Transfers of ownership by operation of law; issuance of certificate
of title
Sec. 16. (a) If the transfer of ownership of a watercraft is by
operation of law (such as upon inheritance, devise, bequest, order in
bankruptcy, insolvency, replevin, or execution of sale), if a
watercraft is sold to satisfy a storage or repair charge, or if
repossession is had upon default in performance of the terms of a
security agreement, the bureau shall issue to the applicant a
certificate of title to the watercraft upon the following:
(1) The surrender of the prior certificate of title or the
manufacturer's or importer's certificate, or, when that is not
possible, upon presentation of satisfactory proof to the bureau
of ownership and a right of possession to the watercraft.
(2) Payment of the fee prescribed under IC 9-29-15-1.
(3) Presentation of an application for certificate of title.
(b) A certification by the person or agent of the person to whom
possession of the watercraft passed setting forth the facts entitling
the person to possession and ownership, together with a copy of the
journal entry, court order, or instrument upon which the claim of
possession and ownership is founded, is satisfactory proof of
ownership and right of possession.
(c) If an applicant cannot produce proof of ownership, the
applicant may apply to the bureau and submit evidence of ownership.
If the bureau finds the evidence sufficient, the bureau may issue a
certificate of title. If, from the records of the department, a lien
appears to be on the watercraft, the certificate of title must contain
a statement of the lien, unless the application is accompanied by
proper evidence of the extinction of the lien.
As added by P.L.71-1991, SEC.11.
Last modified: May 27, 2006