This gives them proof of ownership as well as a record of their payment. This means they aren’t extending a warranty that everything on the car works perfectly since the vehicle’s used condition could mean there is an unknown underlying problem with a component of the car.īy contrast, if they sell it with a warranty, the bill of sale should spell out what they’re guaranteeing.įor the buyer, the bill of sale is a record of the transaction. It’s a legal document that gives protection to both parties by proving the sale was completed and that property and payment changed hands.įor the seller, a bill of sale is proof that the item being transferred was accepted by the buyer in the condition described.įor example, if someone is selling their used car, they may wish to sell it in “as-is” condition. You can think of a bill of sale as being similar to a receipt. The point of a bill of sale is to document that the sale happened and to afford protection to both sides in the event of a future dispute. Generally, the seller writes up the bill of sale which should spell out all the details of the exchange. However, you can also issue a bill of sale when you sell personal property like clothes, furniture, or even a puppy. You can use a bill of sale to document a variety of purchases, with most people using them for cars, motorcycles, or boats. In this post we’ll show you how to write a bill of sale. It is the responsibility of the new owner to obtain either license plates or a temporary registration.Basically, a bill of sale confirms that ownership has changed. The plates are not to stay with the vehicle. Lastly, the seller of the vehicle should always keep their license plates. Vehicles are exempt emissions if purchased during the first 7 model years of the vehicle. Vehicles 1981 and older will receive a test valid for 1 year. Vehicles 1982 and newer will receive a test which is valid for 2 years. In addition to the properly signed and notarized title, you, as the seller, should give the buyer a bill of sale which contains the perjury clause.Ĭhange of Ownership requires a new passing emissions certificate supplied by the seller at the time of sale. The buyer then must present the title to the motor vehicle office in order to complete the transfer. The first name written first, then the last name: John Smith.Īfter the seller's signature has been notarized (if necessary), have the buyer enter their name on the "convey to" portion of the title exactly as they want their name to appear on the title. If the title reads Smith, John, then the signature must be made on the title in the normal written order.If the title reads John Albert Jones, Jr., then the signature on the title must read: John Albert Jones, Jr.Jones, then the signatures on the title must read: John and Mary A. If a selling party's name has been signed off by a power of attorney, that document is also required. The signature of the seller must match the name of the owner exactly as it is printed on the title. If you are unsure about the need for notarization, please call the motor vehicle office at (970) 498-7878. Some states use titles which require notarization of the seller's signature. You, as seller, and any other party listed on the title as owner, must sign on the "signature of seller" portion of the title. Codes, Policies, Ordinances & ResolutionsĪ title is required to sell a vehicle in Colorado.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |