The Texas PWD 790 form is an Ownership Agreement for a Boat and/or Outboard Motor that establishes joint ownership between two parties. This document ensures that in the event of one owner's death, the surviving owner retains full ownership of the boat or motor. To complete the process, this form must be submitted alongside the appropriate vessel or motor application and any necessary supporting documents.
The Texas PWD 790 form, known as the Rights of Survivorship Ownership Agreement for a Boat and/or Outboard Motor, is an essential document for individuals looking to establish joint ownership of a vessel. This form is not just a piece of paper; it serves a critical function in ensuring that ownership rights are clearly defined between co-owners. By completing and submitting this form along with the necessary applications—such as the Vessel/Boat Application (PWD 143) and the Outboard Motor Application (PWD 144)—you can facilitate a smoother transaction process when it comes to boating equipment. One of the key aspects of this form is its provision for survivorship rights. In the unfortunate event that one owner passes away, the surviving owner automatically retains full ownership of the boat or motor, simplifying the transfer of assets during a difficult time. It's important to note that any future transactions involving the boat or motor, such as sales or transfers, will require the signatures of both owners until the survivorship agreement is revoked or one party dies. The form also includes a section for notary acknowledgment, ensuring that all signatures are verified and legitimate. Completing the PWD 790 accurately is crucial, as providing false information can lead to serious legal consequences. Therefore, understanding the nuances of this form is vital for anyone involved in shared ownership of a boat or outboard motor in Texas.
RIGHTS OF SURVIVORSHIP
Ownership Agreement for a Boat and/or Outboard Motor (PWD 790)
This form must be submitted with application(s) (Vessel/Boat Application-PWD 143 and/or Outboard Motor Application- PWD 144) and any required support documents and fees for the transaction(s) requested in addition to the Rights of Survivorship form.
We, the persons whose signatures appear below, hereby agree that the ownership of the following described boat and/or outboard motor shall be held jointly. In the event of the death of either person, the ownership of the boat and/or outboard motor shall belong to the survivor. This authorization creates a joint ownership which shall be effective as of the date this form is presented and processed by either Texas Parks Wildlife Department or a participating county office. Any future transaction, such as a sale or transfer of the item, must bear the signatures of both owners until the Right of Survivorship is requested to be revoked or death of either party occurs.
Boat Information:
HIN or Serial #:
TX#: TX -
-
Year Built:
Make:
Motor Information:
MIN or Serial #:
HP:
TX#: M –
(if known)
WARNING: Falsifying information on documents is a punishable offense. Texas Penal code, Chapter 37, Section 37.10. Any person who knowingly makes a false entry in, or false alteration of a governmental record is guilty of a felony of the third degree punishable by confinement in jail for any term of not more than 10 years or less than 2 years and punished by a fine not to exceed $10,000.
I HEREBY CERTIFY THAT ALL STATEMENTS IN THIS DOCUMENT ARE TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF.
Primary Owner Must Select One of the Following:
Co-Owner is the Spouse of Owner. Primary Owner is Not Married.
Primary Owner is Married, Designating Co-Owner other than Spouse - Spouse’s Letter Releasing Financial Interest in Vessel and/or Outboard Motor Must Be Attached.
Primary Owner’s
Signature:
Name:
Address:
City, St, Zip:
Subscribed and sworn before me this _____ day of _________, 20____
Signature of
Notary: ______________________________________
Name of Notary: ______________________________,
__________________________ County, State of Texas.
Notary Stamp/Seal:
Co-Owner’s
__________________________ County, State of Texas
Texas Parks and Wildlife Department maintains the information collected through this form. With few exceptions, you are entitled to be informed about the information we collect. Under Sections 552.021 and 552.023 of the Texas Government Code, you are also entitled to receive and review the information. Under Section 559.004, you are also entitled to have this information corrected.
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