Bill Sale Statement

A bill of sale does not serve as proof of ownership. Only a title has that legal authority. Bills of sale serve as proof of title transfer, which buyers and sellers need for personal financial and tax records.

Title Jumping - Dangers to sellersSellers who do not transfer the title into their name before selling a vehicle technically are not the legal owner of the vehicle. Risks include penalties, fines, and/or jail time.

Generally, a bill of sale does not have to be recorded but may be required as proof of ownership. Who must sign a bill of sale? The owners of the property being sold must sign. If the property is owned jointly, both owners must generally sign.

Obtain a replacement title form from the nearest Ohio Department of Public Safety, or print one from their website. Transport the motorcycle to the State Patrol office and ask to have the VIN verified by a trooper, and show your bill of sale.

In the state of Ohio when you sell or buy a vehicle, complete a Bill of Sale Form though it is not required. This serves as a legal contract from the seller to the buyer documenting the change in ownership and the purchase price.

The date of the sale. A description of the car, including its: Year, make and model. The selling price of the car. If the car is a gift or partial gift, you should still create a bill of sale. Warranty information. The full names, addresses and signatures of the buyer and seller.

On the back of the title is a transfer area that they can use to transfer the title to you. Once the previous owner has transferred the title to you, take it to the local office for your state's department of motor vehicles to apply for a new title in your name. The new title will be your proof of ownership.

A valid and current proof of identification. Current maintenance records and emission report. The vehicle's title (signed in front of a notary) Lien Release, if liens are shown on the vehicle title. Odometer Disclosure Statement, form BMV 3724.

In simple terms, a bill of sale agreement is nothing more than a contract for the purchase of a vehicle between a buyer and a seller.In most cases, the contract is legally binding between buyer and seller as long as the bill of sale follows guidelines required in the state where the sale or transfer takes place.