Carl Glendon

What Are The Terms Of A Bill Of Sale Document?

A Bill of Sale document is a type of legal document that is used for the ownership transfer of an item from the seller to the buyer. It has all the vital pieces of information about the sale, such as the sellers' and buyers' contact information, warranty details, the price that is paid, time, date etc and other important transaction details. Day-to-day BOS are available in numerous forms, and generally include the following terms.

Property

It includes the property transfer date. It also mentions if the item in under warranty or is being sold in "as is" condition. In case of the latter, the BOS mentions that the buyer gets the chance to check and approve the condition of the item. In case you are selling or buying a car, make sure that you include the odometer reading, license plate number and Vehicle Identification Number (VIN).

Property Location

This type of printable bill of sale template mentions the location of the property that is being sold. This typically comprises of just general information about the location - zip code, state, country, city etc. The BOS also consists of a short description about the item under sale. Please visit this site to get a sample bill of sale PDF.

Sales Tax

This part mentions how the price will be affected by sales tax. This is either added to the cost or is included in the cost.

Witness Information

This part is only relevant in case a witness is there to sign the BOS document. The section consists of the full name, contact details and address. The witness might be a party that the seller or buyer agrees on, or can be a public notary.

Vehicle Information Number (VIN)

A VIN is actually the serial number of a car. It is 17 characters long, and can correspond to the vehicle's manufacturing details, such as the year of manufacturing of the car, where the vehicle was built, and the particular model. Please visit this website to get a sample bill of sale Louisiana template.

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 free legal contracts news blog. To learn more about drafting a bill of sale in North Carolina online, visit this website.