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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.

In order to prove ownership, the bill of sale was developed to confirm that a seller did indeed transfer ownership of their property to the buyer. The bill of sale records all of the specific information regarding the transfer of the property including:the amount of compensation the buyer paid for the property.

A bill of sale refers to a legally binding document which confirms that you actually bought that vehicle from a private entity or party.The bill of sale is not a form of title, but you could use it to obtain the vehicle's title from the DMV.

A bill of sale means nothing when selling a road vehicle, without a title it's worthless and not legally your property.

A bill of sale is more akin to a receipt rather than a contract. Since it is such a simple document, there is no way to truly enforce it.

A bill of sale is not required in all states.The bill of sale confirms a title transfer and serves as evidence of a contract. If a state requires a bill of sale, it must be completed even if the vehicle is a gift. The bill of sale may be required to register the vehicle and calculate sales tax owed by the recipient.

When writing a bill of sale, be sure to include: The seller's name and address. The buyer's name and address. A description of the item being sold, including serial numbers, identification numbers, make, model, size, color, design, any distinguishing marks, features or faults source: Cooper.