A bill of sale is a legal document that a seller fills out and signs and gives to the buyer. A bill of sale is typically exchanged during the sale of a vehicle or other item and provides proof that there was a sale.
How to Write a Bill of Sale in Texas?
As a seller, you should write a bill of sale for your buyer. A basic bill of sale form starts off by saying "I, (name) of (county and state), am selling (what you're selling here) for (price) to (buyer name). Next, you should include the date the bill of sale is acknowledged. Also, include the year, make, body style, vehicle identification number, and any other information that you find relevant. Be sure to sign and date at the end. Whether this bill of sale is for a vehicle, mobile home or boat they should all follow the same format for a bill of sale.
Is a Bill of Sale a Legal Document?
A bill of sale is meant to act as a contract for a purchase between a seller and buyer. In many cases, this bill of sale is a legally binding contract between seller and buyer if the bill of sale follows the guidelines that are required in the state where the transfer or sale takes place. As long as the name and address of the seller and buyer, description of the vehicle, odometer reading, date and vehicle identification number are listed, it's considered a legal document.
Bill of Sale For a Boat
If you sell a boat, you will need to provide a bill of sale form or fill out a bill of sale template for your buyer. The same information will need to be provided as for the sale of a car. A boat title still needs to be transferred to the new owner, so a bill of sale is required. If you get a vehicle bill of sale form from your local Department of Motor Vehicles, don't forget to include that it's a boat and not a regular vehicle.
Is a Receipt the Same as a Bill of Sale?
A retail purchase receipt can be used as a bill of sale as long as it has the specific goods in detail. If you provide a letter that only says "paid," it doesn't give enough information to be considered a true bill of sale. If you are at all confused on the difference of a bill of sale, it's a good idea to seek a lawyer's help or go to your local Department of Motor Vehicles for advice. It's best to make sure you fill it out accurately than have problems down the road.
Heather Burdo has been personally involved in business for six years. Her passion is to help small business owners and entrepreneurs through engaging and insightful content.