If you wish to add an owner/partner to a US Coast Guard Documented Vessel that is solely owned by individuals, you may complete a notarized CG-1340 Bill of Sale listing the stated percentage transferred, and complete the webform for the Transfer/Exchange of Ownership, along with the payment of the appropriate fees.
https://unitedstatesvessel.us/transfer-exchange/
https://unitedstatesvessel.us/CG-1340_Bill_of_Sale.pdf
For example, if there are currently two individual owners of a vessel, you would list the current two owners’ names and addresses on Item #3, then add the new owner/partner under Item #4. Since the new owner/partner would own ⅓ of the vessel, the Total Interest Transferred under Item #4A would be 33%. If there are three current owners and you wish to add a fourth, the process would be the same, and the Total Interest Transferred under Item #4A would be 25%. The fraction of interest transferred would continue on for additional owners.
If the vessel is owned by an LLC/Partnership/Corporation and you are adding member(s), you will not complete a CG-1340 Bill of Sale; you would complete the webform for Transfer/Exchange of Vessel Ownership and you will upload the pertinent organization documents that list the new members. For an LLC, this would be the Operating Agreement and Amendments. For other entity structures, you would upload the relevant membership documents.
NOTE: If your vessel is subject to a mortgage of record, you must obtain permission from the mortgagee (bank, financial institution, etc) prior to the application being granted.
