Section 25 of 38
Chapter 24: Vessels
24.125 Reclassifications of Vessel Class
Chapter 24 Vessels
24.125 Reclassifications of Vessel Class
A new vessel class and date of purchase is established with each registered owner transfer based on the new owner’s purchase price and date which must be entered on the application. The new vessel class is based on the current value of the vessel if the new owner received it as a gift.