Maman Bouttier January 9, 2020 Bill of Sale Examples
A Vehicle Bill of Sale is a legal document evidencing the detail of exchanged ownership of a vehicle. It establishes an `as is` assumption that the buyer accepts the purchase in its current condition. The bill details names and addresses of buyer and seller, date of sale, price, vehicle registration and other details.
It’s important to note that a bill of sale does not prove ownership. Its purpose is only to record a transaction between two parties. A title transfer, nonetheless, proves ownership by transferring the title of the item (car, house, boat etc.) to its new owner by officially notifying the governing state that the item has been sold to a new owner.
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.
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