Taking Care of The Vehicle Bill of Sale
Buying new vehicle or selling an old one should be done properly by using a vehicle bill of sale in order to warrant the buyer that the condition of the vehicle they have bought is good. It contains the detail information of the vehicle and is used as the evidence that the change of the ownership of the vehicle itself. For those who want to sell or buy vehicle, you have to request this bill of sale at Department of Motor Vehicle along with the evidence of title transfer of the vehicle. The buyer and seller should sign the document in order for the document to be legal as a proof of the acceptance.
As a legal document, this bill of sale will contain some information related to the buyer and the seller includes the consideration which is offered by those both sides. Bill of sale for car will list both buyer and seller and the consideration offered such as the amount of money to transfer the ownership of the car. Other than that, other information will also be included, such as contact information; detail information of the car, as like make, model and build year of the car; accrued mileage and identification number; and also the contact information as like address and phone numbers. The crucial detail like transaction date and the driver’s license number of both sides can also be added in as well.
In completing the document, the agreement of both sides should also be included as the understanding. Remember that in automobile bill of sale especially in the agreement is important to warranty and protect the buyer if something happen to the car after it is paid and transferred the ownership. Other than used for vehicle transactions, it can also be used for other kinds of property, such as animal and pets, furniture equipment, business equipment and others. The detail information should suitable with the property being sold and the agreement and the consideration also depends on the condition and property itself.
Motor is the common property which is sold by using this bill of sale. A simple bill of sale form can help the transaction as well as the simple understanding of both sides. Motor vehicle bill of sale detail information is almost the same as the automobile one, such as the buyer’s information with full name, address, city, code zip and also state which is the same with the information of the seller; vehicle description includes date of sale, make of vehicle, year built, model and car; sometimes trade in; and also the detail of selling price of the property. The agreement for both sides depends on they decision, but make sure it can warranty the buyer for the prevention action.
Buying and selling a property will always need bill of sale as a proof of the transferring the title from the previous owner to the new owner. Car bill of sale is important during the title transfer because some agencies will calculate the license fee based on this document. A bill of sale also help you to avoid the attendant turn away your property until you show the legal vehicle registration along with the bill of sale document or other paperwork which explain about the purchasing price.
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