                                 CODE OF VIRGINIA

TRANSFER OF OWNERSHIP (§ 29.1-733.17)

A. On voluntary transfer of an ownership interest in a watercraft covered by a
certificate of title, the following rules apply:

   1. If the certificate is a written certificate of title and the
   transferor&#8217;s interest is noted on the certificate, the transferor
   promptly shall sign the certificate and deliver it to the transferee. If the
   transferor does not have possession of the certificate, the person in
   possession of the certificate has a duty to facilitate the transferor&#8217;s
   compliance with this subdivision. A secured party does not have a duty to
   facilitate the transferor&#8217;s compliance with this subdivision if the
   proposed transfer is prohibited by the security agreement.

   2. If the certificate of title is an electronic certificate of title, the
   transferor promptly shall sign and deliver to the transferee a record
   evidencing the transfer of ownership to the transferee.

   3. The transferee has a right enforceable by specific performance to require
   the transferor comply with subdivision 1 or 2.

B. The creation of a certificate of title identifying the transferee as owner of
record satisfies subsection A.

C. A failure to comply with subsection A or to apply for a new certificate of
title does not render a transfer of ownership of a watercraft ineffective
between the parties. Except as otherwise provided in &#xA7; 29.1-733.18,
29.1-733.19, 29.1-733.23, or 29.1-733.24, a transfer of ownership without
compliance with subsection A is not effective against another person claiming an
interest in the watercraft.

D. A transferor that complies with subsection A is not liable as owner of the
watercraft for an event occurring after the transfer, regardless of whether the
transferee applies for a new certificate of title.

HISTORY: 2013, c. 787.