Maman Bouttier January 9, 2020 Bill of Sale Examples
One thing to know is that a bill of sale template acts much like a contract, meaning that if written and executed properly, it is legally binding to all signers of the document. For that reason, it is imperative that buyers and sellers not only read the bill of sale form carefully but also ascertain that all of the information is accurate and complete.
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 bill of sale form will include the details of the transaction, and although it will typically be signed by the seller, it does not have the legal force of a title or deed. Bills of sale do not prove ownership; rather, they only show that a transfer of ownership occurred. Nonetheless, the bill of sale can prove as useful evidence that the transaction did indeed take place. It can also be helpful if there is a dispute as to the details or conditions of the transaction.
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