I am about to buy a used boat. Why should I check its status?

For your peace of mind. Whilst we cannot guarantee the item is not stolen, as not all stolen items are registered on boatfax, you will at least have tried your best. Be aware that in many regions, regardless of any transaction receipt you may possess, title of the item often remains with the original owner. If it’s proven stolen, you will have to return it. You may lose all your investment and may have to pay additional legal costs.

In some cases, unless you can show that you had a reasonable expectation that the person offering you the item was the legal owner, you could be prosecuted for receiving or being in possession of stolen goods.