 |
 |
 |
Download sample bill of sale in PDF format.
Understanding a Blank Bill of Sale
Large value transactions such as cars, homes and even certain types of service contracts need to be covered by a bill of sale in a format prescribed by law. A blank bill of sale is of immense use to people who are otherwise not familiar with this legal document. When you scour the internet for the blank bill of sale, you can notice subtle differences between some of these blanks. Though the structure of the form is common for all transactions, the content would vary depending on the nature of transactions. Thus, for automobiles the bill of sale is different from the one used for a home. Let us know explore the salient aspects of a bill of sale for automobiles.
The blank bill of sale gains significant importance particularly while purchasing used cars and many of us do this at regular intervals. Let us know examine a bill of sale with specific reference to used cars.
The bill of sale employed for the purpose of used cars should have the name, address, contact information and personal identity proof such as the SSN of the buyer as well as the seller. If the buyer/seller is acting on behalf of someone else, this information should also be prominently included. The next step is to record details of the car being sold. The make, model, agreed price and the general condition of the vehicle are recorded.
A crucial information that should figure in the bill of sale for used cars is the odometer reading. Even if the blank bill of sale you are considering does not have a provision for this information you must include this to play it safe. After completing the transaction if the new owner attempts to roll back the reading in order to get a higher resale value, and it is subsequently detected, the responsibility for the event can be easily pinned on the real culprit rather than having to subject yourself to any kind of scrutiny. This way, the seller can remain fully protected any eventualities on account of the odometer readings which has now become an everyday occurrence.
Yet another important part of the bill of sale covering used vehicles is a declaration by the seller on his/her authority to sell the car. In the bill of sale, the seller should declare that he/she is sole owner of the car and that there are no liabilities on the vehicle either to auto loan financiers or any other type of lenders. This will protect the buyer from the consequences of buying a stolen car or cars with a lien on them.
Finally, the blank bill of sale after having been duly filled in with due attention to the elements described above, should be signed by both parties in the presence of witnesses. Getting the document notarized can buy you complete peace of mind and in some states, this is even a statutory requirement.