Maman Bouttier January 9, 2020 Bill of Sale Examples
In the world of legal documents, the bill of sale resides somewhere between a simple cash register receipt and a formalized title or deed. The bill of sale represents a record that a seller has sold an item of possession to a buyer. This legal document is usually drafted by the seller, and it signifies a record of the sale and intent to transfer ownership.
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.
A bill of sale, also referred to as a “purchase and sale”, is a document that establishes the details of a transaction between two (2) parties, Buyer, and Seller. The form is usually very simple stating the financial terms of the agreement followed by the signature of the seller (buyer’s signature may not be required). The monetary funds (such as cash or certified check) should exchange hands at the time of purchase (which should also be dated in the bill of sale).
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