That typically means the full legal name and address of both buyer and seller and any data that distinguishes the item itself.įor example, an auto bill of sale usually includes the make, model, and year of the car in addition to its identification number and odometer reading. Bill of Sale InformationĪ bill of sale includes any of the information that might be needed to identify the item being sold, the identity of the buyer, and the identity of the seller. If there’s any chance that a buyer or seller might question the validity of the sale, a bill of sale can serve as a safeguard. That said, you can use a bill of sale any time a buyer or seller requests one, even if the item has a lower value. It very rarely spans more than one page, and half a page is more common.īills of sale are most often used to document sales of high-value items like cars, boats, or firearms.
The document itself is relatively simple, laying out the basic information about the transaction and participants. To document the terms of the contract of sale.To confirm who now has ownership of the item.A bill of sale is a legal document that proves a transaction has taken place.
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