What does a bill of sale do?
A Bill of Sale is a document that transfers ownership of an asset (or assets) from a seller to a buyer. While the purchase and sale of used vehicles is arguably the most common use of Bills of Sale, they can be used for any items of value.
Is a title the same as a bill of sale?
Think of the two documents as complementary. While a bill of sale certifies a transfer of ownership between two parties, a title certifies the buyer's legal ownership. It's the final step in the process and proves that the buyer is the legal owner.
Can a bill of sale be written on a piece of paper?
Can a bill of sale be handwritten? While it is common to present a bill of sale in a digital format, you can also create this type of contractual agreement as a handwritten document on paper. What's most important is to include all of the pertinent details in the bill of sale in order to protect both parties.
Related Question what is a bill of sale
When should you use a bill of sale?
When Should You Use a Bill of Sale? A bill of sale is commonly used when selling or buying an item of value. 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).
What should a car bill of sale include?
Do I need to give a receipt when selling a car?
Whenever you engage in a car sales transaction, you should issue a receipt that accurately evidences the terms of the sale. The issuance of a sales receipt benefits both the buyer and the seller of the used car. From the buyer's perspective, they have a written record of the transfer of ownership.