This forms package contains a Bill of Sale, Odometer Statement and Promissory Note. It is for the situation where the Buyer may be making a downpayment and paying the balance over time.
Chicago Illinois Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note
State:
Illinois
City:
Chicago
Control #:
IL-00431-C
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Illinois Bill Of Sale For Automobile Or Vehicle Including Odometer Statement And Promissory Note?
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FAQ
Does an Illinois Bill of Sale Have to Be Notarized? Bills of sale do not require notarization in the state of Illinois, but it is always an option.
A bill of sale should include the name, address, and driver's license numbers of both the buyer and the seller, along with the signatures of both parties. This document should also include essential information about the vehicle, including the make, model, year, VIN, color, and current mileage at the time of sale.
It is important to make sure all the requirements for the respected state law are included in the bill of sale. As, with any legal written document a bill of sale can be handwritten.
A bill of sale transfers ownership from seller to buyer. A promissory note is a promise to pay. So a bill of sale for an automobile with a promissory note is what you might expect from the (very long) name: A certification someone has bought, and promises to pay for, your car.
A Bill of Sale acts as a sales contract documenting the sale of the vehicle. It should identify the vehicle's make, model, year, body type, color, VIN, purchase price, and date of sale. It should also name the seller and buyer, and include their addresses. It should be signed by both seller and buyer.