In America, if you want to buy any type of Vehicle, whether it is a car, bus, motor cycle, used car or truck, you will need a bill of sale. Bill of sale is needed to show that the person is legal owner of the vehicle. Even legal tax authorities or jurisdiction, demands bill of sale to determine the taxes.
The Vehicle Bill of Sale also provides the detail of the make, mileage, manufactured year and most importantly vehicle identification number. The federal law has also stipulated that such sale bill should show an Odometer Disclosure Statement for recording the exact mileage of the vehicle at the time of the sale or transfer of ownership.
A vehicle Bill of Sale can be termed as an agreement between the vehicle owner and the buyer, whereby the vehicle owner transfer the ownership to the buyer, with full responsibility of proving his ownership at the time of vehicle transfer or sale.
Why Vehicle Bill of Sale is essential?
Vehicle Bill of Sale is beneficial for both buyers and sellers, because through such sale bill, the seller and buyer can protect their rights and also helpful for tax and other accounting purposes. Such sale bill also makes the buyer legal owner of the vehicle and at the time of need he can prove his ownership, through this bill.
The basic feature of Vehicle Sale Bill includes
Below given Vehicle Sale Bill will assist you, when you sale your own vehicle:
Vehicle Sale Bill
I, (name:)_______________________________ of (address:)______________________________________________, hereby certify that I am the lawful owner of this vehicle:
and have the authority to sell it. I hereby acknowledge the receipt of $___________ in the form of _____________, from (Buyer’s name:)_______________________, as full payment for the purchase of the said vehicle, which is sold “AS IS”. I hereby state that the mileage of the vehicle at the time of sale is ______________.
I do hereby grant, sell and transfer full ownership of this vehicle to the buyer. I certify that this vehicle, at the time of sale, is free from all encumbrances, taxes, fees and liens except as those specified on the Title or listed below; and that, I (Seller) will defend and be held fully responsible for such lawful claims and demands with respect to the vehicle, if any.
Buyer accepts full liability for the vehicle, damages, and any third party liability incurred from the vehicle use from the date of sale.
If applicable, Seller agrees to make arrangements for the reasonable delivery of vehicle title from lien holder to buyer immediately.
Seller’s Signature Buyer’s Signature