What Consequences Are There in Failing to Record a Bill of Sale?

I sold my boat almost a year ago. I signed and notarized a bill of sale on the official Coast Guard form and exchanged the bill of sale for a cashier’s check when we closed the deal. It came to my attention when I received the annual documentation renewal form from the Coast Guard that the buyer never recorded the bill of sale, and the boat is still in my name. I tried to contact him, but I have been unable to reach him. What kind of liability am I facing by allowing someone to operate a boat that is still registered in my name? How can I get the bill of sale recorded?  Our reader’s dilemma is not uncommon. In a private party deal that is handled without a broker, the buyer is often given the job of recording the title and registration paperwork. Problems arise when the buyer fails to follow through. This may occur by design if, for example, the buyer is trying to cheat his way out of paying use tax relating to the purchase. Or it may be a simple oversight.             Like so many other legal questions, the potential lingering liability faced by a...