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.
Inaccurate information, such as an overstated sale price or a misrepresentation of the property being sold, can cause legal difficulties; incomplete information can cause problems too, which is why a properly drafted bill of sale form should include as much information as possible about the item(s) being sold and the terms of the sale.
Anyone who purchases an item that may later require proof of purchase should use a bill of sale. It is extremely important that anyone purchasing or selling a car privately, rather than at a dealer, should use a bill of sale. It is not unheard of that some unfortunate victims of fraud have purchased stolen cars. In a situation like this, a bill of sale is vital. Additionally, those who purchase a motorcycle, boat, trailer or any other form of personal property should also use a bill of sale. Bills of sales provide substantial benefits for both buyers and sellers.
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