86B.870 TITLE FEES.

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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 security interest when first noted upon a certificate of title, including the concurrent notation of an assignment of the security interest and its subsequent release or satisfaction, is $10;

(3)for transferring the interest of an owner and issuing a new certificate of title, is $10;

(4)for each assignment of a security interest when first noted on a certificate of title, unless noted concurrently with the security interest, is $1; and

(5)for issuing a duplicate certificate of title, is $4.

(b)In addition to other statutory fees and taxes, a filing fee of $7 is imposed on every watercraft title application. The filing fee must be shown as a separate item on title renewal notices sent by the commissioner.

Subd. 2. Concurrent applications.

If a person applies for an original or a new certificate of title for a watercraft concurrently with an application for transfer of license of the watercraft to the applicant, the fee prescribed in subdivision 1 is in lieu of the fee prescribed by sections 86B.125 , 86B.301 , and 86B.401 to 86B.421 for a transfer of ownership or license of the watercraft to the applicant.

Subd. 3. Fees paid before title issued.

Subject to subdivision 2, the commissioner may not issue a certificate of title for a watercraft until the fees prescribed by subdivision 1 and sections 86B.125 , 86B.301 , and 86B.401 to 86B.421 for a prior transfer of ownership or license of the watercraft have been paid.

Subd. 4. Deposit of fee.

Fees collected under this section must be deposited in the state treasury and credited to the water recreation account, except a deputy registrar who originates an application shall retain the filing fee under subdivision 1, paragraph (b).