86B.820 DEFINITIONS. Subdivision 1. Applicability. The definitions in this section apply to sections 86B.820 to 86B.920. Subd. 2. Commissioner. “Commissioner” means the commissioner of natural resources. Subd. 3. Dealer. “Dealer” means a person who: (1) is in the business of manufacturing, distributing, selling, or purchasing new or used watercraft; (2) has an established place of […]
86B.825 CERTIFICATE OF TITLE REQUIRED. Subdivision 1. Requirement. Except as provided in subdivision 2, a watercraft used on the waters of the state must have a certificate of title if the watercraft is kept in the state for more than 90 consecutive days. Subd. 2. Exempt watercraft. A watercraft is not required to have a […]
86B.830 APPLYING FOR AND ISSUING CERTIFICATE OF TITLE. Subdivision 1. Application. The owner of a titled watercraft must apply for the first certificate of title of a watercraft in this state to the commissioner or a deputy registrar on a form prescribed by the commissioner. The appropriate fee under section 86B.870 must accompany the application. […]
86B.835 DEALER ACQUISITION AND TRANSFER. Subdivision 1. Certificate of origin required. (a) A dealer may not purchase or acquire a new titled watercraft without obtaining a manufacturer’s or importer’s certificate of origin from the seller. (b) A manufacturer, importer, dealer, or other person may not sell or otherwise dispose of a new titled watercraft to […]
86B.840 TRANSFER BY OWNER. Subdivision 1. Voluntary transfer. (a) An owner who transfers a titled watercraft must execute the assignment and warranty of title to the person to whom the watercraft is transferred in the space provided on the certificate of title where the watercraft is delivered. (b) The person acquiring the watercraft must obtain […]
86B.841 TRANSFER-ON-DEATH TITLE TO WATERCRAFT. Subdivision 1. Titled as transfer-on-death. A natural person who is the owner of a watercraft may have the watercraft titled in transfer-on-death or TOD form by including in the application for the certificate of title a designation of a beneficiary or beneficiaries to whom the watercraft must be transferred on […]
86B.845 TEMPORARY WATERCRAFT USE PERMITS. Subdivision 1. Issuance to title applicant. (a) The commissioner may issue a temporary watercraft use permit to a person applying for a certificate of title for a new or used watercraft to allow that person to operate the watercraft on the waters of this state pending completion of the titling […]
86B.850 DUPLICATE CERTIFICATE. Subdivision 1. Form and issuance. (a) The commissioner may issue a duplicate certificate of title under this section. The duplicate certificate of title must be a certified copy plainly marked “duplicate” across its face and must contain the legend: “This duplicate certificate of title may be subject to the rights of a […]
86B.855 SUSPENDING OR REVOKING CERTIFICATE. Subdivision 1. Suspension or revocation. The commissioner shall suspend or revoke a certificate of title upon notice and reasonable opportunity to be heard if authorized by law or if the commissioner finds that: (1) the certificate of title was fraudulently procured or erroneously issued; or (2) the watercraft has been […]
86B.860 RESPONSIBILITIES OF COMMISSIONER. The commissioner shall prescribe and provide suitable forms of applications, certificates of title, notices of security interests, and other notices and forms necessary to implement this chapter. In addition, the commissioner may: (1) make necessary investigations to procure information required to implement this chapter; (2) assign a new hull identification number […]
86B.865 PENALTIES. Subdivision 1. Felony. A person is guilty of a felony and punishable by imprisonment for a term of not more than four years, or payment of a fine of not more than $5,000, or both, if the person with fraudulent intent: (1) uses a false or fictitious name or address, makes a material […]
86B.870 TITLE FEES. Subdivision 1. Fees. (a) The fee to be paid to the commissioner: (1) for issuing an original certificate of title, including the concurrent notation of an assignment of the security interest and its subsequent release or satisfaction, is $15; (2) for each security interest when first noted upon a certificate of title, […]
86B.875 INAPPLICABLE LIENS AND SECURITY INTERESTS. The requirements of this chapter relating to security interests and certificate of title do not apply to or affect: (1) a lien given by statute or rule of law to a supplier of services or materials for the watercraft while the watercraft is in the possession of the lienholder; […]
86B.880 SECURITY INTERESTS. Subdivision 1. Validity. Unless excepted by section 86B.875, a security interest in a titled watercraft is not valid against creditors of the owner or subsequent transferees or secured parties of the watercraft unless perfected as provided in this chapter. Subd. 2. Perfection. A security interest is perfected by the delivery to the […]
86B.885 OWNER-CREATED SECURITY INTEREST. Paragraphs (a) to (d) apply if an owner creates a security interest in a titled watercraft. (a) The owner shall immediately execute the application in the space provided on the certificate of title or on a separate form prescribed by the commissioner, show the name and address of the secured party […]
86B.890 LICENSED WATERCRAFT PREVIOUSLY PERFECTED. (a) If a security interest in a previously licensed watercraft is perfected under other applicable Minnesota law on January 1, 1991, the security interest continues perfected: (1) until its perfection lapses under the law under which it was perfected or would lapse in the absence of a further filing; or […]
86B.895 SATISFACTION OF SECURITY INTEREST. Subdivision 1. Release. Upon the satisfaction of a security interest in a watercraft for which the certificate of title is in the possession of the secured party, the secured party, within 15 days, shall execute a release of the security interest in the space provided on the certificate or as […]
86B.900 DISCLOSING SECURITY AGREEMENT. A secured party named in a certificate of title, upon written request of the owner or other secured party named on the certificate, must disclose pertinent information about the security agreement and the indebtedness secured by it. History: 1989 c 335 art 1 s 238; 1990 c 391 art 10 s […]
86B.905 EFFECT OF SUSPENSION OR REVOCATION ON SECURITY INTEREST. Suspension or revocation of a certificate of title does not, in itself, affect the validity of a security interest noted on it. History: 1989 c 335 art 1 s 239; 1990 c 391 art 10 s 3
86B.910 UNDISCLOSED SECURITY INTERESTS. If the commissioner is not satisfied that there are no undisclosed security interests created before the watercraft is initially titled, the commissioner may, in addition to its options under section 86B.830, subdivision 4, issue a distinctive certificate of title for the watercraft containing the legend: “This watercraft may be subject to […]
