A bill of sale form is a document used to record the details of the sale of an item. Bill of sale forms can vary based on the type of item sold, including for the sale of automobiles and boats, among other things. Many websites will offer free standard bill of sale forms which can be downloaded, printed and filled in with the details of the specific transaction. The bill of sale protects both the buyer and seller should an issue arise after the sale.http://www.lectlaw.com/forms/f123.htm
Standard bill of sale forms will include basic information about the buyer and seller, such as names, addresses and phone numbers, as well as details about the item being sold including a description, current condition and sale price. The bill of sale will also outline any terms of the sale, such as an item being sold as-is or any warranty included in the purchase. Each party generally signs and dates the document, providing both the buyer and seller a copy of the bill of sale for their records.http://www.lectlaw.com/forms/f123.htm
A bill of sale may also operate on a conditional basis, requiring one party to deliver additional compensation or goods at a later time. Should this be the case, the details of what is expected from each party will be outlined on the document as well.http://www.lawdepot.com/contracts/bill-of-sale/?a=t&
Each bill of sale form will vary based on the specific item sold. An auto bill of sale or boat bill of sale will include specific information about the car or boat including the make, model, year and condition. Other bill of sale forms, such as those for electronics, appliances or tools can be simpler, noting the model and brief description of the item.http://www.lawdepot.com/contracts/bill-of-sale/?a=t& A bill of sale form can also commonly be used in the sale of animals, noting the age, name, breed, color and other descriptive details of the animal being bought or sold.http://www.toydogs.com/About_Us/Legalese/Bill_of_Sale/bill_of_sale.htm
Using a Bill of Sale
In this short video, Liz Loadholt explains situations where a bill of sale should be used to document a sale or transaction. Loadholt uses an example of real estate, citing a situation where a selling price may be agreed upon then one party may want to change the price or terms of the deal. A bill of sale will protect both parties in these cases.
