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These bill of sale forms include state specific templates. All you will find here are bill of sale forms. Our goal is to provide you with a large variety of the most common bill of sale forms and legal templates.
Why is a Bill Of Sale Is Important? The bill of sale is generally to do with the "buy and sell" of personal items, property or assets of little or of great value. In essence, a bill of sale is a legally valid document which comes into play, when the seller transfers all rights and ownership of his or her property to the buyer of the property. The bill of sale is essential for legally binding the transaction. This legal form reduces the chance of any misunderstandings occurring after the sale, and guarantees all rights and ownership to the buyer. It is a worthwhile document to use when it comes to securing legal protection for the buyer as well as the seller.
At your dosposal, you will find ready-to-use templates including bill of sale for art, car, boat, truck, horse, pet, livestock, gun, computer, furniture, firearm, equipment, trailer, motorcycle, motor home, and many others.
What is a Bill of Sale?
A Bill of Sale is simply a legal agreement between two parties involving the sale of a goods between the seller and the buyer. In most cases, it is duly signed and dated at a specific place, and generally includes transfer of goods along with a specific amount of money or a mutual exchange for another item of similar worth and value.
"As a legal document
the Bill of Sale should clearly
outline the terms of sale"
If the item of sale is free and clear of any liens and outstanding monies it should also be inserted in the Bill of Sale. If the item is offered for sale with terms these should be clearly stated in the Bill of Sale document.
It is also advisable to have the buyer sign a "Promissory Note" and/or a "Security Agreement" together with the Bill of Sale. Generally speaking, it isn't wise to use a simple Bill of Sale for realty or for corporation stock and/or personal shares. But for property such as "artwork" a bill of sale for artwork is all that is required.
The prime reason for using a bill of sale document is to make a legal record of the sale and to guarantee in writing that the sale was entered into on a specific time and place. The terms of the document should be written in plain English clearly stating the intention of both parties. To make certain that the document is legal and binding there must be a clear offer and acceptance of the offer, and it must include the most important aspect to ensure it is legal and that is the all-important "consideration" which in simple terms is either payment or exchange of property of equal value and worth.
By putting the transaction in writing it provides both parties with legal protection and a record of the transaction. This can prevent misunderstandings from occuring and/or any unforeseeable problems which could occur either during or after the sale. If a problem or dispute relating to the initial transaction ever does occur and winds up in a court of law a clearly worded bill of sale can diffuse a dispute and save everyone involved a lot of unnecessary pain and costs.
USA State Templates:
A Bill of Sale should incorporate:
1. The names of both parties in complete form. For example: If one party is John Smith, don't just write "John Smith" write or type the name in full as "John William Smith" etc. The same goes for the street address of both parties. You should make sure it includes the exact spelling, the city and the zip code. It's also a good idea to include all telephone numbers as well as the persons email address. Of course, you should also include a clear and precise statement that the seller is transferring all rights and ownership to the prospective buyer (See sample bill of sale).
2. A clear and precise statement the item(s) being in the sale. It must include the manufacture or make, any model numbers, what type of color the item is, and any serial and/or government registration numbers. This is especially so when it comes to product identification trademarks or corporation logos, etc. This is essential in clearly identifying the sale item.
3. If there is no exchange of goods and the sale involves payment for said item being offered for sale then you must clearly state what currency the sale item is being paid for, and precisely how the payment will be made by cash, credit card, direct debit, etc. For more information, please read how to use bill of sale forms.
Another thing to keep in mind is, a Bill of Sale can be written as "straight transaction" or it can be a "conditional transaction" which may include something of value to be used as security for the payment of the funds. A straight Bill of Sale is a completed transaction.
However, a conditional Bill of Sale may allow the seller to hold or secure the sale item as collateral, and this generally is the case where an ongoing payment system is entered into. Once payment is made in full, the buyer owns the item. But if the buyer does default, then under the terms and conditions of the Bill of Sale the seller may legally assume ownership of the item.
Note: Bill-of-sale.org does not provide legal advice. Please consult a local lawyer for legal advice. Due to periodic changes in local, state and federal laws it is wise to first seek the professional advice of an experienced and qualified lawyer prior to using a free bill of sale form and bill of sale template. © Copyright