Here’s Why Bill Of Sale Is A Must While Buying Or Selling Used Vehicles

Posted by Carl Glendon on July 3rd, 2019

Vehicles may be depreciable by nature but they are still considered tangible property mainly because buying or selling the same even after a few years of usage involves hefty financial transactions. This is perhaps the most pertinent reason why transfer of ownership titles of vehicles should be accompanied by a well designed bill of sale. Free printable bill of sale being very easily available through trusted online legal platforms has encouraged innumerable sellers of used cars to approach the process the right way without feeling burdened.

Here are a few other reasons why it is imperative to insist upon a bill of sale while selling / buying used cars...

Firstly, an auto bill of sale for used vehicles or any vehicle for that matter legalises the transfer of ownership of the same. If you take a look at a blank bill of sale form you will see comprehensive sections that cover everything from the tiniest physical details of the vehicle to guarantees made in the part of the seller which is documented and signed by the involved parties. Therefore, in case of disparities, the bill of sale can act as evidence in the court of law. For more information about getting a free bill of sale, please visit this website.

Secondly, in many states in the USA Bill of sale is required by law. This basically means that if the purchase or sale has been made without a proper bill of sale, the transaction and transfer of title / ownership will be deemed illegal. Certain states also require that the document is notarised as well.

Thirdly, registering your vehicle is always easy with a bill of sale rather than a simple receipt. If you refer to a general bill of sale template, you can see that information like vehicle identification number (VIN), odometer reading, model, make, location etc are marked as sections that are mandatory to fill. These are also the pieces of information that makes the process of registration quicker and hassle free. Please visit this site to get a sample an Arkansas bill of sale for boat

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Author Resource:-

Carl writes often about online legal drafting like affidavit, bill of sale and release/ waiver agreement to help the people. You can find his thoughts at custom legal forms blog. To learn more about drafting a Tennessee vehicle bill of sale online, visit this website.