delay, or damage, including reasonable attorney fees and costs, but not including incidental or consequential damages, resulting from creation or amendment of the certificate.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"7":{"id":288427,"text":"Unless the Department receives a claim for indemnity not later than one year after creation of a certificate of title under subsection A, on request in a form and manner required by the Department, the Department shall release any bond, indemnity, or other security.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/29.1-733.21\/","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":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":64029,"section_number":"29.1-733.19","catch_line":"Transfer of ownership by secured party's transfer statement","order_by":null,"url":"\/29.1-733.19\/"},{"id":54234,"section_number":"29.1-733.20","catch_line":"Transfer by operation of law","order_by":null,"url":"\/29.1-733.20\/"},{"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":193577,"object_type":"law","relational_id":80512,"identifier":"29.1-733.21","token":"29.1\/7\/2.1\/29.1-733.21","url":"\/29.1-733.21\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/29.1-733.21\/","token":"29.1\/7\/2.1\/29.1-733.21","dublin_core":{"Title":"Application for transfer of ownership or termination of security interest without certificate of title","Type":"Text","Format":"text\/html","Identifier":"\u00a7 29.1-733.21","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> Except as otherwise provided in \u00a7&nbsp;<a class=\"law\" title=\"Transfer of ownership by secured party&#039;s transfer statement\" href=\"\/29.1-733.19\/\">29.1-733.19<\/a> or <a class=\"law\" title=\"Transfer by operation of law\" href=\"\/29.1-733.20\/\">29.1-733.20<\/a>, if the <span class=\"dictionary\">Department<\/span> receives, unaccompanied by a signed <span class=\"dictionary\">certificate of title<\/span>, an application for a new certificate that includes an indication of a <span class=\"dictionary\">transfer of ownership<\/span> or a termination statement, the <span class=\"dictionary\">Department<\/span> shall create a new certificate under this section only if: <a id=\"paragraph-288420\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#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> All other requirements under &#xA7;&#xA7; <a class=\"law\" title=\"Application for certificate of title\" href=\"\/29.1-733.7\/\">29.1-733.7<\/a> and <a class=\"law\" title=\"Creation and cancellation of certificate of title\" href=\"\/29.1-733.8\/\">29.1-733.8<\/a> are met; <a id=\"paragraph-288421\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#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 applicant provides an <span class=\"dictionary\">affidavit<\/span> stating <span class=\"dictionary\">facts<\/span> showing the applicant is entitled to a <span class=\"dictionary\">transfer of ownership<\/span> or termination statement; <a id=\"paragraph-288422\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#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> The applicant provides the <span class=\"dictionary\">Department<\/span> with satisfactory <span class=\"dictionary\">evidence<\/span> that notification of the application has been sent to the <span class=\"dictionary\">owner of record<\/span> and all <span class=\"dictionary\">persons<\/span> indicated in the files of the <span class=\"dictionary\">Department<\/span> as having an interest, including a <span class=\"dictionary\">security interest<\/span>, in the <span class=\"dictionary\">watercraft<\/span>, at least 45 days have passed since the notification was sent, and the <span class=\"dictionary\">Department<\/span> has not received an objection from any of those <span class=\"dictionary\">persons<\/span>; and <a id=\"paragraph-288423\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#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 applicant submits any other information required by the <span class=\"dictionary\">Department<\/span> as <span class=\"dictionary\">evidence<\/span> of the applicant&#8217;s ownership or right to terminate the <span class=\"dictionary\">security interest<\/span>, and the <span class=\"dictionary\">Department<\/span> has no credible information indicating theft, <span class=\"dictionary\">fraud<\/span>, or an undisclosed or unsatisfied <span class=\"dictionary\">security interest<\/span>, <span class=\"dictionary\">lien<\/span>, or other claim to an interest in the <span class=\"dictionary\">watercraft<\/span>. <a id=\"paragraph-288424\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#A4\"><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> The <span class=\"dictionary\">Department<\/span> shall indicate in a <span class=\"dictionary\">certificate of title<\/span> created under subsection A that the certificate was created without submission of a signed certificate or termination statement. Unless credible information indicating theft, <span class=\"dictionary\">fraud<\/span>, or an undisclosed or unsatisfied <span class=\"dictionary\">security interest<\/span>, <span class=\"dictionary\">lien<\/span>, or other claim to an interest in the <span class=\"dictionary\">watercraft<\/span> is delivered to the <span class=\"dictionary\">Department<\/span> not later than one year after creation of the certificate, on request in a form and manner required by the <span class=\"dictionary\">Department<\/span>, the <span class=\"dictionary\">Department<\/span> shall remove the indication from the certificate. <a id=\"paragraph-288425\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#B\"><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> Unless the <span class=\"dictionary\">Department<\/span> determines that the <span class=\"dictionary\">value<\/span> of a <span class=\"dictionary\">watercraft<\/span> is less than $5,000, before the <span class=\"dictionary\">Department<\/span> creates a <span class=\"dictionary\">certificate of title<\/span> under subsection A, the <span class=\"dictionary\">Department<\/span> shall require the applicant to post a <span class=\"dictionary\">bond<\/span> or provide an equivalent source of indemnity or security. The <span class=\"dictionary\">bond<\/span>, indemnity, or other security shall not exceed twice the <span class=\"dictionary\">value<\/span> of the <span class=\"dictionary\">watercraft<\/span> as determined by the <span class=\"dictionary\">Department<\/span>. The <span class=\"dictionary\">bond<\/span>, indemnity, or other security shall be in a form required by the <span class=\"dictionary\">Department<\/span> and provide for indemnification of any owner, <span class=\"dictionary\">purchaser<\/span>, or other claimant for any expense, loss, delay, or damage, including reasonable attorney fees and costs, but not including incidental or consequential <span class=\"dictionary\">damages<\/span>, resulting from creation or amendment of the certificate. <a id=\"paragraph-288426\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"D\"><p><span class=\"prefix-number\">D.<\/span> Unless the <span class=\"dictionary\">Department<\/span> receives a claim for indemnity not later than one year after creation of a <span class=\"dictionary\">certificate of title<\/span> under subsection A, on request in a form and manner required by the <span class=\"dictionary\">Department<\/span>, the <span class=\"dictionary\">Department<\/span> shall release any <span class=\"dictionary\">bond<\/span>, indemnity, or other security. <a id=\"paragraph-288427\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/29.1-733.21\/#D\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nAPPLICATION FOR TRANSFER OF OWNERSHIP OR TERMINATION OF SECURITY INTEREST\nWITHOUT CERTIFICATE OF TITLE (\u00a7 29.1-733.21)\n\nA. Except as otherwise provided in \u00a7 29.1-733.19 or 29.1-733.20, if the\nDepartment receives, unaccompanied by a signed certificate of title, an\napplication for a new certificate that includes an indication of a transfer of\nownership or a termination statement, the Department shall create a new\ncertificate under this section only if:\n\n   1. All other requirements under &#xA7;&#xA7; 29.1-733.7 and 29.1-733.8 are\n   met;\n\n   2. The applicant provides an affidavit stating facts showing the applicant is\n   entitled to a transfer of ownership or termination statement;\n\n   3. The applicant provides the Department with satisfactory evidence that\n   notification of the application has been sent to the owner of record and all\n   persons indicated in the files of the Department as having an interest,\n   including a security interest, in the watercraft, at least 45 days have passed\n   since the notification was sent, and the Department has not received an\n   objection from any of those persons; and\n\n   4. The applicant submits any other information required by the Department as\n   evidence of the applicant&#8217;s ownership or right to terminate the security\n   interest, and the Department has no credible information indicating theft,\n   fraud, or an undisclosed or unsatisfied security interest, lien, or other\n   claim to an interest in the watercraft.\n\nB. The Department shall indicate in a certificate of title created under\nsubsection A that the certificate was created without submission of a signed\ncertificate or termination statement. Unless credible information indicating\ntheft, fraud, or an undisclosed or unsatisfied security interest, lien, or other\nclaim to an interest in the watercraft is delivered to the Department not later\nthan one year after creation of the certificate, on request in a form and manner\nrequired by the Department, the Department shall remove the indication from the\ncertificate.\n\nC. Unless the Department determines that the value of a watercraft is less than\n$5,000, before the Department creates a certificate of title under subsection A,\nthe Department shall require the applicant to post a bond or provide an\nequivalent source of indemnity or security. The bond, indemnity, or other\nsecurity shall not exceed twice the value of the watercraft as determined by the\nDepartment. The bond, indemnity, or other security shall be in a form required\nby the Department and provide for indemnification of any owner, purchaser, or\nother claimant for any expense, loss, delay, or damage, including reasonable\nattorney fees and costs, but not including incidental or consequential damages,\nresulting from creation or amendment of the certificate.\n\nD. Unless the Department receives a claim for indemnity not later than one year\nafter creation of a certificate of title under subsection A, on request in a\nform and manner required by the Department, the Department shall release any\nbond, indemnity, or other security.\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}}