When you go a store to buy a car, one of the documents that you need to arrange immediately is a bill of sale. The Bill of Sale or BOS functions as a legal document which is meant to serve as the proof of the transaction involving the sale of a car or vehicle. The various details related to the ownership transfer of the car are clearly stated in the bill of sale for vehicle document. It is a legally valid document describing the exchange of the property from one hand to another. The Bill of Sale document can not only be used for transferring the rights of a car but also other items such as boats, aircrafts, trucks and all other kinds of vehicles and assets. If you are planning on buying a car in Arizona, then it is very important that you arrange for a bill of sale to document the transaction that you partake in.
Importance of the Bill of Sale
It is important to note that the bill of sale is different from a sales receipt or an invoice. The Bill of Sale works as a legal document that protects the buyer as well as the seller from any possibility of theft, fraud or other critical issues. With the bill of sale it is possible to have complete validity of purchase which means that the transaction has the legal stamp of being genuine.
Details included in the Bill of Sale
Here is a look at the main details that make up the Bill of Sale document.
- The names, addresses and the contact information of the seller and the buyer of the vehicle
- The date in which the transaction is being carried out
- The consideration of the purchase
- The day and date of the payment
- The terms and conditions of sale/purchase
- Type of transaction carried out, i.e. cash sale/gifting/trade
- Warranty information in case it is available
- The disclosure of the seller, if any
- The description and details of the specific named item
- Dated signatures of both the seller and the buyer in case it is needed
- Acknowledgment by a notary public when it becomes necessary for registering the item
Why get the bill of sale document
If you do not have the bill of sale in Arizona, you may find yourself embroiled in a serious legal problem that can be very difficult to get out of. The bill of sale document proves that you are the legal owner of the car or the vehicle that you purchase. If you do not have the document in your hand, someone may accuse you that you have stolen the vehicle and you will have nothing to refute that claim. This is why it is so very important to get the bill of sale document in Arizona.
Getting a bill of sale document in Arizona
Once you have decided that you are going to get a vehicle for your personal or business use, it is important that you arrange for the bill of sale document. A leading online website that offers different legal forms can help you to get the bill of sale form. You can print, download or copy the BOS form and then have it filled up for your personal use.
