Redline Illinois Bill of Sale with airSlate SignNow

Louisiana automobile bill of sale fillable form

so what is a bill of sale for a vehicle hello this is dave at Title VII comm and a lot of times the idea of a bill of sale comes up at the time of transfer or registration so let's describe what a good bill sale is what it's used for and also what it doesn't do first of all bill sale is not a legal ownership record that is the actual title so make sure if you're buying a vehicle that you actually have the title in addition to the bill of sale the title is what shows ownership the bill sale is just evidence of a transaction between two people that occurred separate from the legal ownership it does not document that the prior owner was legally entitled so if you have a bill of sale from you know John Smith that transfers you a car there's no proof that John Smith had ownership of that car to give to you unless he also has the title to go with it um again the title by itself isn't any good to you either because if somebody just hands you the title it doesn't prove that they actually sold you the car so have a title and a bill of sale get it notarized if possible the notary and the bill sale will prove that that person actually signed it some states require it you don't want to find out later that you needed that notarization even if you're not registering the car yet get the title in your name if you have that bill of sale entitle transfer it over so that way it's secured in your name on the bill of sale make sure that there's at least four or five piece information that you get you have the sellers name that's transferring it to you you have your name as the buyer you have a dollar amount that the vehicle sold for a lot of times people put down just one dollar to try to save on taxes it may not be that great of a strategy because the state's just going to use the book value anyways so put down the actual amount and so that way it doesn't look like you're trying this to get over on sales taxes because if you do that the state makes scrutinise things a little more severely so that make sure that you have that bill of sale with the by ourselves name the dollar amount the date that the transaction occurred make sure there's the signature of the seller at least a notary if possible and if the is a different type of payment make sure you write down the type of payment was a paid by cash buy check a credit card PayPal whatever it was make sure that information is on there so you can prove that payment was made when that vehicle is transferred remember that if you have a vehicle a towing company a DMV insurance company anybody even needs to know about your vehicle is not going to take that bill of sale by itself they're going to want to know that the title also transferred with the bill of sale bill sales kind of like a receipt so if you just have a receipt without proof of ownership you may not be able to do all the things you need to do with that vehicle if you have more questions about bill sales and how to use it in vehicle titling you can reach us at our website cartitles.com and we divide that