What does a bill of sale do?
A Bill of Sale is a document that transfers ownership of an asset (or assets) from a seller to a buyer. While the purchase and sale of used vehicles is arguably the most common use of Bills of Sale, they can be used for any items of value.
Does a bill of sale protect you?
A bill of sale is a legal document that records the transfer of ownership of an asset to a second party in exchange for money. It protects both the buyer and the seller, should disagreements arise in the future.
Where do I get a bill of sale?
You may be able to get a bill of sale form from your local department of motor vehicles or from your county tax assessor-collector’s office. You can also write out your own bill of sale.
Should a bill of sale be notarized?
Does a bill of sale need to be witnessed and notarized? Most states do not require a notary to witness the signing of a bill of sale. If the buyer and seller are in different locations and want to have the document notarized, they will each need to have it notarized separately.
What a bill of sale should say?
The bill of sale should include the full name, address and phone number of both the buyer and the seller involved in the transaction. The date of the agreement, the purchase price, and any identifying numbers for the sold item should be clearly indicated on the form as well.
What is Bill of sale and why it is used?
A bill of sale is a legal document that records the transfer of ownership of an asset to a second party in exchange for money. The document is commonly used to record the sale of aircraft, autos, motorcycles, and watercraft. It also can be used to record the sale of personal property, such as animals or furniture.
What does Bill of sale stand for?
Bill of Sale means the Bill of Sale and Assignment, substantially in the form attached as Exhibit A to the Receivables Purchase Agreement. Bill of Sale means the Bill of Sale and Assignment, substantially in the form attached as Exhibit A.
What to include in a bill of sale?
The bill of sale should include a detailed description of the item being sold. Identification or serial numbers are important to include, if they are available. If a car is being sold, the bill of sale should include the make, model, and year of the car, as well as the mileage and vehicle identification number (VIN).