Thinking about adding my wife as co-owner on boat/outboard

[blitzdr]

Major headache? Thanks for you assistance.

[tracer1]

If you have the title, take it to the DMV and have it changed to include her. In order for her to sell the boat as an individual (without your signature), the title has to be as follows. Your name "OR" her name. For example, JOHN SMITHI OR JANE SMITH. If you have your name "AND" her name, for example, JOHN SMITH AND JANE SMITH both of you have to sign to sell it. I have everything of mine listed as "OR" so that if something happened to me, either of us would not have any difficulty legally selling anything. Years ago when I had mine changed, I believe it was $25 but not sure what it is now, but it not a great deal. They will take your old title and send you a new one.

If you don't have the title, the lending agency that holds the title will have to process it. Just call them and ask the procedure to do it. I didn't have to deal with that since I had the titles for everything. If you're not sure, call the lender or the DMV and get the details as things may have changed over time.

[2dwoods]

Sounds like you better use and .or might wind up with your boat being sold while your at work.lol

[blitzdr]

If you have the title, take it to the DMV and have it changed to include her. In order for her to sell the boat as an individual (without your signature), the title has to be as follows. Your name "OR" her name. For example, JOHN SMITHI OR JANE SMITH. If you have your name "AND" her name, for example, JOHN SMITH AND JANE SMITH both of you have to sign to sell it. I have everything of mine listed as "OR" so that if something happened to me, either of us would not have any difficulty legally selling anything. Years ago when I had mine changed, I believe it was $25 but not sure what it is now, but it not a great deal. They will take your old title and send you a new one.

If you don't have the title, the lending agency that holds the title will have to process it. Just call them and ask the procedure to do it. I didn't have to deal with that since I had the titles for everything. If you're not sure, call the lender or the DMV and get the details as things may have changed over time.

Thanks for the info!

[bassdge]

Joint ownership also prevents the boat or any other item from being subject to probate if you pass away, which would avoid the probate tax on that item

[tracer1]

Yes, forgot about part also.

[nmanley]

A living trust eliminate probate issues. Some states (Alabama) will not do a title with two names. Tried it last April on my truck.

[tracer1]

Didn't know that but not surprised. What is the reasoning behind that?

[blitzdr]

Joint ownership also prevents the boat or any other item from being subject to probate if you pass away, which would avoid the probate tax on that item

That’s what triggered the whole thing. Widow of friend is enduring a “feces fest” currently.