 |
 |
 |
Download sample bill of sale in PDF format.
Sample Bill of Sale: Don’t Sell Anything without One
Are you planning on privately selling an expensive item—an item such as a car, boat or jewelry—in the not so distant future? Have you considered using a bill of sale to legitimize this sale and make it legal? Selling an expensive item, such as an automobile, is not as simple as just collecting the cash or check from the buyer. This situation requires a sort of legal changing of hands, or more specifically a bill of sale to make the transaction legal and to release you from any future liability. In this article we will show you why a bill of sale is so important, and we will furthermore outline what type of information you should look for when searching for a sample bill of sale online.
Why Do I Need a Bill of Sale?
A bill of sale, while it certainly serves as a type of receipt for a transaction, is actually much more than that. Let’s take the example of an automobile sale. When you’re ready to sell your car and you’ve found a buyer, you may be tempted to hurry the transaction along, get your cash and be on your way. This, however, would be a mistake. Unless you draft a bill of sale, a receipt indicating that this automobile has changed hands, you may still be liable should that car be involved in an accident or some other unfortunate incident. A bill of sale protects you as the seller from any future claims regarding this automobile, and similarly protects the buyer should you, as the seller, have a change of heart regarding the transaction.
What Should a Sample Bill of Sale Contain?
A sample bill of sale can be found on many different websites that feature business documents, but keep in mind that not all “bills of sale” are alike. These documents will vary depending on the item to be sold, and while the most popular type available is undoubtedly for automobile sales, there are other samples available as well. For the purpose of this article, and for the sake of brevity, however, let’s take a look at what should be included on an automobile bill of sale:
• Seller’s Name and Information. At the top portion of the bill of sale, the seller’s name and personal information should be clearly written.
• Buyer’s Name and Information. The buyer’s name, address, telephone number and any other pertinent information should be listed next.
• Description of the Item to Be Sold. In this case, where we are selling an automobile, a full description of the item should be given. This includes the make, model and color of the car, the vehicle identification number and the odometer reading at the time of purchase.
• Release of Liability. The release of liability is simply a statement that indicates the new buyer is assuming all legal responsibilities with regard to this automobile.
• Signatures. The bill of sale does not become a legally binding document until it is signed by both parties.
A versatile sample bill of sale should contain all of the above-listed information, and should be clear and easy to understand. You can use these documents anytime you sell or buy an expensive item to help protect both buyer and seller alike from any future liability.