texasfishingforum.com logo
Main Menu
Advertisement
Affiliates
Advertisement
Newest Members
KarenB, DanSan2014, SMn, txclimber, MikeRT
116934 Registered Users
Top Posters(All Time)
TexDawg 107,848
Pilothawk 81,931
John175☮ 81,353
Bigbob_FTW 80,335
Derek 🐝 67,586
JDavis7873 67,408
Mark Perry 65,579
Tritonman 59,163
Forum Statistics
Forums61
Topics1,144,852
Posts15,523,062
Members141,934
Most Online36,273
Jan 23rd, 2013
Print Thread
Page 1 of 2 1 2
Gifting a boat....questions #13942010 03/30/21 08:16 PM
Joined: Sep 2003
Posts: 1,192
rkd Offline OP
Extreme Angler
OP Offline
Extreme Angler
Joined: Sep 2003
Posts: 1,192
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.

Moritz Chevrolet - 9101 Camp Bowie W Blvd, Fort Worth, TX - Monte Coon (817) 696-2003
Re: Gifting a boat....questions [Re: rkd] #13942041 03/30/21 08:28 PM
Joined: Apr 2006
Posts: 21,938
O
outfishdya Offline
TFF Guru
Offline
TFF Guru
O
Joined: Apr 2006
Posts: 21,938
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....
Re: Gifting a boat....questions [Re: rkd] #13942107 03/30/21 09:29 PM
Joined: Nov 2008
Posts: 7,275
3
361V Offline
TFF Celebrity
Offline
TFF Celebrity
3
Joined: Nov 2008
Posts: 7,275
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”.

Re: Gifting a boat....questions [Re: rkd] #13942130 03/30/21 09:52 PM
Joined: Aug 2004
Posts: 2,443
B
Bass Buster1 Offline
Extreme Angler
Offline
Extreme Angler
B
Joined: Aug 2004
Posts: 2,443
TPWD for the boat and motor titles, Tax office if you get a trailer.


See you on the lake and have a great day!
Re: Gifting a boat....questions [Re: rkd] #13942147 03/30/21 10:15 PM
Joined: Nov 2011
Posts: 5,144
B
beartrap Online Content
TFF Celebrity
Online Content
TFF Celebrity
B
Joined: Nov 2011
Posts: 5,144
do a bill of sale for $10.00

Re: Gifting a boat....questions [Re: outfishdya] #13942437 03/31/21 03:34 AM
Joined: Mar 2005
Posts: 6,262
S
SC-001 Offline
TFF Celebrity
Offline
TFF Celebrity
S
Joined: Mar 2005
Posts: 6,262
Originally Posted by outfishdya
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

Re: Gifting a boat....questions [Re: rkd] #13942526 03/31/21 11:57 AM
Joined: Oct 2006
Posts: 12,710
Ken A. Offline
Groovy
Offline
Groovy
Joined: Oct 2006
Posts: 12,710
[Linked Image]



IF YOU DON'T LIKE ME YOU SHOULD GET TESTED. ONE OF THE SYMPTOMS OF COVID IS NO TASTE!
Re: Gifting a boat....questions [Re: rkd] #13942553 03/31/21 12:30 PM
Joined: Jan 2012
Posts: 876
H
harvey walker Offline
Pro Angler
Offline
Pro Angler
H
Joined: Jan 2012
Posts: 876
Please let us know what you find out.

Re: Gifting a boat....questions [Re: rkd] #13942604 03/31/21 01:24 PM
Joined: Sep 2003
Posts: 1,192
rkd Offline OP
Extreme Angler
OP Offline
Extreme Angler
Joined: Sep 2003
Posts: 1,192
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.

Re: Gifting a boat....questions [Re: rkd] #13942619 03/31/21 01:38 PM
Joined: May 2010
Posts: 4,131
2
2014NITROZ-7 Online Content
TFF Team Angler
Online Content
TFF Team Angler
2
Joined: May 2010
Posts: 4,131
By keeping it in his name puts him in position of liability in case of an accident.

Re: Gifting a boat....questions [Re: rkd] #13942721 03/31/21 02:45 PM
Joined: Jun 2008
Posts: 545
F
Fishin' Rocket Offline
Pro Angler
Offline
Pro Angler
F
Joined: Jun 2008
Posts: 545
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.

Re: Gifting a boat....questions [Re: Ken A.] #13942960 03/31/21 06:16 PM
Joined: Apr 2006
Posts: 21,938
O
outfishdya Offline
TFF Guru
Offline
TFF Guru
O
Joined: Apr 2006
Posts: 21,938
Originally Posted by Ken A.
[Linked Image]

What do they call the fee when you bring a boat in from out of state?


Woke up this morning
Got yourself a gun....
Re: Gifting a boat....questions [Re: beartrap] #13943329 03/31/21 11:50 PM
Joined: May 2008
Posts: 8,952
R
Rayzor Offline
TFF Celebrity
Offline
TFF Celebrity
R
Joined: May 2008
Posts: 8,952
Originally Posted by beartrap
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]
2001 Triton Tx-21/225 Mercury EFI
Re: Gifting a boat....questions [Re: beartrap] #13943576 04/01/21 03:33 AM
Joined: Jun 2020
Posts: 2,391
G
grandbassslayer Offline
Extreme Angler
Offline
Extreme Angler
G
Joined: Jun 2020
Posts: 2,391
Originally Posted by beartrap
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.

Re: Gifting a boat....questions [Re: grandbassslayer] #13943713 04/01/21 12:36 PM
Joined: Sep 2008
Posts: 1,527
T
Tx Tree Grower Offline
Extreme Angler
Offline
Extreme Angler
T
Joined: Sep 2008
Posts: 1,527
Originally Posted by grandbassslayer
Originally Posted by beartrap
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.

Page 1 of 2 1 2
Previous Thread
Index
Next Thread

© 1998-2022 OUTDOOR SITES NETWORK all rights reserved USA and Worldwide
Powered by UBB.threads™ PHP Forum Software 7.7.3