Top Things to Know About Car Bill Of Sale

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Top Things to Know About Car Bill Of Sale

Posted By Carl Glendon     October 9, 2021    

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A Bill of Sale can be used to transfer the ownership of an item or vehicle from one person - the seller – to another person – i.e., the buyer. It is an important document that is mandatory in some states while not so important in others, although serves as a ready source of reference and confirmation that a transaction has taken place. It is a proof of ownership that can always be produced in a court of law to clear any doubt regarding the identity of the owner of an object or vehicle. Know about some of the important details that must be included in a bill of sale free template for car.

Names

The names of the two parties – the buyer and the seller, must be written in the document. The full names of the two must be mentioned, so as to clear any confusion regarding the identity of both of them. If there is some problem in future, such as any argument or fights, the document can be produced in a local court of law to show who owns the car and who the prior owner was.

Signatures

Both parties have to sign the bill of sale in Oklahoma and in almost any other state that it is used in. In the absence of signatures, the document would not be regarded as a valid one. In a few states, there is also the requirement that the signatures must be notarized. Notarized bill of sale documents carry more weight in any case. If you are not sure whether your state demands notarization as a mandatory requirement, it is a good idea to get it notarized - just to be on the safe side.

Contact addresses

The bill of sale must also have the contact details of both parties in place, such as the address, contact number and all relevant pieces of information to ensure that the buyer and seller can be contacted whenever needed – in case of any requirement. In most states, this is regarded as the first piece of paperwork that as a receipt and proves the transfer of ownership from seller to buyer.

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