Illinois Yacht Bill of Sale — Free Template

Yes, you can sell your yacht in Illinois with a free, DMV-accepted bill of sale — created online in 60 seconds, no signup required, no email gate. Illinois does not publish a single official form number — any complete, signed bill of sale is DMV-accepted. Click below to fill out and download.

Illinois Yacht Quick Facts

Quick answers for Illinois yacht sellers

Use this Illinois yacht bill of sale for private-party transfers. The document records the transfer of ownership, sale price, signatures, and the information both parties need for title records. Boat sales involve dual jurisdiction considerations that car sales do not. Depending on the vessel size and intended use, federal USCG documentation may apply in addition to or instead of state-level titling.

Required information

In Illinois, a bill of sale is a strong seller protection record for private yacht transactions. Include accurate party details, VIN, sale terms, and signatures before the vehicle changes hands.

• Buyer legal name
• Seller legal name
• VIN (Vehicle Identification Number)
• Sale price
• Date of sale
• Hull Identification Number (HIN)
• Vessel length and type
• Engine make, model, and serial number
• USCG documentation number (if federally documented)
• Trailer VIN (if trailer included, list separately)

Yacht-specific legal considerations

State DMV titling applies to most recreational boats. However, vessels over 5 net tons used on navigable waters or in coastwise trade may need USCG documentation instead of or in addition to a state title.

• Boats over 5 net tons used in commerce or operating on navigable waters may require federal documentation through the U.S. Coast Guard (46 U.S.C. § 12101). A state title alone may not be sufficient.
• The Hull Identification Number (HIN) is the boat equivalent of a VIN. It is a 12-character identifier that must appear on the bill of sale. Verify the HIN matches the hull before completing the transaction.
• If a trailer is included in the sale, it requires its own separate bill of sale and title transfer. Do not combine the vessel and trailer on one document.
• Sales tax may apply to both the vessel and the trailer separately. Check your state's tax treatment for watercraft and trailers.
• For boats operating on federal waterways, U.S. Coast Guard documentation takes precedence over state DMV titling. Buyers should verify which jurisdiction applies to their intended use.

Illinois fees, taxes, and transfer rules

In Illinois, vehicle sales are subject to 6.25% state tax on private sales; local taxes may add 1-4%. The title transfer fee is $150. Illinois does not require notarization for most private-party vehicle transfers.

• Emissions testing required in Chicagoland and Metro-East St. Louis areas
• Private vehicle use tax applies based on purchase price
• Title transfer within 20 days of sale
• RUT-50 form required for private party purchases

Does Illinois require a bill of sale?

Illinois sellers should keep a signed bill of sale for private transfers and title records.

Keep a signed bill of sale, complete title transfer promptly, and retain seller records in case of post-sale disputes.

Official DMV guidance: Illinois DMV title transfer information

State requirements for Illinois

In Illinois, a vehicle bill of sale is required for private-party transfers. The state charges 6.25% sales tax on vehicle sales, calculated on the sale price. Title transfer must be completed within 20 days at your local DMV.

Additional Illinois requirements:

• Emissions testing required in Chicagoland and Metro-East St. Louis areas
• Private vehicle use tax applies based on purchase price
• Title transfer within 20 days of sale
• RUT-50 form required for private party purchases

Yacht transfer and title notes

Yacht ownership transfer uses a Hull Identification Number (HIN). Yachts over 5 net tons are typically documented with the U.S. Coast Guard rather than state-titled. USCG documentation transfer requires filing with the National Vessel Documentation Center.

Odometer disclosure

Yachts are exempt from federal odometer disclosure. Engine hours are commonly documented but not legally required.

Applicable federal law: 46 CFR Part 67 — USCG Documentation of Vessels

Title and registration

USCG-documented yachts use a federal Certificate of Documentation and transfer through the National Vessel Documentation Center. State-titled yachts (uncommon for vessels this size) use state title transfer procedures.

Special disclosures for yacht sales

• USCG documentation status and any outstanding maritime liens — the Abstract of Title from the Coast Guard should be reviewed before purchase.
• Marine survey results (hull, engine, rigging) are standard practice for yacht transactions and should be referenced in the bill of sale.
• Slip or mooring transfer — marina agreements do not automatically transfer with the vessel and should be addressed separately.

Common mistakes to avoid

Private-party yacht sales in Illinois go wrong when paperwork is rushed or incomplete. Avoid these costly errors:

• Incorrect or missing VIN. A VIN is exactly 17 characters with no letters I, O, or Q. Transcribing it wrong is the most common reason Illinois DMV offices reject title paperwork.
• Forgetting the odometer disclosure. Federal law requires an odometer disclosure on the title for vehicles under 20 years old. Leaving it blank — or writing "exempt" when the vehicle qualifies — can void the sale or trigger fines in Illinois.
• Missing or incomplete signatures. Both the buyer and seller must sign the bill of sale. In Illinois, an unsigned document has no legal weight. If there are co-owners, every owner listed on the title must sign.
• Not obtaining a lien release. If there is an outstanding loan on the yacht, the seller must obtain a lien release from the lender before the title can transfer. Buyers should verify the title is clear before handing over payment.
• Not notifying the Illinois DMV of the sale. Sellers who skip the DMV sale notification remain liable for parking tickets, tolls, and even accidents involving the yacht after it changes hands. File a release-of-liability form with Illinois as soon as the sale closes.
• Accepting personal checks or informal payment. Personal checks can bounce days after the sale. Use a cashier's check, money order, or verified electronic transfer for the full amount. Document the payment method on the bill of sale.

What happens after the sale

After the sale is complete, the seller should notify the Illinois DMV of the transfer to release liability for the yacht. The buyer must register the yacht and transfer the title within the deadline set by Illinois — failure to do so can result in late fees or penalties. Both parties should keep signed copies of the bill of sale and any supporting documents (odometer disclosure, lien release, etc.) for at least five years. The seller should cancel or transfer their insurance policy on the sold yacht, and the buyer must obtain valid insurance before driving or operating the yacht.