Instructions For Using "Bill of Sale"
- In most states, a simple Bill of Sale need not be notarized nor witnessed! However,
for motor vehicles, frequently an oath before a notary public is needed, but this
is generally provided for on the vehicle title.
The Bills are to be used for "personality i.e. any property not "real property".
A deed form would be used for transfers of land. Deeds vary so much from state that
no explanation will be attempted here. However, members of the Patriot Network may
call Robert Clarkson at (864)225-3061 for assistance.
- A Bill of Sale is any written statement:
- Signed by Seller
- Listing the consideration, i.e the amount paid
- Fairly describing the property
Witnesses, the identify of the purchaser other than the "Bearer of This Note", and
other customary features are optional.
- Consideration: Required! A recitation of an exchange of something of value
is mandatory for any contract, but can be a nominal amount, i.e. $10. The actual
transfer of the proverbial "peppercorn" or consideration is not necessary.
Consideration is even required for gifts, i.e. "ten dollars, love and affection."
Consideration can be other than money, i.e. trade of automobiles or in exchange
for labor and services. A Bill of Sale is a contract and must meet all the requirements
- A Bill of Sale goes into effect when signed unless otherwise noted. To protect one's
property rights, the purchaser should take delivery, or clearly label the possessions
- Gifts: You can transfer property to friends and relatives without actually
"selling" for fair market value. However, consideration must be listed on the contract.
i.e. "three peppercorns".
- Carefully and correctly identify motor vehicles as the type, i.e. automobile, motorcycle,
I.D number, make, etc.