Carl Glendon

What Should A Bill Of Sale Document Include?

The need for a bill of sale document cannot be overemphasized. This type of document helps record that a transaction has taken place and there has been a change of title or ownership of an asset, such as a property, a car, a horse, a boat etc. It can work as a source of reference as well as a receipt. Keep in mind that there are some important things that you need to include in an Arizona bill of sale document. Read and find out about a few of the same.

Asset information

This is of course one of the initial things that you need to include in the document, so that that can be no problem in understanding what kind of asset is being used in the transaction.

If it is a car that you are selling, you have to include all the important details such as VIN information, make and model number of the car, its mileage information, its chassis information etc.

Payment information

You have to also write down how much money you are getting for the sale of the vehicle in question or any asset that you are selling. It is also essential to write down about the mode of payment and whether the entire sale amount is being cleared or it will be paid in installments.

When you check these kinds of legal documents online, you will find a separate section being there for the payment information. You can copy it 'as it is' or customize it for your specific circumstances and requirements.

Whether or not the asset is being sold 'as it is'

It might be a very good idea to include details about whether or not you are selling the asset 'as it is'. If the buyer is purchasing the item with complete information that he is making the purchase of the asset in an 'as it is' condition, you will not have to bear any responsibility for the same in the future.

Suppose you are selling a car with some inherent issues that are found out after sometime, such as after a vehicular mishap. In such cases, you might be held liable for the accident in some ways. However, if you make it clear in the bill of sale document that you are selling the car 'as it is', you can avoid that responsibility.

Author Bio

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