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Gifting a boat....questions
#13942010
03/30/21 08:16 PM
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Joined: Sep 2003
Posts: 1,273
rkd
OP
Extreme Angler
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OP
Extreme Angler
Joined: Sep 2003
Posts: 1,273 |
Does anyone know the step by step process for gifting a boat? My father is gifting me his boat. He's the original owner and has signed the front of the titles (boat and motor) but not the back. I have all the paperwork. What do I need to do to complete the process? BTW-there's no trailer...he kept it in a boat slip this entire time.
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Re: Gifting a boat....questions
[Re: rkd]
#13942041
03/30/21 08:28 PM
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Joined: Apr 2006
Posts: 23,097
outfishdya
TFF Guru
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TFF Guru
Joined: Apr 2006
Posts: 23,097 |
Looked into it, but did want to pay taxes on it. Kept the boat in his name till I sold it. Just pay for the registration
Woke up this morning Got yourself a gun....
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Re: Gifting a boat....questions
[Re: rkd]
#13942107
03/30/21 09:29 PM
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Joined: Nov 2008
Posts: 7,536
361V
TFF Celebrity
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TFF Celebrity
Joined: Nov 2008
Posts: 7,536 |
My father “gifted” his older F150 to my son rather than trade it in. Somervell County(Glen Rose) DMV had us fill out a form showing it was being given to a family member and no sales tax. Simply paid a registration/title fee. Not positive it’s the same for boats but a phone call to the DMV or TPWD will get you a for sure answer so you can show up w/the correct “stuff”.
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Re: Gifting a boat....questions
[Re: rkd]
#13942130
03/30/21 09:52 PM
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Joined: Aug 2004
Posts: 2,634
Bass Buster1
Extreme Angler
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Extreme Angler
Joined: Aug 2004
Posts: 2,634 |
TPWD for the boat and motor titles, Tax office if you get a trailer.
See you on the lake and have a great day!
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Re: Gifting a boat....questions
[Re: rkd]
#13942147
03/30/21 10:15 PM
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Joined: Nov 2011
Posts: 6,219
beartrap
TFF Celebrity
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TFF Celebrity
Joined: Nov 2011
Posts: 6,219 |
do a bill of sale for $10.00
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Re: Gifting a boat....questions
[Re: outfishdya]
#13942437
03/31/21 03:34 AM
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Joined: Mar 2005
Posts: 6,665
SC-001
TFF Celebrity
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TFF Celebrity
Joined: Mar 2005
Posts: 6,665 |
Looked into it, but did want to pay taxes on it. Kept the boat in his name till I sold it. Just pay for the registration This is what we've done with my dads old boat
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Re: Gifting a boat....questions
[Re: rkd]
#13942526
03/31/21 11:57 AM
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Joined: Oct 2006
Posts: 13,196
Ken A.
Groovy
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Groovy
Joined: Oct 2006
Posts: 13,196 |
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Re: Gifting a boat....questions
[Re: rkd]
#13942553
03/31/21 12:30 PM
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Joined: Jan 2012
Posts: 912
harvey walker
Pro Angler
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Pro Angler
Joined: Jan 2012
Posts: 912 |
Please let us know what you find out.
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Re: Gifting a boat....questions
[Re: rkd]
#13942604
03/31/21 01:24 PM
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Joined: Sep 2003
Posts: 1,273
rkd
OP
Extreme Angler
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OP
Extreme Angler
Joined: Sep 2003
Posts: 1,273 |
Thanks everyone. I will take the completed forms to the TPW office and let you know end result. I thought about just keeping it in his name until it's time to sell but he would prefer I switch everything over into my name.
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Re: Gifting a boat....questions
[Re: rkd]
#13942619
03/31/21 01:38 PM
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Joined: May 2010
Posts: 4,474
2014NITROZ-7
TFF Team Angler
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TFF Team Angler
Joined: May 2010
Posts: 4,474 |
By keeping it in his name puts him in position of liability in case of an accident.
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Re: Gifting a boat....questions
[Re: rkd]
#13942721
03/31/21 02:45 PM
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Joined: Jun 2008
Posts: 549
Fishin' Rocket
Pro Angler
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Pro Angler
Joined: Jun 2008
Posts: 549 |
Curious to hear the end result as I am in the same position. I have a boat that was my fathers as well that we would like to get transferred into my name but don't want to have to pay sales tax.
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Re: Gifting a boat....questions
[Re: Ken A.]
#13942960
03/31/21 06:16 PM
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Joined: Apr 2006
Posts: 23,097
outfishdya
TFF Guru
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TFF Guru
Joined: Apr 2006
Posts: 23,097 |
What do they call the fee when you bring a boat in from out of state?
Woke up this morning Got yourself a gun....
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Re: Gifting a boat....questions
[Re: beartrap]
#13943329
03/31/21 11:50 PM
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Joined: May 2008
Posts: 9,561
Rayzor
TFF Celebrity
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TFF Celebrity
Joined: May 2008
Posts: 9,561 |
do a bill of sale for $10.00 I think they have been taxing on the boat's value not sales price for years now. Texas couldn't make any tax money off of all of the $10 sales.
Be safe, Rayzor ![[Linked Image]](http://i418.photobucket.com/albums/pp267/JLedbetter/th_Boatpics036.jpg) 2001 Triton Tx-21/225 Mercury EFI
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Re: Gifting a boat....questions
[Re: beartrap]
#13943576
04/01/21 03:33 AM
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Joined: Jun 2020
Posts: 6,594
grandbassslayer
TFF Celebrity
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TFF Celebrity
Joined: Jun 2020
Posts: 6,594 |
do a bill of sale for $10.00 It's not quite that simple, an arms length transaction comes to mind. I assume someone is on the hook for taxes for the actual value.
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Re: Gifting a boat....questions
[Re: grandbassslayer]
#13943713
04/01/21 12:36 PM
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Joined: Sep 2008
Posts: 1,686
Tx Tree Grower
Extreme Angler
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Extreme Angler
Joined: Sep 2008
Posts: 1,686 |
do a bill of sale for $10.00 It's not quite that simple, an arms length transaction comes to mind. I assume someone is on the hook for taxes for the actual value. Last time I did one they go off of the bill of sale value. With vehicles they do go off of the assumed presumptive value or the sales price. Whichever is higher. Not that way with boats.....Yet. Not saying a $10 sale wouldn't raise a red flag. I think outfishdya has it right. Just check the gift box and pay the fees.
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