Protection of Your Ownerships Rights and Interests with a Louisiana Bill of Sale
It doesn’t get better than this: you buy a used car, and by signing a completed free bill of sale form in Louisiana prepared by the seller, you get all the rights to the car. And, as the seller, you transfer all interests in the car so that if the buyer fails to pay their parking ticket, they’re liable, even before the vehicle is not registered in their name yet!
Sounds amazing, doesn’t it? Well, that is what you get from using a bill of sale (BOS). Wondering what it is, exactly? Well, a BOS represents a legal document that signifies the transfer of ownership over an asset/personal property from a seller to a buyer. This document illustrates the voluntary intention of a seller to handover the possession of an item at a cost or under some conditions. Besides cars, the BOS can be used in the transfer of ownership rights for other items like horses, furniture, firearms, boats, and even home or office electronics.
As a legal instrument, it can be used in court as evidence. To initiate its use, the seller has to draw the BOS and fill in their details, the details of the item on sale, as well as information about the buyer, among other things. While these are the standard details in the BOS, some variations exist, and these create and set apart one type of BOS from another. So, to protect your interests, you have to create the appropriate type of BOS matching what you are selling. The best part, as noted above, is that you don’t have to pay for the document needed because we have free Louisiana bill of sale form. Now that we have that down, here are some of the BOS’s you might want to use to protect yourself and even to file taxes.
All proof of sale documents have one feature in common: they come with the “as-is” condition. What does this mean? As-is means that no guarantee exists on matters relating to the property’s conditions and that the item on sale doesn’t have defects.
Note that the state of Louisiana recommends signing the BOS in the presence of the notary public.
What do you need for a complete BOS for motor vehicles in Louisiana?
If you are selling a used or a new car, you can only transfer your ownership of the vehicle by filling out and certifying (signing) a BOS specific for motor vehicles. Using this document, you will not be forced to pay for tickets if the buyer abandons the car, fails to pay what’s due to the government, or if they fail to register the vehicle within the allotted time. So, you need to download the form needed to complete the BOS and then populate it with all the information needed to make the item valid.
Which details make this proof of sale document complete?
Seller’s and buyer’s information. Since this document represents the legal channel for transferring the ownership of the car, it must hold the full legal names of the seller and the buyer. It should also have the state ID numbers or the driver’s license numbers for both parties, as well as their complete physical and mailing addresses (this includes the state, city, and the zip code). Note that the ID number or the license number is important for proving identities of the parties involved in the transaction should a dispute arise even though it’s not a legal requirement.
The description of the vehicle on sale. The only way for you to prove that you sold your car is by describing its attributes. You have to highlight the vehicle’s identification number, its make, model, year, color, and other features that specify the car on sale. Any serial or registration numbers of the vehicle or its parts should also be highlighted.
It’s purchase price. Is the car sold for cash or is it traded for something else? If it’s a trade, what’s the seller getting in place of the car and do they agree to it? If it’s a cash sale, how much is the seller accepting for the car? Once the price is agreed on, the seller should put down the amount in writing, with the amount written in words first, then in numbers. What about cases where the vehicle goes to the buyer as a gift? When giving out the vehicle as a gift, you’ll have to highlight this in the BOS. Note that the expected date of payment should be included in the document.
Odometer readings. To prove that the information you’ve given under the car’s mileage, you have to note down the exact number on the odometer reading at the time of the sale. And, if the vehicle is less than 10 years old, then an odometer disclosure statement will be necessary.
Seller’s disclosure. This is the part of the BOS which states that the seller is certifying to give accurate information about the motor vehicle on sale, including any defects known. By signing the disclosure, a seller promises that the information they’ve given out is true to the best of their knowledge.
Signatures and dates. A BOS for motor vehicles is only final if it has signatures of the seller and the buyer and if it is notarized. Besides the signatures, there should be the date for the finalization of the BOS. Notarization is crucial when buying a motor vehicle because it’s needed for the registration of the vehicle.
Don’t forget to keep a copy of the document after its notarization.
Preparing a BOS for watercraft in the state of Louisiana
Would you like to sell your boat or yacht and to transfer full ownership to the buyer? The state of Louisiana got you covered with the watercraft BOS as well as laws that the support the use of the BOS as proof of ownership. To process the document, you will need to populate the BOS form for boats (watercraft) with information like the consideration payable for the boat, the watercraft’s year, style, make, color, and model. You also need to indicate if the boat comes with unique features such as a sink, twin-engine, trailer, or a shower, among other features.
To finalize the sale, it’s important for the parties involved to put down their signatures.
Since the BOS is a requirement for the registration of the boat, it should have the signature of the notary public.
Selling Household Items using the General BOS
For the sale of a bicycle, furniture, laptop, television, or a piano, you need the general BOS. Besides names and signatures of the parties involved, you need to state the consideration paid for the item, its make/ model/ year/ color, and even the serial or the registration number. You also need to sign the seller’s disclosure.
While you should keep signed copies, this document doesn’t have to be notarized.
So, which BOS are you looking for? Our bill of sale forms are available online for all Louisiana residents. Download yours today!