New Owner - Deeded registration?

Good evening!
I am the new owner of a #4371. I was about to join the FSSA, but have a question about selecting to have the registration Deeded over. What does this really mean? Is this the fee to be entered in the official class registry? If I don't do it, does the boat cease to exist? 
Chris Rogers
Birmingham, Alabama

The FSSA keeps an ownership record of Flying Scot Sloops.  Registering the boat, and joining the FSSA helps to support the value of your great one-design boat.  You will want to pay the extra 5 dollars, and register the boat.
It also makes you eligible to race in District level and higher events.  In our fleet, we require fleet members who want to race with us to be FSSA members.
Welcome to the Flying Scot, and enjoy your new boat.  These boats really hold their value, and a strong class association is one of the reasons!