A bill of sale is a legal document that transfers ownership of goods from seller to buyer. A bill of sale is often used to transfer ownership of items such as cars, boats, real estate, and even pets.
When selling a car, boat, home, or any other item, a bill of sale is signed by both parties to confirm the transaction. In some cases, the seller may need to provide proof of ownership before they can sell their property. If the seller does not have a bill of sale, then they cannot legally sell the item until they obtain one. You can get different types of printable free bill of sale templates online, to download and customize for your needs.
Auto Bill of Sale Benefits for Sellers and Buyers
If a person wants to sell a car, he should make sure that he signs a bill of sale with the buyer and keeps a copy of the document. Not only does it protect the seller from getting accused if the product turns out to be defective later, it also helps the buyer prove that he paid for the automobile.
Many sellers who want to sell their cars online use an Arizona bill of sale to ensure that they receive payment for their products.
When buying a car, a bill of sale can help protect the buyer from being charged with accusation of not making full payment.
Because there are strict laws regarding used car sales from private owners at the federal level, many states do not allow people to buy a second hand car from an individual without a bill of sale.
However, if someone purchases a car from a registered automobile showroom or store, and has a receipt to show, he can legally own the product. In case of purchase from a private seller, by having a bill of sale, the buyer can prove that he/she purchased the car legally. Templates of this type of document can be downloaded for free from websites that have legal forms on offer. You can get it customized for your own specific requirements.
Author Bio
Carl writes often about legal drafting, rental & commercial lease agreements, power of attorney, Bill of Sale and help the people in such document needs.