Title Minnesota Statutes, Minnesota Statutes

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, …

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 watercra…

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…

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 t…

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…

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 …

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) mak…

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 add…

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 sec…

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 wa…

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 cha…

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 c…

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 wh…

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 securit…

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:…

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 distinct…

86B.915 LIENS ATTACHING TO WATERCRAFT. (a) A nonpossessory lien on a titled watercraft is not perfected unless a lien statement is filed with the commissioner. (b) The lien statement must include: (1) the watercraft owner's name and address; (2) the statute under which the lien i…

86B.920 STOLEN WATERCRAFT. § Subdivision 1.Duty of peace officers. A peace officer aware of a stolen or converted watercraft shall immediately furnish the commissioner with information concerning the theft or conversion. § Subd. 2.Duty of commissioner. The commissioner, upon rece…