What Should Be Included in a Motor Vehicle Bill of Sale?

  • A Motor Vehicle Bill of Sale may be regarded as a written agreement between a buyer and the present owner of a car for the sale of a vehicle and the transfer of ownership by accepting particular compensation amount for the item. It helps the owner show that he owns the vehicle during the sale, and bear entire responsibility of disputes (if any) related to the ownership at any time in the future. Find out what should be included while preparing this type of document. Please visit this site to ​​get a sample bill of sale.

    Contact details

    The contact information of both parties needs to be included in such types of documents.

    Time and date

    The agreement should also contain information about the time and date of the transaction.

    Vehicle details

    If you are the seller, you should also include all the information that can work as identifiers for the vehicle – such as mileage, model, make and color. The Identification and Registration Numbers should also be included therein.

    Payment mode

    The vehicle bill of sale must also mention the mode of payment for the transaction, such as cash, check, Net Banking, Wire Transfer, PayPal or any other method.

    Equipments

    As the present owner, you have to also include information about the equipments that are being transferred at the time of the sale.

    Location

    Mention the vehicle’s present location, or where the ownership transfer of the car is being conducted.

    Warranty information

    You have to mention whether the vehicle is still under manufacturer’s warranty, and whether some type of guarantee is being offered from your end.

    Signature

    The signature of both parties, the buyer and the seller, is very important. If the document is not signed, it will not have any legal validity in a court of law. You cannot use it for resolving any confusions or lawsuits related to the vehicle in future.

    For more information about getting a bill of sale in Maryland and bill of sale in Ohio, please visit this website.

    Read more articles about bill of sale form here at - http://www.imfaceplate.com/CarlGlendon/what-are-the-terms-of-a-bill-of-sale-document