Maman Bouttier December 25, 2019 Bill of Sale Examples
It is also important to realize that the seller must have full rights to sell the property listed on the bill of sale form; otherwise, there could be serious legal repercussions for the seller. Hence, it is advisable for the buyer to request that the seller produce documentation showing that he or she has full ownership rights to the item(s) being sold. If this documentation cannot be produced upon request, the buyer should be hesitant to sign a bill of sale.
A bill of sale for a motor vehicle is often regulated by the state where the sale takes place. In fact, some states provide a specific bill of sale form that must be used. Not all states require a bill of sale for a motor vehicle, but it does act as proof of ownership and makes an excellent personal record. Information in a bill of sale for a motor vehicle includes a description of the vehicle, the VIN, and the odometer. It will also include the price as well as the names of the buyer and the seller. It should also be signed and dated by both. It may need to be notarized depending on the state.
The next thing to remember is that your bill of sale template must specify the financial details of the transaction. Upon viewing the form, one should easily be able to tell how much the property was sold for and when it was sold. If there is sales tax involved, this should be noted as well; moreover, the method of payment (such as cash) should be clearly indicated in the template.