The involvement of paperwork is of vital importance in selling any kind of property. One of the most important papers is the bill of sale. This legal document serves to transfer the ownership of a particular property from a seller to a buyer. During the transfer of ownership title, the pertinent information contained in this document is highly needed by the authority.
What pertinent information should be included in a bill of sale? The contact information of both the buyer and the seller should be contained in the document. This is written on the document’s first section. The contact information typically includes name, phone number, home and e-mail addresses, and social security number. The information regarding the property is also important. For instance, if the property is a vehicle, the information must include the vehicle’s model, color, year, make, VIN number and weight. The odometer reading must also be included in the document. The details regarding payment must not be forgotten including the price of purchase, payment method and other details on payment arrangement. This information or section may also include the condition of the property and necessary repair details. Lastly, one of the most important information in a bill of sale is the signature of both the seller and the buyer with the complete name underneath it. The date of the signing should also be included. The complete name and signature of at least one credible witness need to be included also. Remember, there should always be a reserved copy for the buyer and the seller.
Before writing a bill of sale, you should look for sample formats available to help you do the right things. There are important features that should never be excluded from this document. All the details contained therein are about the buyer, the seller and the item being sold.
This Bill of Sale is made on ____ (date), between ____ (seller) and ____ (buyer).
In exchange for the monetary amount of ____, the seller hereby acknowledges receipt of the said funds and agrees on the selling, granting, transferring and delivering of the following goods to the buyer:
The buyer has the full rights and title to the said goods.
The seller agrees that the goods are entirely free from any obstruction and he/she legally owns these goods. The seller has the full rights to sell these goods and will warrant and defend the right against any demand of any person and whatever legal claims.
Signature of Seller above printed name Date Signed
Signature of Buyer above printed name Date Signed