This is a simple, generic blank form that is typically saved as a receipt to keep documentation of the transaction. The point of a bill of sale is to document that the sale happened and to afford protection to both sides in the event of a future dispute. In most cases, you can also find a template approved by the state agency that regulates your type of transaction. How to write a bill of sell for a gun? Available for PC, iOS and Android. Say a trailer is left on the property if it is … A general bill of sale should include the following: If you’re selling a motor vehicle, the bill of sale should also include: In most states, if you don’t include warranty information on a bill of sale, the law assumes the property is sold in as-is condition. A bill of sale is a straightforward document that anyone can handle. However, if you include any promises, guarantees, or warranty information in the bill of sale, a future court could hold you to them. States That Require a Bill of Sale. A bill of sale can also be used as a simple loan contract to protect the seller if the buyer defaults on payments. It is also understood that the above-stated item is sold in 'as is' condition. "I, [Seller's name], in consideration of [Amount collected] dollars, do hereby sell, transfer and convey to [Buyer's name] the following item: [Item description]. A bill of sale is a document that verifies you’ve sold your car and provides basic information about the vehicle and the terms of the sale. The seller can make a legitimate bill of sale that includes information about the transaction such as: • The vehicle identification number (VIN) • A description of the vehicle, including make, model and year • A warranty that has been agreed upon by the buyer and seller, if applicable For example, if someone is selling their used car, they may wish to sell it in “as-is” condition. Start a … When to Use a Livestock Bill of Sale. Gun bill of sale private party template is a perfect example of gun bill which has been processed in accordance to the State Laws Article 1 Paragraph 1 and Section 11. These are often popular among small business owners who need a fast and easy way to manage inventory and provide their customers with a bill of sale. Important details included in the document are: Date of the Sale… The signatures, names, and addresses of the buyer and seller. A simple bill of sale is an official form that is required if goods are sold that need to be registered or reported. The form should simply state something similar to the following. A bill of sale records the purchase of an object, such as a car, boat or television. Dated this [Date].". For the buyer, the bill of sale is a record of the transaction. Basic Bill of Sale – Blank Form. With a Bill of Sale, the item is generally sold "as is". Indicate if the property on the land is also being sold or not. For example, your state might require that all bills of sale for motor vehicles be notarized. Several articles will need information in order to adequately document the … You can think of a bill of sale as being similar to a receipt. If this is for a vehicle, a copy should also be sent to the DMV. In sum, both the seller and the buyer have an obligation to deal with each other honestly. So here’s what information you should place in these forms: The name and contact details of both the buyer and the seller The specific type of equipment being bought Another helpful document is a receipt or proof of purchase. Fill out, securely sign, print or email your golf cart bill of sale form instantly with SignNow. Here are three easy steps for making your own. advice, Names, addresses, and contact information of the buyer and seller, If the item is being sold as-is, a statement for this, If the item is being sold with a warranty or guarantee, any and all representations of warranty from the seller, Signatures of the buyer and seller (notarized if required by state law), Vehicle identification number (VIN) or serial number. The Printable Basic Bill of Sale Template Form can be used to document a sale of any type of item between two parties. Find out exactly how much more money you could be making with my “Earning Potential” Personality Quiz (it only takes 3 minutes). For items of lesser value, you probably don’t need one. strengths, and discover how This form serves as a proof of purchase and indicates the who, what and when of the sale. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. Consideration for which the Asset is sold. When the Bill of Sale is filled out completely, signed, and the transaction is done, make sure both buyer and seller obtain a copy. At the time of publication, 30 states require a bill of sale before you can transfer ownership of the vehicle. In most cases, these come in a convenient bundle with carbon copies underneath so the seller has a copy of the document. to start making extra money — in as little as an hour. Be sure to include on the form the names, signatures, addresses and phone numbers of the buyer and seller, as well as the date of sale. In most states, you need a bill of sale for any type of titled personal property. Write the full name and address of the buyer on the first line of the form. This gives them proof of ownership as well as a record of their payment. General Bill of Sale Forms for any kind of equipment come with a format on how you should write them. If you try to hide a flaw and the buyer later discovers it, it might not matter if you sold the property as-is. The Quiz, Copyright I Will Teach You To Be Rich © 2020. I, the undersigned buyer, acknowledge receipt of this Bill of Sale and understand there is no guarantee or warranty, expressed or implied, with respect to the above-described property. The bill of sale also verifies the car's current odometer reading. Keep in mind that it’s always better to err on the side of too much information rather than too little. Golf Cart Bill Of Sale Template. A Bill of Sale is a sales receipt used to document a transaction between a seller and a buyer. The readings of Odometer. It provides proof that