Mississippi Bill of Sale
Description
How to fill out Mississippi Bill Of Sale?
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FAQ
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.
A California Bill of Sale must include both a buyer's and a seller's disclosure. They must be read. If the parties agree to the sale, the document must be signed, witnessed, and notarized. The date of the signatures should also be listed.
When selling a car privately in Mississippi, the buyer and the seller both need to fill out the relevant sections on the back of the title. This information includes the legal name, address, and signature of the buyer and the seller(s) along with the date of the sale, the odometer reading, and the purchase price.
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.
After both parties sign the bill of sale, make a copy or take a picture of it. The buyer should keep the original bill of sale.
A Mississippi bill of sale is only required to register a vehicle if you purchased the vehicle from an out of state dealer. If you purchase the car from another individual, you'll need the title.
Have both parties sign it, create a copy, and then send the bill of sale to the DMV. If anything happens and the buyer fails to register the car, you'll have the proof needed to say the car's ownership has been transferred and it is no longer in your name.
The bill of sale, as a rule, is drafted by the seller and includes the details of the transaction. It protects both the buyer and the seller, should disagreements arise in the future.
Although not required for most vehicle sales and transactions, the State of Mississippi requires a Bill of Sale form for certain sales. The State of Mississippi does not offer a state-wide approved Bill of Sale. For your vehicle sale, the state asks that perform a title transfer to the new buyer.
