Vehicle Bill Of Sale – What Are The Main Components?

By Author: Carl Glendon
Total Articles: 127

A Bill Of Sale for Automobiles is document that is legally binding, and ensures the transfer of a vehicle’s ownership from the seller to the buyer. It mentions the transaction details, including but not restricted to the mileage, vehicle quality and price. This document has to be signed and kept by every party who are involved in this transaction. Find out about some of the primary components of this type of bill of sale (BOS).

Signatures

It has come at the end of the document, and follows a direct statement that communicates the consent of every party to the vehicle sale’s preceding terms, verifying all the details in the document, mentioned under perjury or penalty. It has to include the signatures of the witnesses, seller and buyer alongside each full legal name that is printed. The document needs to have the date when the BOS is signed.

Payment Details

It has to specify the payment method, the amount due exactly and the schedule of payment, which includes the due payment dates and the no. of installments. In case the vehicle is gifted, it should be specified as well. The relationship between all the parties – spouse-spouse, child-parent, has to be declared. For more information about getting a bill of sale form, please visit this website.

Property Description

A vehicle bill of sale has to include all the information about the vehicle, including odometer reading, condition, color, seller registration number, vehicle identification number (VIN), year, model, make etc. In case you have applied for the vehicle’s title in the past, it has to be specified as well.

Buyer and Seller Information

It has to include the names of all the sellers and buyers, and there are multiple sellers and buyers at times. It is common among every couple who writes both names on a car, and other relevant pieces of information – such as the addresses of streets. For more information about getting a vehicle bill of sale Arizona template, please visit here.

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 legal forms library news blog. Please visit this site to get a sample bill of sale in Nevada.