Carl Glendon

How To Create A Bill Of Sale Form Properly?

A printable bill of sale is a comparatively basic legal document that ensures asset title transfer from one entity or person to a new owner. It usually includes the minimum details that are needed for the confirmation of ownership transfer of an asset. The document is an affirmation of the fact that the transaction was made in such a way that all parties agreed to the terms mentioned in the transaction. Find out how to create a bill of sale form in a proper way.

Include all the transaction details

Make sure that the form consists of the transaction date, and clearly mentions the names of the seller and buyer, along with the item's purchase cost. In case you are trying to sell a vehicle, make sure that the car model, make and year of manufacture are included. Also, when applicable, you should write down the current mileage and VIN (vehicle identification number). Else, the description and serial number of the item would be enough.

Put down the agreement terms

It is important that you write all the agreement terms down. A limited guarantee might be offered by private sellers. For instance, they can offer a limited guarantee or just sell the thing "as is" and refusing any responsibilities for repairs - even when they are needed at present. Any understandings and verbal agreements have to be written down in a blank bill of sale form regarding the condition of the property and the solution for the buyer if extensive repairs are required. There can be misunderstandings at a later stage if there is a failure in recording particular terms on the document. Please visit this site to get a sample Tennessee bill of sale.

Mention the price

You have to mention the cost of the item that both parties agreed on, whether in exchange for money or in exchange for any other asset. This is regarded as a complete document and legally binding at that point where it is signed by both the seller and the buyer. It is essential to give identification marks in the bill of sale template - like the serial number, sign of the manufacturer etc and other details that can help in distinguishing the vehicle.

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 online bill of sale forms blog. To learn more about drafting a bill of sale in Pennsylvania online, visit this website.