Ark. Code Ann. § 27-101-1023: Assignment without consent of owner

(a) A person holding a lien or encumbrance upon a motorboat, other than a lien dependent solely upon possession, may assign his or her certificate of title or interest in or to the motorboat to a person other than the owner without the consent of the owner, and without affecting the interest of the owner or the registration with certificate of number of the motorboat, but in this event, he or she shall give to the owner a written notice of the assignment.

(b) The Office of Motor Vehicle, upon receiving a certificate of title, along with all required fees, assigned by the holder of a lien or encumbrance shown thereon and giving the name and address of the assignee, shall issue a new certificate of title as upon an original application.