If you’re selling your vehicle, a bill of sale is one of the most important documents to have on hand. The form proves that ownership has changed hands and can protect you from liability in the event of a dispute or an accident.
Whether you’re selling your car to a friend, a family member or even a stranger, a bill of sale is a legal document that ensures both parties are on the same page when it comes to the details of the transaction. In addition to establishing proof of sale, the form can also help clarify what terms and conditions both parties agreed to.
In most states, a bill of sale is required for the transfer of ownership when selling vehicles or large animals. In addition, some bills of sale must be notarized. When looking for a bill of sale template, it is generally best to find a form from a reputable source, such as a website affiliated with a law firm or professional service or your state’s department of motor vehicles.
In the bill of sale, both parties’ names and street addresses should be recorded, as well as the name of the vehicle and its make, model and year. The odometer reading should be recorded as well. Some states require that sellers disclose the odometer reading at the time of sale, and warrant that the mileage shown on the odometer is accurate. In addition, some states include a section for any additional terms and conditions that both parties agreed to.