Virginia Code 29.1-733.17: Transfer of ownership.
A. On voluntary transfer of an ownership interest in a watercraft covered by a certificate of title, the following rules apply:
Terms Used In Virginia Code 29.1-733.17
- Agreement: means the same as that term is defined in subdivision (b)(3) of § Virginia Code 29.1-733.2
- Certificate of title: means a record, created by the Department under this article or by a governmental agency of another jurisdiction under the law of that jurisdiction that is designated as a certificate of title by the Department or agency and is evidence of ownership of a watercraft. See Virginia Code 29.1-733.2
- Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Virginia Code 29.1-733.2
- Owner: means a person that has legal title to a watercraft. See Virginia Code 29.1-733.2
- Person: means an individual, corporation, business trust, estate, trust, statutory trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality, or any other legal or commercial entity. See Virginia Code 29.1-733.2
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Virginia Code 29.1-733.2
- Sign: means , with present intent to authenticate or adopt a record, to:
1. See Virginia Code 29.1-733.2
- Transfer of ownership: means a voluntary or involuntary conveyance of an interest in a watercraft. See Virginia Code 29.1-733.2
- Watercraft: means any vessel that is used or capable of being used as a means of transportation on water and is propelled by machinery, whether or not the machinery is the principal source of propulsion, except:
1. See Virginia Code 29.1-733.2
- Written certificate of title: means a certificate of title consisting of information inscribed on a tangible medium. See Virginia Code 29.1-733.2
1. If the certificate is a written certificate of title and the transferor’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’s compliance with this subdivision. A secured party does not have a duty to facilitate the transferor’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 § 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.
2013, c. 787.