Is bill of sale required in California?

While a bill of sale is not a legal requirement in California, it's a good idea to have one if you sell or purchase a vehicle. There is no specific form required, but the California Department of Motor Vehicles (DMV) has a bill of sale form.

Who keeps the original bill of sale?

The buyer should keep the original bill of sale.

What should be included in a bill of sale?

A bill of sale should, at a minimum, include information identifying the parties to the transaction (the buyer and seller), the total purchase price, and a specific description of the item that was sold.

Is a warranty deed the same as a bill of sale?

A deed is not a bill of sale. Rather, it conveys what is legally included in the sale. This includes legal details and property specifications. It also usually includes information such as property lines, square footage, landmarks, and additional buildings.

Is a bill of sale the same as a receipt?

Similar to a receipt, a bill of sale is a written instrument that attests to a buyer's purchase of property from a seller.In other words, receipts are not bills of sale but a bill of sale may serve as a receipt.

Does the seller keep the bill of sale?

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.

California Bill of Sale with Warranty for Corporate Seller

Name: California Bill of Sale with Warranty for Corporate Seller
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.76 (215 reviews)

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Description

This Bill of Sale with Warranty for Corporate Seller is a Bill of Sale with an appropriate state specific Acknowledgment by Corporate Seller.This is a Warranty Conveyance as opposed to a Quitclaim Conveyance. This form complies with all applicable state statutory laws.

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FAQ

A warranty bill of sale offers protections for the buyer that a simple receipt does not. This kind of bill of sale clearly details what is being sold and gives a guarantee to the buyer about the seller's ownership rights. The bill of sale promises that the buyer holds full and clear title to the item sold.

When land, houses, apartments, and other forms of real estate are sold or leased, the real estate usually comes with at least one warranty. In a sale of realty, the seller usually includes a warranty regarding the title to the property.This means that some party other than the seller has a claim to the property.

A bill of sale is good for a buyer because it documents the condition of the car at the time you bought it; this way if you later find that there are damages that the seller never told you about, you have proof. Having a bill of sale also protects you in the event that the seller denies having sold the car to you.