What is a Bill of sale?

When you buy a vehicle, a boat or even snowmobile, make sure, that you can receive acceptable proof of ownership. This form is a legal document, that is used to transfer ownership of a subject from a seller to a buyer. Bill of sale is needed in order to avoid any difficulties while registration the vehicle or getting a title certificate. Furthermore, such a form may be used in a court of law. That’s a why it is really important to record dates of ownership transfer and warranty information. Include contact data, descriptions of items and a payment method. However, there are different requirements in different states, so it’s better to choose the appropriate template before completing a document.

How to prepare the Bill of sale?

The major components are outlined below.  

• Property location. Specify the location of the item being sold. Include basic facts: city, country, state, etc. Add a brief description of the subject if needed.
  
• Seller’s and buyer’s contacts. This section includes full names of the both parties. It should mentioned if any third parties are involved.
  
• Price. Accurately specify the total costs and all the expenses connected to the deal.
  
• Form of payment. It may be cash, personal check, certified check, money order, etc
  
• Sales Tax. Mention if taxes are included into the total price or added.
  
• Property. This section is for dates of making purchase and for conditions under which the property is transferred.
  
• Witness information. If a witness is presented for the assignment, there should be specified his/her name, address and other contacts.
  

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