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08.04.10.00.htm 08.04.10.00. Title 08 DEPARTMENT OF NATURAL RESOURCES Subtitle 04 BOATING Chapter 10 Certificate of Title Authority: Natural Resources Article, §8-704(C) 8-716, and 8-722, Annotated Code of Maryland
08.04.10.01.htm 08.04.10.01. 01 Titling Documents.. A. Documents must identify vessel by at least the vessel number or hull identification number.. B. Required ownership transfer elements are purchaser's name, date of purchase, purchase price, and signature of all owners.C. Any alteration or erasure on an original ownership transfer document invalidates the document.. D. The following documents are required to title a new vessel:. 1) Original manufacturer's certificate of origin; and. 2) Original certified bil
08.04.10.02.htm 08.04.10.02. 02 Taxable Value of Vessels.. A. Vessel excise tax is levied at the rate of 5 percent of the purchase price of a vessel.. B. The minimum vessel excise tax is $5.. C. Purchase price may be reduced by the value of any vessel traded to a licensed dealer as part of the consideration for the sale.1) Trade value shall be documented using the form provided by the Department.. 2) Value shall be calculated using one of the following methods:. a) Average of BUC Book low and high retail;.
08.04.10.03.htm 08.04.10.03. 03 Mechanics Lien Title.. A. A mechanics lien is created under Commercial Law Article, §16-201 et seq. Annotated Code of Maryland, when:1) The Applicant, with the consent of the owner, has provided services or materials for a vessel;. 2) Charges are due and unpaid for 30 days; and. 3) The Applicant has possession of the vessel.. B. An application for mechanics lien title must include the following:. 1) Vessel identification;.
08.04.10.04.htm 08.04.10.04. 04 Disposal Title.. A. A lienor under Commercial Law Article, §16-201 et seq. Annotated Code of Maryland, may apply for a title for purposes of disposal. Minimum vessel excise tax of $5 will be assessed.B. Lienor must declare and affirm under penalty of perjury that lienor seeks title for purposes of removal and that the vessel will be destroyed within 90 days of issuance of disposal title.C. Lienor must provide evidence that vessel has been destroyed.. D. Lienor accepts respons
08.04.10.05.htm 08.04.10.05. 05 Abandoned Vessel Title.. A. An application for abandoned vessel title under Natural Resources Article, §8-721 et seq. Annotated Code of Maryland, shall include:1) Vessel identification;. 2) Evidence of published notice;. 3) Evidence of owner and lienholder notification; and. 4) Any other documentation required by the Department.. B. Vessel excise tax will be assessed on the fair market value of the vessel as shown in a national publication of used vessel values adopted by the D
08.04.10.9999.htm 08.04.10.9999. Administrative History Effective date: August 10, 1974 (1:1 Md. R. 23). Regulation .02 adopted effective October 29, 1975 (2:24 Md. R. 1480). Chapter renumbered effective June 23, 1976 (3:13 Md. R. 721) ―. Chapter revised effective November 28, 2011 (38:24 Md. R. 1500).
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