A Bill Of Sale Legal Form Is Extremely Helpful And Easy To Find

A bill of sale legal form is a contractually binding document that expedites the transfer a piece of property in exchange for money between a seller and a buyer. The money can take the form of personal check, cash, credit or debit card transaction, promissory note, money order or certified check. The bill of sale legal form outlines the particulars of the transaction between the buyer and the seller, including the date and time of the exchange, the product being negotiated for, the agreed upon selling price, applicable sales tax, relevant warranty and return information and other terms and conditions surrounding the transaction.

Most importantly, a bill of sale legal form will include signatures or stamps from the buyer and seller signifying their agreement with the contents of the bill of sale legal document. At the conclusion of the transaction, the buyer and seller both receive a copy of the bill of sale legal form for their own records. A mutually signed copy of the bill of sale can protect the seller in the event of a lawsuit or alleged breach of contract by the buyer at some future date.

The reverse is also true – a buyer can use the bill of sale legal form to purport an alleged violation of intent of the transaction. For example, a buyer purchases a rare Mickey Mantle baseball card from a collector (the seller) on the collector’s word that the card is an original. Six months later, the buyer might have his growing card collection assessed for value by an independent third party only to find out that the Mantle card is a fake or otherwise unauthentic. At this point, a signed bill of sale legal form with the original seller can serve as the linchpin of a breach of contract lawsuit by the buyer. However, if the original bill of sale legal form does not state specifically the claim by the seller that the card is an original, the buyer may have a very hard time proving his case without any legal forms.

As the old saying goes, “put it in writing!”

It is a good idea to write up a bill of sale legal form whenever you are thinking of selling any valuable or governmentally regulated piece of personal property. Examples may include cars, boats, furniture, jewelry, pieces of art and collectible memorabilia, firearms and ammunition. Bill of sale legal documents can be downloaded and printed online. As well, buyers and sellers can produce handwritten copies. For added protection, buyers and sellers sometimes have the bill of sale legal form notarized by a public notary in their state. Moreover, the sell and transfer of firearms and ammunition across state lines is regulated by applicable Federal laws, so it is important to clarify rules and regulations before entering into this type of bill of sale legal form agreement.