Free Oklahoma Dps Motor Vehicle Bill Of Sale Form Pdf Word Doc with measurements 878 X 1226Auto Bill Of Sale Oklahoma Template – The bill of sale is a critical legal record because; it not only assists in protecting the interests of the seller but also that of the buyer too. It is common and regrettably, a frequent occurrence by which 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” record was used at the point of sale.
The bill of sale template should include all the basic details such as private information with respect to both the seller and the buyer. It should also clearly highlight information and information regarding the asset and/or the property in question that is being offered for sale. Legally speaking, the buyer and the seller will need to offer all essential information.
Other Vital Areas,Providing a detailed description of this property that is being offered for sale is also a vital requirement. In case the property comprises more than say one item and/or an attachment like in the case of mechanical equipment, or possibly a group of products or items, these also should be clearly documented in the bill of sale. These extra items which are to form a part of the sale need to be clearly itemized. By doing this will avoid any misunderstandings from arising and remove any potential confusion occurring between both parties. Additionally, it is a good thing to include all of the details and information concerning the terms and conditions directly relating to the sale of the property. However, if the sale of land was transacted dependent on a lien or mortgage or any other authority transfer, then it may be necessary to specify and address these problems too in the record.
Equally as significant, are many different issues which need to be kept shut in your mind if you are the seller, and before you actually go ahead and duly date and sign the record. So, it’s essential for you to ensure that the property and/or the motor vehicle, ship, equipment, etc., are without question, legally possessed by you. Entering to a legal record and understanding that it incurs a lien and/or an outstanding mortgage (rather than disclosing this information to the buyer in the document) 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.
