Looking for Automobile Bill Of Sale Template Word?
Automobile bill for sale is basically a document stating a transaction happened between the two parties. For the seller, the bill offers information regarding the date of sales and the details of the buyer. For the buyer, the bill gives necessary information regarding the vehicle that he/she can verify against a Vehicle History Report.
However, it is to be noted that this bill is not a conclusive proof of the ownership; for that one would need the title transfer.
Generally, the automobile bill of sale features the type of the vehicle, and certain information including the year of manufacture, model number, company, vehicle identification number, odometer reading, etc. They also include name, address and signature of buyer and seller along with date and purchase price.
The Importance of Automobile bill of sale template word
Irrespective of the countries or state’s legal formalities the automobile bill of sale is an essential document that shows the transaction record which will benefit both the buyer as well as the seller.
Generally, it is the seller who is responsible for giving the bill of sale, but it is recommended that the buyers also get one for additional security. An automobile bill of sale isn’t just a document that serves as a record of the transaction, but the information mentioned in the bill make the registration process easier when you purchase a new vehicle.
Is this Template Necessary?
While some states entail that the seller sign, date, and even notarize the bill when transferring the paper work, some states have no such requirements. Whether the law asks for it or not automobile bill of sale is an important document, particularly when you are a seller.
The bill verifies that you have sold the vehicle and now share no responsibility towards it. No matter whether you are a seller or a buyer you should never forget to get the copy of automobile bill of sale.