the ownership of an item was transferred from one party to another. It’s a legal document that gives protection to both parties by proving the sale was completed and that property and payment changed hands. The all-terrain vehicle (ATV) bill of sale form acts as a legal document representing the terms and conditions of a purchase and sale between a buyer and seller. Go. This is why it’s important to be specific about what you’re promising. However, you can also issue a bill of sale when you sell personal property like clothes, furniture, or even a puppy. The Livestock Bill of Sale should be used any time livestock is being sold from a seller to a buyer. Please "Share" this page with your facebook friends. It is usually used for the transfer of a car, and need not be created by a professional. Step 2: The seller enters his name; Step 3: The seller enters his full address; Step 4: The seller enters his phone number; Step 5: The seller enters his e-mail address On the other hand, state laws typically prohibit sellers from knowingly concealing an item’s defective condition. How to Write a Simple Bill of Sale Step 1. Examine documents verifying the true identities of both seller and buyer. a rich life, practical financial management This form serves as a record of necessary information, including the date of sale, price, vehicle information, and names/addresses for both the seller and the buyer. A Bill of Sale helps protect both the seller and the buyer from any future issues. However, you might want to draft one if you’re selling something like a TV or valuable antique. If you’re the buyer, you should conduct a reasonable inspection of the property you’re purchasing before you agree to buy it as-is. Step 3. Whether you use a pre-printed form you buy at a store or print out your own bill of sale from a template, you should always retain a copy for your records. Otherwise called a sale bill, these are usually used to protect the seller against claims of performance, … By contrast, if they sell it with a warranty, the bill of sale should spell out what they’re guaranteeing. Identify The As-Is Seller. For the seller, a bill of sale is proof that the item being transferred was accepted by the buyer in the condition described. A Bill of Sale, also called a sales receipt or sales slip, is used during a transaction between two parties. A Bill of Sale can be used for automobiles, boats, pets, furniture, … to start making extra money — in as little as an hour. Find Your State’s Requirements. Using cash to buy an item without proper documentation makes it hard to prove that the buyer paid and received the item. It serves as a receipt for both buyer and seller and gives details about the car. If you’re selling something of minimal value, such as items at a garage sale, you probably don’t need to bother with a bill of sale. Have a look at the things below. If you’re selling a vehicle, you should check your state’s laws as most states require a bill of sale. You can use a bill of sale to document a variety of purchases, with most people using them for cars, motorcycles, or boats. Constituents of a Bill of Sale: Make and Model number of the Fixed asset. This is why it’s important to check your state’s laws before going forward with the transaction. A vehicle bill of sale in Rhode Island is a legal document that represents the transfer of ownership rights from one legal party to another. In addition to the basic contact info for both the buyer and seller, your used car bill of sale needs to include the purchase amount and plenty of identifying details for the vehicle in question, from the VIN to its appearance. Please enter your ZIP Code to access Bill of Sale Requirements specific to your state: ZIP Code. 10 11 . At the top of the blank bill of sale form, enter you and your buyer’s personal information, including … The details includes the Name and Address of the Sender. A legal description of the property, usually recorded in an ownership affidavit or requested from the local recorder's office. By signing up you will receive daily blog updates on, New York State Bill of Sale for a Motor Vehicle, living Sample 3 – Bill Of Sale For Car BILL OF SALE I, Jonas Smith, the seller, in the County of Franklin, in the State of Ohio, in consideration of (two thousand twenty four) dollars, $2,024, to be paid by Karen Coleman, the buyer, the receipt of which is hereby acknowledged, do hereby sell and deliver unto Karen Coleman, buyer the following: I, the undersigned seller, do sell the above-described item to the buyer for the amount shown and certify that all of the information provided in this Bill of Sale is true and accurate to the best of my knowledge. Year of manufacture of the product. Most of these states have pretty much the same requirements; however, some require you to have a notary public witness you and the purchaser -- or gift recipient -- sign the bill of sale and sign off on it as well. Find the official title of your vehicle. A bill of sale for the car is basically a document which verifies that you have sold or purchased any car, this bill of sale includes some of the basic and important information related to your car and the sale information. By using a template, you can feel more confident that your document includes all the details it needs. Take my earning potential quiz and get a custom report based on your unique After you buy a vehicle, you will … For example, some states require motorists to produce a bill of sale before they can register a vehicle in their name. Like all basic real estate contracts, bill of sale land contracts include: A heading, like Land Contract or Contract for Deed. [SIGNATURE PAGE FOLLOWS] Each party is signing this bill of sale on the date stated opposite that party's signature. In other states, a vehicle bill of sale must list out the make and model of the car, as well as its mileage and condition. Start Copyright 2020 Leaf Group Ltd. / Leaf Group Media, http://siy.cars.com/pdf/carscom_bill_of_sale.pdf. The bill of sale is your record that the transaction was completed. In