What is a Bill of Sale (BOS)?

It's a legally recognized document which transfers the ownership of an asset from a seller to a buyer. It mostly applies to used watercraft, motorcycles, motor vehicles, aircraft, and branded animals. The document is legally binding and used to record a transaction which results in the transfer of ownership of said item from one person to another. While the range of items whose ownership is transferable from one person or party to another is wide, it hardly applies to low-value items like clothes.

The draft of this legally binding document is prepared by the seller, and it includes the specific details of the transaction drawn to protect the seller and the buyer.

To cover the specifics of different items, the state of Georgia has different types of BOS. So, when filling out a free Georgia bill of sale form, you need to ensure that it meets your needs and protects you from liability in the future.

• The other benefits of the BOS include:

• • To the seller: simplification of tax reports, proof of ownership transfer, and it also gives "as-is" protection.

  • To the buyer: the BOS is proof of ownership, it contains the date that the ownership of the property exchanged hands, and it contains warranty details.

Types of BOS in Georgia

The General Bill of Sale

With a general BOS accessible using one of the free bill of sale forms in Georgia, you can prove that the item like your used furniture or laptop has changed ownership through a monetary transaction or some form of trade.

For its validity, the document must have the details of the property on sale like the registration number or the serial number of the item, the model, make, type, year, or its color. Any other distinct descriptions of the item on sale is necessary.

With the details of the item out of the way, you will have to explain whether the transaction that results in the BOS is a cash purchase or a trade.

For cash sales, the cost of the item should be indicated in words and then in numbers.

If the item is given as a gift, this should also be explained.

The details of the agreement for the payment date should also be indicated in the BOS especially if the buyer and the seller agree to finalize the payment on a later date.

The state of Georgia requires that sellers using BOS give details of any conditions for sale or purchase if any. For this, the state requires the inclusion of a disclosure informing the buyer of any defects in the item. The seller must list all the known defects of the item. If a buyer wishes to proceed with the purchase after going through the disclosure, then can the document (disclosure) be signed in the presence of a notary public. However, this isn’t a legal requirement in the state.

To make the document whole, the BOS must be signed and dated by the seller and the buyer.

BOS for Motor Vehicles in Georgia

This is an important document legally recognized as the tool used to transfer the ownership of property and assets (used vehicles) from one person to another.

Thanks to this document, sellers have an easy time reporting their taxes while getting "as-is" protection. On the other hand, both parties get an irrevocable document that proves the transfer of property ownership. It’s also a way of the seller obtaining warranty information for the item on sale.

Note that the sale of the used car could be between one or more buyers or sellers.

• For its validity, it should have specific information about the vehicle on sale. The information includes:

• • The basic details of the buyer and the seller

  • The court assigned case number if the vehicle on sale is part of probate or any other type of probate.

  • Vehicle's year

  • Make and model if the vehicle.

  • The Vehicle's registration number

  • When a lienholder exists, the BOS should have information about the lienholder: the state, city, addresses, and their zip code.

  • Accurate odometer readings and the odometer disclosure document. As a result, the seller is required by law to explain why they would give inaccurate odometer readings. Therefore, the seller has to mention if and when the odometer stopped working or when it flipped.

  • For vehicles purchased out of Georgia or in the case of court-ordered sales, the purchase price, inclusive of charges and the taxable fees, the taxable amount, and the trade-in amount should be included. The buyer's country or state of residence should be indicated as should the tax amount due as per the county's tax rate.

  • Finally, the seller and the buyer must sign the document and include the date of the sale's completion.

BOS for Boats

To sell a boat, you require a BOS that highlights specific details of the boat like the hull registration number, its make and model, the year it was built, primary color of the boat, its length, and its trim color, if any. The date the bill is created should be included in the BOS. Like the BOS for motor vehicles, this document is only final if it has the dated signatures of the seller and the buyer.

Get now any of our free bill of sale forms, downloadable online and accessible to all residents in the state of Georgia.