Free Bill Of Sale Forms Pdf Word Eforms Free Fillable Forms intended for measurements 791 X 1024Bill Of Sale For Motor Vehicle Template – The bill of sale is a critical legal document because; it not only assists in safeguarding the interests of the vendor but also the buyer as well. It is common and sadly, a common occurrence where a vendor or the buyer arrives to strive because of deliberate fraud in a sale transaction. This is especially so when”no bill of sale” document was used at the point of sale.
The bill of sale template should include each of the basic details such as personal information with respect to both the vendor and the buyer. It should also clearly highlight information and details concerning the asset and/or the house in question that’s being offered for sale. Legally speaking, the buyer and the vendor will need to offer all essential information. For instance: their name(s), street addresses and current contact numbers.
Other Crucial Areas,Providing a detailed description of this house that is being offered for sale is also a vital requirement. In case the property includes more than say 1 item and/or an attachment such as in the event of mechanical equipment, or perhaps a group of items or products, these also should be clearly documented in the bill of sale. These extra items that are to form a part of the sale need to be clearly itemized. By doing so will avoid any misunderstandings from arising and also eliminate any possible confusion occurring between both parties. Additionally, it’s a good thing to include all of the details and information concerning the terms and conditions directly relating to the selling of the house. However, if the selling of land was transacted dependent on a lien or mortgage or any other authority transfer, then it could be necessary to specify and deal with these problems as well in the document.
Equally as important, are many different issues which need to be kept shut in mind if you are the vendor, and before you actually go ahead and duly date and sign the document. Remember that the agreement is a binding legal document. Thus, it is vital for you to ensure that the property and/or the motor vehicle, ship, equipment, etc., are without question, legally possessed by you. Entering into a legal document and understanding that it incurs a lien and/or an outstanding mortgage (and not revealing this information to the buyer in the record ) is illegal and carries severe penalties under law. It’s also sensible to have the bill of sale seen by someone aside from a friend or close relative.
