Gatech Resume Template – The bill of sale is a critical legal document because; it not only assists in protecting the interests of the seller but also that of the buyer as well. It is common and regrettably, a frequent occurrence where a seller or the buyer comes 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 purchase.
The bill of sale template should include each the basic details including personal information with regards to both the seller and the buyer. It should also clearly emphasize information and information regarding the asset and/or the house in question that is being offered for sale. Legally speaking, the buyer and the seller will have to offer all essential information.
Other Crucial Areas,Providing a thorough description of the house that’s available for sale is also a very important requirement. In case the property includes more than state 1 item and/or an attachment such as in the case of mechanical equipment, or perhaps a group of products or items, these too should be clearly recorded in the invoice of sale. These additional items which are to form a part of the sale have to be clearly itemized. By doing this will avoid any misunderstandings from arising and also remove any potential confusion occurring between both parties. Additionally, it’s a fantastic thing to include all of the details and information regarding the terms and conditions directly related to the sale of the house. However, if the sale of land was transacted based on a lien or mortgage or another 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 have to be kept shut in mind if you’re the seller, and before you actually go ahead and duly date and sign the document. Thus, it is essential that you make sure that the property and/or the motor vehicle, boat, equipment, etc., are without question, legally owned by you. Entering into a legal document and knowing 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 legislation. It is also sensible to have the invoice of sale witnessed by someone other than a friend or close relative.