Necessity for certificate of title to obtain right, title, claim, or
interest in watercraft
Sec. 4. (a) A person acquiring a watercraft from the owner of the
watercraft, whether the owner is a manufacturer, importer, dealer, or
otherwise, does not acquire any right, title, claim, or interest in or to
the watercraft until the person has obtained a certificate of title to the
watercraft. A waiver or estoppel does not operate in favor of the
person against another person having possession of the certificate of
title, or manufacturer's or importer's certificate for the watercraft, for
a valuable consideration.
(b) A court may recognize the right, title, claim, or interest of a
person in or to a watercraft sold, disposed of, mortgaged, or
encumbered only if the right, title, claim, or interest:
(1) is evidenced by a certificate of title or a manufacturer's or
importer's certificate issued under this chapter; or
(2) is evidenced by admission in the pleadings or stipulation of
the parties.
As added by P.L.71-1991, SEC.11.
Last modified: May 27, 2006