Quitclaim bill of saleĪ quitclaim bill of sale is similar to a quitclaim deed: It transfers ownership of property from one party to another. Still, other states require that the form be notarized. For example, some states require only the buyer to sign the document, while others require both the buyer and the seller to sign the document. When drafting even a simple bill of sale, make sure it complies with your state requirements, which will vary by state.
Parts of a bill of saleĪ generic bill of sale includes the following information: If you are the buyer, and you want a bill of sale, you can bring one with you, even though the seller typically provides it. If you're selling an item of lesser value, such as clothing, it comes down to personal preference as to whether you want to take the time and trouble to draft a bill of sale. Most states require a bill of sale as proof of purchase when buying or selling a vehicle or a branded animal, like a horse (a horse bill of sale). When should you use a bill of sale?Ī bill of sale is commonly used when selling or buying an item of value.
It protects both the buyer and the seller, should disagreements arise in the future. The bill of sale, as a rule, is drafted by the seller and includes the details of the transaction.
It also can be used to record the sale of personal property, such as animals or furniture. The document is commonly used to record the sale of aircraft, autos, motorcycles, and watercraft. A bill of sale is a legal document that records the transfer of ownership of an asset to a second party in exchange for money.
0 kommentar(er)
