Business Sale

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.

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.

Both the buyer and seller should receive copies of the bill of sale form. It's important for the buyer to keep the bill of sale with the title of the vehicle for registration and licensing purposes, if necessary. However, all parties should keep them for their own personal records.

A California Bill of Sale must include both a buyer's and a seller's disclosure.If the parties agree to the sale, the document must be signed, witnessed, and notarized. The date of the signatures should also be listed. The names of the parties and the witnesses must be printed by their signatures.

For example, many states require that a vehicle bill of sale include an odometer reading; some states require it to be notarized. Both parties can sign a bill of sale but, in many instances, only the seller needs to sign it. Things can get complicated when a bill of sale is provided as security for a loan.

If there are 2 owners listed on the front of a title, the majority of the time, both people will need to sign as the seller. If there is an 'or' in between the names, typically only 1 signature is required.

You should not sign anything before you get your money. If the buyer says the buyer would be back later with your money and you sign the title over to the buyer, you likely will never see your money...

About the California Bill of Sale. A bill of sale is used when cars are sold in a private sale. It's a document that serves as proof of a transaction, and it's beneficial to both the seller and the buyer of a vehicle.You'll need a bill of sale to re-register and transfer the title of the car.

A bill of sale is a legal document that records the transfer of ownership of an asset to a second party in exchange for money.It protects both the buyer and the seller, should disagreements arise in the future.