District of Columbia Assignment of Personal Property with Reference to Former Bill of Sale

State:
Multi-State
Control #:
US-00637BG
Format:
Word; 
Rich Text
Instant download

Description

An assignment is a transfer of rights that a party has under a contract to another person. Transfer of title can also be made by a Bill of Sale. This document assigns rights in personal property to another by referring to the Bill of Sale by which the assigning party gained title to the personal property.

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FAQ

When you buy or sell a vehicle in Washington D.C., you should complete a Bill of Sale for your safety. This serves as a legal receipt from the buyer to the seller documenting both the change in ownership and the purchase price.

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.

When you sell a vehicle in the District:Remove your license tags from the vehicle and return them to DC DMV either in person or by mail.Surrender Tags.Provide the new owner with the properly signed title.More items...

Individuals, corporations, partnerships, executors, administrators, guardians, receivers, and trustees that own or hold personal property in trust in the District of Columbia must file a DC personal property tax return.

An individual may transfer property to one or more beneficiaries effective at the transferor's death by a transfer on death deed. (Mar. 19, 2013, D.C. Law 19-230, § 2(b), 59 DCR 13606.)

In D.C., you can make a living trust to avoid probate for virtually any asset you ownreal estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will) naming someone to take over as trustee after your death (called a successor trustee).

Meaning of deed of assignment in Englisha legal agreement to give an asset or to sell a debt to someone else: This deed of assignment enables ownership of a life-insurance policy to be transferred from the current owner to another person or organization.

The Washington transfer-on-death deed form allows property to be automatically transferred to a new owner when the current owner dies, without the need to go through probate. It also gives the current owner retained control over the property, including the right to change his or her mind about the transfer.

Information and Notarization Requirements Motor vehicle bills of sale in the District of Columbia do not need to be notarized or witnessed, as they are not legally required. In addition to the pre-printed forms, you may draft your own.

You will need a notary, witnessing both the buyer(s) and seller(s) signatures, if you present a bill of sale to complete your transaction.

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District of Columbia Assignment of Personal Property with Reference to Former Bill of Sale