Bills of sale

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Bills of sale: What is it?

What's a bill of sale?

Whether used for business or personal items, a bill of sale is an important tool to memorialize the sale of expensive or unique properties. You can use it to sell items ranging from motorcycles and boats, to animals like dogs and cats. A bill of sale not only details the terms of the transaction, it can also help establish the identity of the legal owner. For a business, a bill of sale may be required for tax reporting and general accounting purposes.

Some people call this a:

  • Proof of purchase
  • Proof of payment
  • As-is bill of sale
  • Proof of sale
  • Sales slip
  • Sales receipt
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So, what goes into a Bills of Sale:

  • Who the buyer is

    Have the name and contact info of the buyer ready.

  • Who the seller is

    Have the name and contact info of the seller ready.

  • What you're selling

    Have important details such as registration numbers, liens, and prices ready.

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Sample bills of sale

This bill of sale is between (the "Buyer"), of , , ,  and (the "Seller"), , , , .

The parties agree as follows:

1. SALE OF VEHICLE.

The Seller hereby sells to the Buyer and the Buyer purchases from the Seller, the following motorcycle (the "Motorcycle"):

  • Location: 
  • Make:
  • Model:
  • Motorcycle Engine No.:
  • Year:
  • Vehicle I.D. No. (VIN):

2. PURCHASE PRICE.

On or before the Delivery Date (as defined in section  67 below), in exchange for the sale of the Motorcycle, the Buyer shall pay the Seller the purchase price of $ (the "Purchase Price").

3. SELLER'S REPRESENTATIONS.

The Seller represents to the Buyer that:

  • (a) the Seller has good and marketable title to the Motorcycle, with full authority to enter into the transactions contemplated by this bill of sale and to sell the Motorcycle in accordance with this bill of sale;
  • (b) the Motorcycle is free of all encumbrances, liabilities, and adverse claims;, except held by , and held by , and held by , and held by , and held by ;
  • (c) the Seller will fully indemnify the Buyer from any lawful adverse claim to the Motorcycle; and except for any claim of   or   or   or   or named in (b) above; and
  • (d) to the best of the Seller's knowledge, the information disclosed in this bill of sale about the Motorcycle and its title are correct in all material respects.

4. BUYER'S REPRESENTATIONS.
The individual signing this agreement on behalf of the Buyer represents to the Seller that he or she has the power and authority to complete this transaction on behalf of the Buyer.

45. NO OTHER REPRESENTATIONS.

Except for the representations provided in section 3, the Buyer acknowledges that the Motorcycle is being sold "as is," without warranty, whether express or implied, about the condition of the Motorcycle. The Buyer must satisfy itself as to what is offered for sale, and by purchasing will be held to have satisfied itself that the Motorcycle is satisfactory in all respects. All defects and repairs are the sole responsibility of the Buyer. The Seller neither assumes, nor authorizes any other person or entity to assume on its behalf, any liability in connection with the sale of the Motorcycle. The Seller's disclaimers of warranty do not affect the terms or applicability of any warranty from the Motorcycle's manufacturer that may be applicable to the Motorcycle.

56. INSPECTION.  

The Motorcycle has not been inspected by an independent and licensed mechanic within the last month. A copy of that inspection report is attached to this bill of sale.

To the best of its knowledge, the Seller believes that the Motorcycle is being sold in good operating condition, except for the following defects: .

 67. DELIVERY OF MOTORCYCLE. 

The Seller shall deliver the Motorcycle, and the Buyer shall take possession of the Motorcycle, at the Seller's address as listed above, on or before  (the "Delivery Date"). The Seller shall ensure that the Motorcycle is delivered in the same condition as the Buyer's last inspection (or, if no inspection was conducted, as of the effective date of this bill of sale). The Buyer, either itself or through a third party, shall appear at the Seller's address during standard business hours on the Delivery Date to remove the Motorcycle. If the Buyer does not appear at the Seller's address on the Delivery Date to remove the Motorcycle, the risk of loss of the Motorcycle passes to the Buyer.

 7 8. CONVEYANCE OF TITLE.

The Seller shall convey title to the Motorcycle to the Buyer when the Motorcycle is delivered to the Buyer and the Purchase Price has been paid in full. The Seller shall execute all documents presented by the Buyer that are necessary to finalize transfer of title and registration of the Motorcycle to the Buyer.

89. CANCELLATION OF INSURANCE AND TAGS.

Unless prohibited by applicable law, the Buyer will cancel any insurance coverage, license, tags, plates, or registration maintained by the Seller on the Motorcycle when the Buyer takes possession of the Motorcycle.

910. EFFECTIVENESS.

This bill of sale will become effective when all parties have signed it. The date this bill of sale is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this bill of sale.


1011 . ADDITIONAL TERMS OF SALE.

[SIGNATURE PAGE FOLLOWS]

Each party is signing this bill of sale on the date stated opposite that party's signature.  



Date: _________________


By:__________________________________________
Name:
Title: Phone No.: 




Date: _________________


By:__________________________________________
Name:
Title: Phone No.: 


Witnessed By:____________________________________________
ACKNOWLEDGEMENT 

Date:_____________________
OF NOTARY PUBLIC
Name:___________________________________________________


Address:_________________________________________________ 
STATE OF __________________________


COUNTY OF ________________________

Subscribed and sworn to before me this __________day of ____________, 20_____, at ___________, __________________.
_________________________________________
Signature of Notary Public
Name of Notary Public:  ____________________________ (SEAL)
Notary Public, State of ______________________________
My commission expires:  ___________________________

[PAGE BREAK HERE]

ODOMETER DISCLOSURE STATEMENT

Federal law (and state law, if applicable) requires that you state the mileage on transfer of ownership. Failure to complete or providing a false statement may result in fines and/or imprisonment.

The Seller hereby discloses to the Buyer that at the time of the transfer, the odometer read miles.  To the best of the Seller's knowledge, that odometer reading reflects the actual mileage of the Vehicle. 

The odometer reading reflects the amount of mileage in excess of its mechanical limits.I hereby certify that the odometer reading is NOT the actual mileage. WARNING: ODOMETER DISCREPANCY

  • Make: 
  • Model: 
  • Motorcycle Engine No.:
  • Year: 
  • Vehicle I.D. No. (VIN): 
Seller's Information: Buyer's Information:

Name:

Name: 
Address:  Address: 
City:  City: 
State:  State: 
ZIP Code:  ZIP Code: 

Signatures:


_______________________________________________


_______________________________________________
Seller Date


_______________________________________________


_______________________________________________
Buyer Date
Witnessed By:____________________________________________ Date:_____________________

Name:__________________________________________________

Address:________________________________________________