Iowa Code 462A.45 – Transfer by dealer
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 462A.45
- Certificate: means a certificate of title. See Iowa Code 462A.2
- Dealer: means a person who engages in whole or in part in the business of buying, selling, or exchanging vessels either outright or on conditional sale, bailment, lease, security interest, or otherwise, and who has an established place of business for sale, trade, and display of vessels. See Iowa Code 462A.2
- Operate: means to navigate or otherwise use a vessel or motorboat. See Iowa Code 462A.2
- Person: means an individual, partnership, firm, corporation, or association. See Iowa Code 462A.2
- Vessel: means every description of watercraft, other than a seaplane, used or capable of being used as a means of transportation on water or ice. See Iowa Code 462A.2
When the purchaser or transferee of a vessel is a dealer who holds the same for resale and operates the vessel only for purposes incident to a resale and displays thereon a special dealers’ certificate, or does not operate such vessel or permit it to be operated, such transferee shall not be required to obtain a new registration certificate but upon transferring the title or interest to another person the dealer shall sign the reverse side of the registration certificate of such vessel indicating the name and address of the new purchaser.