Bill Of Sale Templates to Make Your Transactions Legal:
Description: Do you wish to maintain a proof of the sales that was made recently, then bill of sale templates will help you in preparing this document easily.
A bill of sale is nothing, but a document that is used for recording the sale or purchase of personal property. Property here can be anything like a car, a computer or any other item for that matter. Regardless of whether you are a seller or a lucky buyer of such a property, this document will help to defend your official rights and responsibilities. This is done by giving the terms agreed upon in written form before actually the change of money from one hand to another takes place.
The task of preparing this document is made easier these days with the availability of bill of sale templates.
When to use the templates?
You can use such a template, when you own a vehicle or other property other than real estate property that you would like to sell. The template will make your work of preparing the bill of sale easier, which in turn will act as a proof of your sale. The templates can also be used when you are planning to buy a vehicle or other property other than real estate from a private individual. Even as a buyer, the document will act as a proof stating that the seller is no more the owner and you are the only owner of the property.
Basics of bill of sale:
When you are transferring some goods to a buyer, this can be the easiest form of document to make the transaction legal. But, you need not use this template for real estate sales or purchase and it should not be used for services rendered like babysitting, woodworking and business consulting as services generally come under contract. In addition, you need not use this document for small sales like transfer of a cheaper property.
Types of bill of sale:
For some items or class of property, you should be careful about selection of the appropriate bill of sale templates. For instance, there are different types of this document like car bill of sale, motorcycle bill of sale and boat bill of sale.
Benefits for sellers:
For sellers, this document can be helpful in the following ways:
- For taxes: When tax return is filed, a copy of bill of sale can be attached to specify that the ownership of a property is transferred.
- As-is: As it is a proof of transfer of ownership ‘as is’, you will never be responsible for any repairs or damages anymore.
- Transfer of ownership: As it can act as a proof of transfer of ownership, you will be benefited in some cases. For instance, if you have sold your pistol to another person and if some crime is committed after the date of sales specified in the document, you will stay protected from law for the crime as the ownership was already transferred.
In addition, when it comes to buyers, it is the document that clearly stands as the proof of their ownership of the property.