Carl Glendon

How To Create A Car Bill Of Sale?

A bill of sale is a written document that indicates the current owner of an asset (such as a vehicle) and its sale price. It is important to have a bill of sale in order to prove ownership and avoid legal issues. A car bill of sale in Texas is important because it shows that you are the new owner of a vehicle and helps to protect you if anything goes wrong with your purchase. The seller should give you their copy at the time of purchase so that if there is any dispute over ownership in the future, you will have proof that you are entitled to keep it.

How to Create a Car Bill of Sale?

Make sure that your bill of sale includes information about both parties involved in the transaction and information about the vehicle being purchased. This includes:

• The name and address of both parties involved in the transaction (buyer and seller)

• The date on which title transfer has been done from one person to another

• The price paid for the vehicle by each party, including taxes, interest rates, fees, and other costs associated with purchasing or selling said vehicle; also known as "consideration")

• A description of the vehicle being sold (make and model) as well as its serial number if applicable

A properly-formatted bill of sale should include the above information. There should be name and address of the two parties, date and location of purchase, purchase price and finally, signatures from both parties. In a free vehicle bill of sale template, there has to be all the necessary details and a signature from each party - to make it legally valid.

Things to Remember

Keep in mind that the name and address of the buyer and seller should not be in abbreviated form, and aliases should not be used. Only full and proper names of both parties must be written down.

The address of both parties must be permanent ones, or the ones they are living in at the time of signing.

In some states, there might be a need to notarize these documents, to make them legally valid. Know your state requirements regarding the same.

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.