Except as otherwise provided for the creation or transfer of a security interest or the transfer on death of a certificate of ownership pursuant to NRS 488.1794, no transfer of title to or any interest in any power-driven vessel required to be numbered under this chapter is effective until one of the following conditions is fulfilled:
1. The transferor has properly endorsed and delivered the certificate of ownership and has delivered the certificate of number to the transferee as provided in this chapter, and the transferee has, within the prescribed time, delivered the documents to the Department or placed them in the United States mail addressed to the Department with the transfer fee.
2. The transferor has delivered to the Department or placed in the United States mail addressed to the Department the appropriate documents for the transfer of ownership pursuant to the sale or transfer.