Carl Glendon

Top Things to Expect In a Bill Of Sale Form

A Bill of Sale is a document that offers protection to both parties involved in a transaction the buyer and the seller. This is a written instrument that serves as a proof of the sale of an asset or property.

It is not mandatory in all states to use a bill of sale but it can be in the best interests of both parties to have one in place. Find out what you can find in a free bill of sale template for car.

Date

The date of actual transaction for transfer of ownership of the automobile from the seller to the purchaser should be there initially.

Buyer's section

The full name, contact number and address of the buyer should be there in the column intended for purchaser. Name and contact details are important.

Seller's section

The full name, contact number and address of the seller should be given in the column in the Arkansas bill of sale that is intended for the person who is selling the automobile.

Both parties - the seller and the buyer, should sign the document and give their consent to the transaction of the car.

Description of the car

There should be a proper and detailed description of the car that is being sold. In case there is warranty coverage for the automobile, it should be clearly written what the warranty type and warranty period are. When it comes to the sale of a vehicle, its mileage, make, chassis number and model number should be mentioned. Any other relevant details about the car should also be mentioned in the Bill of Sale document.

Sale amount

The amount for which the car is being sold to the buyer should be mentioned in the Bill of Sale document. The amount should be mentioned in numerals as well as in words. It has to be clearly stated whether the purchaser has paid the full amount or only paid a deposit giving his consent to pay the balance amount in a few installments.

The signatures of the buyer and the seller should be there in the bill of sale document and the signing should be done before notary public to confirm the car sale transaction.

Author Resource:-

Carl writes often about legal drafting, rental ?& commercial lease agreements, power of attorney, Bill of Sale ?and help the people in such ?document ?needs.