Vehicle Bill of Sale – What Should Be the Components?

A legally binding document, a vehicle bill of sale involves vehicle ownership transfer from one party to another – or from the seller to the buyer. It mentions all the transaction details, which include information about the mileage, vehicle quality, price etc. This document needs to be signed as well as kept by all the parties who are part of the transaction. Know about the components of this type of bill of sale. Please visit this site to ​​get a sample bill of sale form.

 

Buyer and Seller details

A car bill of sale template must include the names of all the buyers and sellers. The common and important pieces of information include vehicle name, street addresses and more. The seller needs to describe himself or herself as the car owner, and state explicitly that he is transferring the property ownership to the purchaser.

Witness Information

Every auto bill of sale form needs to have an official witness, to be regarded as legal. It comprises of the street address and full legal name of the witness of the bill of sale.

Vehicle Description

It needs to comprise of all the necessary details about the vehicle, including odometer reading, condition, color and other physical information as well as the seller registration number, vehicle identification number (VIN), year of manufacture, model, make etc. The vehicle title, in case it has been applied for earlier, also needs to be specified.

Payment information

An ATV bill of sale form should also specify the payment method, the payment schedule, the exact amount that is due, the due payment date, number of installments etc. In case the vehicle is being given as a present, it also has to be mentioned. The relationship between both parties – spouse-spouse, parent-child – needs to be declared as well.

Signatures

The signatures of the seller, buyer and witness should be there alongside their full legal printed names.


For more information about getting a TN bill of sale and bill of sale in Rhode Island, please visit this website.


Read more article about bill of sale form here at - http://eggzack.com/article/2019-02-16-find-a-vehicle-bill-of-sale-document-for-buying-and-selling-of-a-car.html