What should be listed on a bill of sale

Overview Bringing a pet into a family is both an emotional and practical decision. Once the decision has been made, the family may already be attached to the animal, looking forward already to the years they have in front of them with their pet.

The process for transferring ownership of an LLC depends on the type of transfer as well as the provisions of your operating agreement. What Is a Bill of Sale? Parts of a Bill of Sale A generic bill of sale includes the following information: Date of purchase Name and address of seller and of buyer Amount paid for the transfer of ownership Description of the assets being transferred Guarantee that the item is free from all claims and offsets Representations or warranties Signatures of seller, of buyer, and of a notary public When drafting even a simple bill of sale, make sure it complies with your state requirements, which will vary by state.

Quitclaim Bill of Sale A quitclaim bill of sale is similar to a quitclaim deed: It transfers ownership of property from one party to another. Vehicle Bill of Sale A vehicle bill of sale is not required in all states. A vehicle bill of sale also includes: Vehicle type i. Ready to start your Bill of Sale? Contents 4 min read Ready to start your Bill of Sale? Facebook Twitter. This portion of the site is for informational purposes only. The content is not legal advice.

The statements and opinions are the expression of the author, not LegalZoom, and have not been evaluated by LegalZoom for accuracy, completeness, or changes in the law. You may also like. Business Management Using a Vehicle Bill of Sale Many states require private sellers of vehicles to prepare a bill of sale to record the transaction. Business Management How to Use a Purchase Agreement Especially when it comes to large or complex transactions, using a purchase agreement can be the best way to handle the sale and purchase of goods.

Connecting …. Are You a Lawyer? Grow Your Practice. Jose Rivera Managing Editor Editor. Last Updated: Dec 9, Choose Your Legal Category: Family.

Criminal Defense. Real Estate. Personal Injury. Intellectual Property. Child Support. Other Legal Categories. X 1 Enter Zip Code or City this may not be the same place you live.

Breach of Contract. Scroll down for more categories. X Most Common Issues:. We've helped over 5 million people. Instead, a bill of sale typically includes an "as-is" provision. This is important because it limits the seller's future liability.

The "as-is" language means that there is no warranty included and that the buyer agrees to accept the item in its current condition, whether or not faults are readily apparent. A bill of sale may also include a statement that the seller warrants that there are no liens or other encumbrances on the property being sold and that the seller actually has proper title and the legal authority to enter into the sales transaction.

A bill of sale can only be used to transfer personal property that the seller already owns and that is movable, such as motor vehicles, animals like horses or dogs, or household goods.

A bill of sale cannot be used to transfer something that the seller does not own or that the seller does not have the legal right to transfer.

When selling real property real estate , a bill of sale cannot be used. When real estate is transferred, the sale will typically be documented on a quit claim deed or a general warranty deed , although different types of deeds may be used in certain transactions.

Before completing a bill of sale it is a good idea to collect some basic information, such as the name and address of the buyer and seller, the price, and any identifying details for the property being sold. For example, if you are selling a car, you will need the make, model, year, body type, odometer, and vehicle identification number VIN.

Next, you will use the information you gathered to create your bill of sale. LegalNature can help you by providing step-by-step guidance. Simply complete our questionnaire, which will tailor your bill of sale to your particular needs. The questions we ask change depending on your state and the answers submitted. Be sure to thoroughly review your bill of sale before signing it to make sure that there are no mistakes and that it will serve your needs.

If you need to make edits to the text of your document, you can do so by downloading it in. If you do not need to make edits, download your bill of sale in. You can find these downloads in your LegalNature dashboard after completing the questionnaire. However, we recommend using a notary regardless of your state. Using a notary helps authenticate the document in the event of a dispute. If you use a notary, then you must wait to sign the document until the notary is present.

If the parties are in different locations, they may have their signatures notarized separately. Upon having your bill of sale signed and notarized, it will be considered fully executed and legal.

Provide copies of the fully executed document to each party. It may also be a good idea to provide a copy to any third parties involved. Store your copy in a safe location. We recommend also making a digital copy as a backup. Completing a sale of goods agreement prior to delivery of the goods will help to fully protect both buyer and seller. What Does Terminated Mean? What Are Securities?

What is Trademark Infringement? Resource Guides. Most Recent Questions. My name is Ocaris and I was wondering what would be the cost to summons a few YouTube channels with a cease and desist letter? Can I trademark the name of my software? Cost to get a cease and desist order. SaaS Agreement for beta use for anyone. Home Types of Contracts Bill of Sale. Jump to Section. Need help with a Bill of Sale? Post Your Project It's Free. Get Bids to Compare. Hire Your Lawyer. What Is a Bill of Sale?

A bill of sale must include key information such as the following: Names of the buyer and seller. Contact details. A description of the item s being sold. The price of the item s. Methods of payment. Warranty details.

You should use a bill of sale for the following circumstances: You own property you would like to sell and need to have a record of the purchase detail for accounting records. Examples of property include a motor vehicle such as a car or other personal property, but not real estate. You plan to purchase a motor vehicle or other property from a private seller, and you want to record the proof of purchase and the details of your agreement in writing. A proof of purchase is required.

Many states will require a signed bill of sale in cases when you are transferring a title with a state's department of motor vehicles DMV or buying and selling branded livestock. Some transactions involve an exchange of property but do not require a bill of sale, including the following: Real estate. You can't use a bill of sale to transfer real estate between owners because real estate transactions are more complicated than the types of transactions listed above.

You will need additional forms from your state or local government, or a quit claim deed a legal instrument used to transfer interest in real property when you're dealing with a real estate transaction. Performance of services. A bill of sale transfers ownership, not services.

If you're providing or obtaining a service such as business consulting or babysitting, you should instead use a general contract for these services. If you own a business that receives payment for selling products, a general receipt is sufficient. Small-scale sales. Although deciding whether you want a bill of sale for inexpensive property is a matter of personal preference, many people don't feel that creating a bill of sale for less expensive items is necessary.