For example, Illinois and Tennessee don't require an auto bill of sale. Vehicle bill of saleĪ vehicle bill of sale is not required in all states. It is used when the seller can't guarantee that they own the property and have the right to transfer it, or when the seller doesn't want to warrant title, which leaves the buyer no legal recourse if problems arise in the future.Ī bill of sale with warranty, on the other hand, means the seller can guarantee that they own the property and have the right to transfer it, and will protect the buyer from future claims against the property.īecause of the complexities of real estate transactions, you should not use a quitclaim bill of sale when selling or buying real estate. Quitclaim bill of saleĪ quitclaim bill of sale is similar to a quitclaim deed: It transfers ownership of property from one party to another.

Still, other states require that the form be notarized. For example, some states require only the buyer to sign the document, while others require both the buyer and the seller to sign the document. When drafting even a simple bill of sale, make sure it complies with your state requirements, which will vary by state.

Signatures of seller, of buyer, and of a notary public.

Guarantee that the item is free from all claims and offsets.

Description of the assets being transferred.

Amount paid for the transfer of ownership.Parts of a bill of saleĪ generic bill of sale includes the following information: If you are the buyer, and you want a bill of sale, you can bring one with you, even though the seller typically provides it. If you're selling an item of lesser value, such as clothing, it comes down to personal preference as to whether you want to take the time and trouble to draft a bill of sale. Most states require a bill of sale as proof of purchase when buying or selling a vehicle or a branded animal, like a horse (a horse bill of sale). When should you use a bill of sale?Ī bill of sale is commonly used when selling or buying an item of value.

It protects both the buyer and the seller, should disagreements arise in the future. The bill of sale, as a rule, is drafted by the seller and includes the details of the transaction. It also can be used to record the sale of personal property, such as animals or furniture. The document is commonly used to record the sale of aircraft, autos, motorcycles, and watercraft. A bill of sale is a legal document that records the transfer of ownership of an asset to a second party in exchange for money.

Simple illinois vehicle bill of sale