Laws and regulations vary from state to state on the resale of marine equipment and depend on the quantity, type and legal ownership of the equipment being sold. Transactions involving ones personal property do not require that the seller be licensed unless the individual is acting in a retail capacity.Continue Reading
Individuals could be considered as acting in a retail capacity if they purchase property specifically for resale or sell more than the allowed number of vessels per year without a license. This number varies by state.
Licensing could also be required for individuals acting as brokers, those who negotiate sales between buyers and property owners for a fee. California laws have strict guidelines regarding the brokerage of marine vessels.Learn more about Marketing & Sales