While having a Bill of Sale is not a legal condition for carrying out the transaction, it is still recommended to have it drawn up so that the person buying the car has complete information about the vehicle and has a legal document to prove the ownership.Ī vehicle bill of sale template is a kind of ready-made legal document where you would simply have to fill in blanks to describe the vehicle and other details of the arrangement. One of the most common areas where Bill of Sale is drawn up on a regular basis is during sale and purchase of vehicles. Why do you need a Vehicle Bill of Sale Template? Bill of Sale will also contain the names of both the parties i.e. In fact, any minor detail connected with the vehicle such as insurance, warranty, whether there is the unpaid loan against it, etc. The Massachusetts bill of sale forms are written contracts that illustrates a purchase and sale agreement of an item between a buyer and seller for a all-terrain vehicle (ATV), motor vehicle, snowmobile, or vessel.Once the agreement has been written and signed by all parties it is considered legally binding. For example, a vehicle bill of sale will contain information about the year of make, model, color, mileage, etc.
For example, if you enter into a sale contract to buy a vehicle, a bill of sale can be drawn up which will record that the ownership of the vehicle is passed on to you in exchange for consideration.īill of sale contains information about the asset that is being sold or purchased. A bill of sale simply means a legal document which records the sale and purchase of a personal asset such as a vehicle.