Bill of Sale Hawaii
To protect your interests in an asset or property, you must have the details of the transactions and the proof of the asset transfer in paper. And, not just any kind of document with your name and the name of the seller or the buyer, but a legally binding document with the information of the parties involved and that of the item on sale or the one purchased. This document is a bill of sale, also called a proof of sale or simply a BOS. The BOS acts as proof of the transfer of ownership from a seller to a buyer.
For use, the BOS should be signed. However, the most important thing to do is to determine the right type of bill of sale. Whether you are selling a boat, a firearm, a car, a horse, a laptop, or even a business, you have to get the appropriate document which is available in the form of a free Hawaii bill of sale form. The forms are state approved, and they help you fill all the relevant details about the item on sale.
Note that the BOS refers to the parties involved in the transfer of assets as buyers and sellers even though the parties use their actual names.
So, which are the main types of BOS accessible through filling out our free power of attorney form in Hawaii?
Motor Vehicle BOS Hawaii
While most of the standard vehicular title transfer documents are completed on the vehicle's title, BOS are required when the person selling the vehicle isn't named in the vehicle's title.
As such, the BOS carries a significant amount of power, and it should be detailed. Some of the important information required in the BOS includes:
The vehicle's identification number
A detailed and specific description of the vehicle
The seller's and the buyer's names.
County and the state where the vehicle was bought or sold.
The vehicle's accurate odometer readings
Vehicle's final selling price
The seller's (s) notarized signature
Note that the form used to record this transfer of ownership of motor vehicles is known as the Form CS-L(MVR)40 to the DMV.
Though the proof of sale document isn't a complete document for the title transfer of vehicles in the state of Hawaii, it’s essential as it offers protection from liability once the vehicle goes to the buyer. And the buyer uses as it as their proof of purchase or a receipt.
The General BOS
The general BOS are necessary when you want to sell an old laptop, phone, or even furniture legally. The bill represents the transfer of interests from you, the seller, to the buyer.
For use, you require specific details of the item on sale: the serial number, model's registration number, make, year of manufacture, and even the color of the item.
The BOS will only be invalid for as long as it lacks information about the seller and the buyer. These details include the full legal name of the buyer and the seller, their cities, state and the zip code. The driver's license numbers for both parties are also necessary.
Other details of the general proof of sale include:
If the BOS covers the trade or the sale of the item in question. If on sale, the BOS should have information about the cost of the item in words and numbers. On the other hand, if the transaction is a trade, it should be explicitly stated that the seller accepts the transaction as a sale. Also, if the item in question exchanges ownership as a gift, this information should be highlighted in the BOS.
The document should be dated and, the inclusion of two names is acceptable should the date that the sale comes to life be different from the date the item is paid for in full. This is the case where the buyer and the seller agree to make final payments for the item on a later date.
The state of Hawaii requires the inclusion of a seller's disclosure explaining to the buyer whether there are defects on the item they are about to buy or not. Any other conditions for sale should be included in the BOS.
Lastly, the document should have dated signatures of the buyer and the seller. Though the document shouldn’t be notarized, it’s a smart move should the document be used as evidence in the court.
The BOS for Boats
Besides the specific details of the buyer and the seller, the BOS for boats is only complete if the document contains details like the length of the boat, the color, the hull's identification number, the registration ID, the title number, and the odometer readings in hours.
The seller also needs to note whether the boat is sold as a whole or in part and if the trailer is included or not.
And if the sale includes the outboard motor, then the motor's horsepower, the make, and the year it was manufactured should be stated.
The purchase price should be words followed by the price in numbers. The date of the payment should also be indicated.
Finally, the document should bear signatures of the seller and the buyer: signing done at the notary public. A vessel notice of sale will be issued.
To even more good news: besides the existence of different types of BOS in the state of Hawaii, our bill of sale forms are available online and at no cost.