A vehicle bill of sale is a legal document transferring ownership of a car from one person (seller) to another person (buyer).
A vehicle bill of sale is a document that covers the details of the sale of a vehicle between the seller and the buyer. This document may be used as proof to inform a local Department of Motor Vehicles that a sale has occurred.
The buyer or the new owner of the vehicle must present this form in order to complete registration of the vehicle. The bill of sale must be signed only when the buyer has paid the agreed amount in full and the seller or the former owner of the vehicle has transferred the certificate of title to the buyer.
The main use of a vehicle bill of sale is to show proof of purchase and contains the information and agreement between the seller and the buyer.
A vehicle bill of sale is also a valuable document for both the buyer and seller. The buyer can present a copy of this document to the Department of Motor Vehicles when registering for a transfer of the title of ownership because many states require a bill of sale when submitting a title transfer.
For the seller, a bill of sale can be used as proof the vehicle is no longer in his or her possession. This is important if the new owner experiences some sort of legal complications regarding the vehicle. The seller is the one who makes the vehicle bill of sale before proceeding to the transaction.
Some states require a bill of sale to be notarized.
When filling out a vehicle bill of sale, make sure to provide specific facts and do not enter false or misleading information that may result in complications. If you enter false information, the buyer may use this against you should legal actions be considered.
Enter your full legal name.
Provide the year when the vehicle was manufactured.
Provide the make and model of the vehicle to be transferred.
Provide the vehicle identification number of the vehicle to be transferred.
Enter the full name of the buyer of the vehicle.
Enter the amount to be paid by the buyer. The amount provided must be agreed upon by both you and the buyer.
Date of sale
Enter the date when the transaction and the transfer of the vehicle will be made.
Provide your signature.
After filling out the document, consult or contact your local Department of Motor Vehicles if the bill of sale needs to be notarized before transferring it to the buyer.
Review the information provided on the document before transferring it to the buyer. If possible, provide a written document containing the conditions and agreements that should be met by both you and the buyer.
The complexity of a vehicle bill of sale depends on the type of transaction that the buyer and seller will engage in. A common retail receipt of purchase can be considered as a bill of sale because it details the specific product that has been sold to the buyer and the specific amount that was paid to acquire the product.
When engaging in a transaction where a huge amount of money is involved, it is important to complete the bill of sale properly and obtain it at the time of sale.
Types of a bill of sale
A bill of sale usually takes the forms of the following:
Like many transactions where a receipt is given to a buyer as proof of purchase to avoid any complications, a bill of sale has certain benefits to both the seller and the buyer.
Keywords: vehicle bill of sale bill of sale for car bill of sale template bill of sale printable bill of sale form bill of sale example bill of sale template pdf bill of sale blank template bill of sale pdf form