When Limited Entry was first enacted, the legislature was concerned that some permit holders, not understanding the nature or value of their permits, might transfer permits away on the spur of the moment. The Request for Permanent Transfer form may submitted while the waiting period is still running. In this situtation the commission reviews the paperwork, notifies the parties of any problems, then holds the transfer form until the 60 day waiting period is over. The transfer will take place at the end of the 60 day waiting period. The choice of using an attorney is up to the current permit holder and the proposed transferee.
Some transfers involve fairly simple terms.
They are available upon request and on our website under Standard Reports, Permits, Public Intent to Transfer List . The Commission does not maintain lists of potential buyers. Permits are frequently advertised in the various fishing industry journals and newsletters, as well as local newspapers. Permits may also be located through permit brokers who may sometimes assist with financing arrangements, escrow accounts and completion of required paperwork. You may also find some permits for sale by contacting the Department of Community and Economic Development, Division of Investments .