A Bill of Sale is a legal document that serves as proof of the transfer of ownership of personal property from one person to another. In Virginia, this document is especially important for transactions involving vehicles, ensuring both parties acknowledge the sale and terms involved. A Bill of Sale with witness signatures may add an additional layer of verification, making it harder to dispute the transaction in the future.
Completing a Bill of Sale in Virginia requires careful attention to detail. Follow these steps:
The Bill of Sale is ideal for individuals engaged in private sales of personal property in Virginia, especially motor vehicles. This form is relevant for:
In Virginia, the Bill of Sale must meet certain legal requirements for it to be considered valid. These include:
It's advisable to check for any specific local rules or additional documentation that may be required when filing.
The process of notarization or witnessing for a Bill of Sale in Virginia involves certain steps that ensure the document's authenticity:
When completing a Bill of Sale, avoid the following mistakes to ensure the document is valid:
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Many sellers and buyers notarize the Bill of Sale. If the vehicle is 5 years old or less and the sales price is more than $1,500 below the Blue Book trade-in value, you'll need to fill out an Affidavit of Vehicle Purchase Price, form SUT 1A. This form must be notarized.
Bills of sale in Virginia, which can be drafted by hand if necessary, do not need to be notarized. However, each document should feature the following information in order to serve its purpose: The names, contact information, and signatures of the buyer and seller. A full description of the vehicle.
The bill of sale can be a handwritten statement signed by the seller and purchaser or a Vehicle Price Certification (Bill of Sale) (SUT 1) signed by the seller or purchaser. Vehicles that have been owned for 12 months or more do not need proof of the purchase price.
Unlike many other states, Virginia does not require a bill of sale to sell your car. That being said, a bill of sale is a legal record that proves the transaction was carried out. Therefore, it's suggested that a bill of sale is created for the benefit of both the buyer and the seller.
Bills of sale in Virginia, which can be drafted by hand if necessary, do not need to be notarized. However, each document should feature the following information in order to serve its purpose: The names, contact information, and signatures of the buyer and seller.