When to Use a Bill of Sale Many states require a bill of sale for vehicle transactions, in addition to a transfer of title. To find out what your state requires write a easy bill of sale to learn more about completing a bill of sale, please visit our Bill of Sale page.
A valid car bill of sale provides legal evidence of a transaction between two parties, serving as a receipt for items of high value. In this case, you would simply describe the item being received as payment and state that you both consider it an even trade.
This proof of sale gives legal documentation that the sale has occurred. To protect your interests when selling something, create a bill of sale that describes the item, details its condition and lists all pertinent information about the transaction.
Your state and county may also have bill of sale forms online. Requirements differ between states. What Should be Included in One? As a buyer, you should NEVER go into a sale without educating yourself about your potential purchase. Title Transfer While a bill of sale is an essential part of the sale process, it generally does not prove ownership; only a title transfer proves ownership of a vehicle.
Coin collections, furniture, antiques, art, tools and even livestock and pets are a few examples of property that can be sold. To be able to write a bill of sale, you must first understand what it is.
It can be written for anything from a car to a TV or other piece of merchandise. If the item is stolen, the VIN or serial number can be helpful as it can track the item.
It should be common practice to examine documents pertaining to the item before filling out the bill showing the sale. What Is Required Generally, the following items are found on a bill of sale.
The name of the buyer and the seller. I, the undersigned seller, do sell the above-described item to the buyer for the amount shown and certify that all of the information provided in this Bill of Sale is true and accurate to the best of my knowledge.
The transfer date is the one thing that people will refer to often. When using a bill of sale for this purpose, include the amounts and due dates of expected payments and any agreement about late fees and interest rates.
In others, you need a signed, dated, and on occasion, notarized bill in order to successfully transfer your title. Examine documents verifying the true identities of both seller and buyer.
In this case, it would be wise to get the signature of both parties. In fact, some title transfers are accompanied by a Release of Liability waiver to finalize the transfer.
Whether you are the seller or the buyer of the vehicle, you should never walk away from the transaction without a copy of the bill of sale. In order to fully complete the sale, remember to transfer your title right away. A bill of sale can also be used for swapping items considered an even trade.
Below is a sample of a bill for an automobile. Car is in running condition at the time of sale. Even if you are bartering goods and services, you can use a bill of sale as an agreement to avoid confusion. Before you even consider signing a bill of saleyou must make sure your purchase will be a good one.
In less extreme situations, if you sold your car to someone off of Craigslist without an auto bill of sale and title transfer, you may still be on the hook for future speeding tickets that should actually be sent to the new owner.
There must be a complete and accurate description of the item being sold. Your bill of sale will generally include information about the transaction, including: Include a full description of the item being sold and its condition.Any sale of property should be legally documented through a written bill of sale.
Whether you are buying or selling property, make sure that the bill of sale is legally valid to. From the buyer's point of view, a bill of sale is a good way to get the specifics of a sale in writing before a monetary exchange is made.
For the seller's perspective, a bill of sale can be helpful in maintaining records for accounting purposes. For example, Michigan doesn't require a bill of sale when buying or selling a car. [source: DMV Guide ] You may be able to get a bill of sale form from your local department of motor vehicles or from your county tax assessor-collector's office.
The Printable Basic Bill of Sale Template Form can be used to document a sale of any type of item between two parties. This is a simple, generic blank form that is typically saved as a receipt to keep documentation of the transaction.
A bill of sale is a legal document that memorializes the sale of an item, typically one of great value.
This includes personal property such as laptops, furniture, jewelry, and equipment. However, this contract is often used for the sales of a car, motorcycle, or other vehicle between two parties — a seller and a purchaser.
A firearm bill of sale is a legal document that memorializes the sale of a handgun, rifle, or shotgun between two parties — a seller and a purchaser. In exchange for a certain amount of money, the seller agrees to transfer ownership of a firearm to the purchaser.Download