Free Bill of Sale Templates

by ryan on March 7, 2017




Sponsored

Free Bill of Sale Template

 

Download any of our bill of sale templates today, free of charge. A bill of sale template is a formal sales receipt or a binding legal document which is used for legally transferring the rights and title of assets from old ownership to new ownership through a mutual and willing agreement.

All Free Bill of Sale Templates can be downloaded immediately.

Bill-of-Sale--sample-template

A bill of sale is different from a traditional sales receipt in the sense that it is legal in nature and possesses legal overtones absent in a conventional sales receipt. The laws of many states usually require the use of a bill of sale template when an automobile, motorcycle, boat, gun, horse,
business or other types of property are being sold to a new owner.

You are advised to check out your state and city laws and requirements before conducting any of the transactions described above.

Purposes of a Bill of Sale Template

Legal transactions for the purchase or sale of assets can be conducted with the help of a bill of sale that has been properly drafted.

It doesn’t matter if you are selling or purchasing pets, horses, household appliances, musical instruments, sporting equipment, computers, guns, pistols, tools, equipment, trucks, RVs, motorcycles, cars, mobile homes or boats. You should always use a valid bill of sale to complete these types of transactions, transfer the rights of ownership, and to protect yourself.

Some of the information found on a bill of sale template is common, regardless of the nature of the asset in question. Information common to all bill of sale templates are warranties, selling price, condition, description of the asset, item, or property that is on sale. The legal names of customer and seller, their permanent physical addresses, and other identifying data. It should also mention that the owner has the legal right to transfer ownership of what is being sold.

Templates:

new-Blank-Bill-of-Sale-template

pdf-free-blank-vehicle-bill-of-sale

Bill-of-Sale--sample-template

car-bill-of-sale-template

Why is a Bill of Sale Template necessary?

There are many dishonest people who unscrupulously sell off assets to make some money even if they are not the legal owner of the assets being sold. A properly drafted legal document such as a bill of sale helps prevent such illegal transactions from taking place as well as reducing the risks of fraudulent sale. It also minimizes the potential of unscrupulous people seizing somebody else’s property illegally.

The basic format of the current bill of sale template dates back to the Victorian age and this mandatory legal document was created and used for prevention of misuse of assets such as land and property or abuse of existing property laws.

Legal professionals always advise prospective buyers to check if the seller of the expensive asset you are going to purchase is indeed the actual owner of that asset and not a guardian with a power of attorney to sell that property. If this is the case, and the asset involves the transaction of a good sum of money, you should verify with the actual owner that a valid power of attorney was issued to the seller. You should also check for liens or property disputes by contacting the state or local offices for further information.

Seller’s Original Bill of Sale

You can request that the seller of the asset you are going to purchase provide you with the original bill of sale. If the seller fails to provide it, it might be a fraudulent transaction and the seller does not possess the legal right for sale. And if you are provided with a fake bill of sale template, you can sue the seller for illegal and unauthorized transaction.

However, there are ways to prevent the creation of fake or fraudulent bill of sale templates. Many of the state laws require notarization of a bill of sale template to transform it into a binding, legal document. And the notarization has to take place in front of witnesses to help prevent fraudulent practices. You are advised to consult an attorney about this matter before purchasing substantial amounts of assets of any kind.

Using a Bill of Sale for Auction Purchases

You are much safer if you are issued a legal bill of sale template when purchasing goods from auction houses. Even then, when public auctions take place, goods that will be auctioned off will also be advertised well in advance. You should utilize this opportunity to investigate the reputation and background of the company running this auction house. It is also necessary to check if the auction house has the legal permission to sell the goods.

Bill of Sale Template for IRS Requirements

When you purchase a very expensive vehicle, property, asset, or receive inheritance assets, you will have to provide an attorney drafted bill of sale template to the IRS for their auditing purposes. This is mandatory from the IRS’ point of view for all kinds of large donations and transactions.

The information given above is for general understanding only and should not be deemed as legal advice. Questions regarding our bill of sale template should be discussed with and attorney in your own state.




Sponsored

Previous post:

Next post: