What does a bill of sale means? What Is a Bill of Sale?Ī bill of sale is a legal document that records the transfer of ownership of an asset from one person to another. What are the different types of bill of sale? What are the state-specific requirements for a bill of sale? What is the purpose of vehicle bill of sale?
See why you should consider using a bill of sale for your next used car sales experience and how PrivateAuto makes the bill of sale process easy. While not required by every state Department of Motor Vehicles or DMV, this legal document protects you from liability. When you donate your car to charity, the donation organizer will handle all of the necessary paperwork to complete the transfer of ownership, however you must still submit a release of liability to the DMV.A bill of sale for car transactions verifies that you sold your vehicle to a buyer. Do I need a Bill of Sale to donate a car ? Some states require a Bill of Sale for private party car sales and some do not, however the form is useful to record the details of the transaction for future reference even when it’s not required. Vehicle year, make, model, body type, color, mileage, VIN – date of transaction – sale price – buyer’s name, physical address, phone number, and signature – seller’s name, physical address, phone number, and signature.ĭo I need a Bill of Sale to sell my car privately ? Official verbiage differs by state, however a Bill of Sale template must at least contain the following information: The most common forms to accompany the Bill of Sale are a Certificate of Title and an official DMV Transfer Form. Check your state’s website for a list of official documents and procedures.
Additional documents are also required along with a visit to the DMV to officially complete the transfer of ownership.
The certificate of ownership (aka car title) must accompany the Bill of Sale during the transaction. It is important to note that a Bill of Sale does not transfer ownership. Many states provide an official DMV Bill of Sale, but some states do not offer an official form and thus templates for those states were created by F&I Tools for private party "as is" car sales.Ī Bill of Sale is a receipt to document the transaction during the sale of a motor vehicle. The look of a Private Party Bill of Sale varies by state because private party car sales are regulated by state motor vehicle agencies.
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