the case of a vehicle, include the make, model, year and vehicle identification number. Bills of sale are common documents, which means there are many free templates available online. In short, it’s a good idea to have a bill of sale any time you’re selling a vehicle or something of significant value. However, some state laws provide that the title itself qualifies as a bill of sale, so a separate document isn’t needed. It transfers ownership of personal property from one person to another. The most traditional way to create a bill of sale is to have a lawyer draft one for you. Track down your state's laws and regulations regarding bills of sale. While drafting a Real Estate Bill of Sale, you need to include the following things: Location of the property: This section includes the exact address of the property and the name of the place where the property is located. For example, if you sell a car “as-is” you aren’t responsible for any repairs if the air conditioning breaks three months after the sale. It is most commonly used when selling a car, as this is an exchange that would definitely need insurance, but it can and should be used in the exchange of most objects. To ensure you’re protected and fully compliant with the law, research your state’s requirements for bills of sale. When using a bill of sale for this purpose, include the amounts and due dates of expected payments and any agreement about late fees and interest rates. The Mississippi vehicle bill of sale is designated for an automobile’s ownership to be transferred from one party to another according to State law (35.VII.5.08).The bill of sale is needed for the registration of the vehicle after the transaction and to provide documentation for both buyer and seller. This form is provided in Microsoft Word format. Kimberly Porter is a writer based in Miami, FL, first published in 2004 when she was an intern with "The Miami Herald." Porter currently writes for Trails Travel, GolfLink, eHow, LIVESTRONG.COM and USA Today Travel Tips. Generally, the seller writes up the bill of sale which should spell out all the details of the exchange. Sellers can draft a bill of sale on their own, but it’s often helpful to use a template. In some states, such as California, a written Bill of Sale is recommended if … Additionally, office supply stores often sell printed bills of sale with blank spaces you can fill in when you make a sale. Some transactions are regulated by state law, which may require a … Take my earning potential quiz and get a custom report based on your unique strengths, and discover how While there are no universal formats or rules for what a bill of sale should look like, the document should include the names of the seller and buyer, a description of the item being sold, and the date of the sale. Get my FREE insider newsletter that is helping 400,000+ people MAKE MORE MONEY! Step 2. Include a full description of the item being sold and its condition. Bill of Sale Information. This means they aren’t extending a warranty that everything on the car works perfectly since the vehicle’s used condition could mean there is an unknown underlying problem with a component of the car. Vehicle Identification Number/ Hull no. Not all states require them, but it’s a … Sellers Information: A Bill of Sale must include all the details regarding the Sender. It is a simple form including the most basic of information, but it acts as an insurance policy so that the buyer can show proof of ownership. Examine documents verifying the true identities of both seller and buyer. Step 1: Enter the date of the execution of this transaction in the space provided at the top right hand of the form; In the space provided for seller. Discover how to start your second income stream. Bill of Sale Summary: You will likely need a bill of sale form whenever you buy a vehicle from, or sell one to, another person. How To Write A Song; Learn How To Play Guitar; Learn To Play Piano; Use this form as a bill of sale for a sale of a musical Instrument. Additionally, states that regulate bills of sale for the transfer of vehicles often have specific formatting and information requirements. Each state has its own rules for bills of sale and when they’re required. When it comes to the sale of used personal property, it’s quite common for sellers to specify that the sale is for property in “as-is condition.” This way, they’re not on the hook for guaranteeing the property’s condition down the road. Some transactions are regulated by state law, which may require a bill of sale. Once you’ve filled out the bill of sale and completed your transaction, you should retain one copy of the bill of sale and give another copy to the buyer. Since then she has interned with "Ocean Drive Magazine," and worked as a contributing writer for "Social Affairs Magazine." The bill of sale should only be filled-in after a sales price has been reached and the monetary funds along with the ATV is available to be transferred. Basically, a bill of sale confirms that ownership has changed. This includes private sales and auctions, and livestock includes many farm animals such as cattle, swine, sheep, goats, chickens and other farm animals. The date this bill of sale is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this bill of sale. Here are some templates for bills of sale you can find online: Once you’ve found a template you like, you should review it to make sure it includes all the information you need for a legally compliant bill of sale. In some states, you may need to produce the bill of sale when you register your vehicle or transfer the title. ADDITIONAL TERMS OF SALE. The most common example of this is the sale of vehicles, motorcycles, and boats. How to Write : Dog or Puppy Bill of Sale . You can use it to have a receipt for money paid for a musical instrument. It is also used to offer a detail account for the purchase procedure. Depending on which state they live in, they might also need the bill of sale to complete the transfer of ownership. 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