Final answer:
True, boat owners must keep the boat title in a safe place as it is a vital legal document that serves as proof of ownership and is necessary for various legal and administrative processes.
Step-by-step explanation:
The statement that boat owners must keep the boat title or ownership in a safe place is True. Just like with car ownership, a boat title is a legal document that provides proof of ownership. It is important for boat owners to protect this document carefully, as it is needed for several purposes including the sale or transfer of the boat, obtaining boat insurance, and for registration processes in respective states or countries.
Furthermore, having the boat title readily accessible is crucial in the event of theft, loss, or damage to the boat. If a situation arises where proof of ownership is disputed, the boat title serves as a key piece of evidence to establish the rightful owner. As such, it is highly recommended that boat owners keep their boat titles in a secure location, such as a safe or a lockbox, and possibly have copies in another secure location.