Bill of sale Colorado
What is a bill of sale?
A bill of sale (BOS) refers to a legal document that proves the transfer of ownership over an asset from a seller to a buyer. The document is available in a specific format, and for that, you have to fill out a form. And, you’re in luck because we have a free bill of sale form in Colorado. Besides facilitating the transfer of ownership of your property, the form ensures that you have all the necessary information when you’re putting pen to paper prevention future issues over the legality of the document and the property sold.
As a proof of the exchange of ownership, you can use the document in the court; hence the need for our free Colorado bill of sale form exists. To proof the validity of the document, both parties have to sign the document in the presence of a notary.
So, which are the main types of bill of sale in the state of Colorado?
The General BOS
Don’t let the name deceive you: though general, this kind of BOS requires specific information about the item on sale.
Wondering what makes it a general document? Well, this type of BOS could be thought of like a receipt you’d get from the grocery store after buying a toaster. The only difference is that you use it when selling that old toaster, laptop, DVD, home theatre, or furniture. In any of these cases, you will need details of the items on sale. Some of the details captured include the serial number of the item, shape, size, color, model, make, and any specific details.
The price of the item should also be included in the BOS in words and then in its dollar amount. After the price, you have to add the date of the sale, as well as the date of the payment if different from the date the sale is initiated. The state also requires you to state whether the item is given as a gift or not.
In the state of Colorado, the General BOS should feature the seller’s disclosure: the document informing the buyer whether or not the item has defects. Once satisfied, both the buyer and the seller must sign the documents in the presence of the notary public.
Colorado Motor Vehicle/ car bill of sale
This reference the legal document used as a proof of the transfer of ownership of a vehicle during the time of its gifting or sale. The state of Colorado requires the use of the BOS under special circumstances, but a title transfer is essential to assigning ownership to the buyer.
Even so, we recommend getting the BOS document for it serves as a receipt of the sale/ purchase. You will need it during the tax period or if legal issues arise; say, if the new buyer fails to register the vehicle.
When is the BOS necessary?
If the buyer needs to drive the car before it’s registered as a result of an after-hours purchase
If the title doesn’t have any space for the recording of the odometer reading.
What’s included in the bill of sale for motor vehicles?
The vehicle identification number (VIN)
Vehicle’s description: year, model, and make.
Buyer’s and seller’s names
Vehicle’s final selling price
Date and time of the final sale
Buyer’s and the seller’s agreement statements. The state requires that these statements indicate whether or not the vehicle bad warranty and if the vehicle is a purchase referred to as an “as-is” purchase.
Unlike other states, the state of Colorado requires the BOS to include the penalty for any perjury statements.
It should be dated and with the signatures of the buyer and the seller.
Notarization isn’t compulsory.
Colorado Motorcycle BOS
Looking to sell a motorcycle to a friend? Get a motorcycle BOS. This refers to an agreement allowing an individual to buy an item and hold the receipt for the transaction after the completion of the transaction. This document is necessary for the registration of the motorcycle and its titling.
You will also need this document to provide a detailed history record for the motorcycle for any buyers in the future.
We recommend its use for cash transactions since this will be the only document in paper form, the only proof that the transaction and the change of ownership took place.
You also need to state whether the motorcycle is sold “as-is.” And, if the buyer requests an inspection, then it should be completed before the finalization of the sale.
For validity, this BOS should be signed in the presence of witnesses and also no notarized by the state’s Notary public.
Important details in the motorcycle BOS form include the make, model, year, color, and the VIN. The manufactured odometer reading is also necessary.
Other BOS include the ones for boats and guns.
So, which BOS do you need? We have all kinds of downloadable bill of sale forms you may need online. The forms are accessible to all the residents of Colorado.