A Bill of Sale in North Carolina: The Reason Why You Can Trust Private Sellers and Buyers of Personal Property
Since we can all agree that the Golden Rule hardly applies in this time and age, we can all agree that unless someone documents a transaction and they sign the document against their full legal names and address, we cannot buy personal property. And, unless you are oblivious of the risk you put yourself in, the document signed must be legally acceptable. This document protects the sellers and the buyers. It is a bill of sale or a BOS in short.
A bill of sale in North Carolina refers to the document used to record and signify not just a sale but also the subsequent transfer of ownership rights and obligations from the seller to the buyer. The document is both legally binding and recognized as proof, and it can be used in a court of law should disputes arise.
With this document, you can sell any asset, ranging from household items like televisions to cars, watercraft, branded animals, guns, and aircraft. However, you have to get everything right from the beginning. What we mean is that you have to download the right free bill of sale form in North Carolina. The next step is filling out the form with all the details of the transaction. The information given should be verifiable so that you can use it in court to defend your case.
But, besides providing accurate details, a seller may want to sign a seller's disclosure - the disclosure is what you get in place of the Golden Rule. It is the certification that the information provided is accurate and given to the best of your abilities. In the disclosure, you may want to highlight the flaws of the named item. If a buyer signs the BOS with knowledge of the information in the disclosure, they will not sue the seller.
The bill of sale recognizes the seller and the buyer as the main parties in the document and the transaction.
With that out of the way, which BOS can you use in North Carolina?
If you are interested in selling your luxury yacht now that you've found a willing buyer, you might want to get a free North Carolina bill of sale form which you will fill, sign, and even notarize it. As a document required by the seller for the registration of the watercraft, you need to put down accurate details. You have to give out all the information asked in the form before the sale is complete.
Among them: the details of the purchase consideration, the date the BOS comes to life and the date the yacht or boat is paid for, as well as the type of transaction you are getting into. By type of transaction, we are referring to whether you are getting cash for the watercraft, if you are trading it for something else, or if you are gifting it. Note: if the transaction is a cash sale, you have to indicate the selling price in words first and then in numbers.
Any other terms of the transaction should be put down. And, the BOS is incomplete without the details of watercraft. So, input the make of the yacht or boat, its make, model, the type, style, and color.
You will also need the vehicle's registration number, the name of the manufacturer, the North Carolina title number (if available) and the length of the item. The Hull ID and the odometer readings are also necessary. If the yacht or boat has accessories like twin engines, showers or toilets, trailer or outboard engines, it should be indicated.
For the outboard engine, indicate the year, make and the horsepower. For the trailer, put down the length, color, make, and the registration number.
As mentioned above, this document should be notarized. This means that both the seller and the buyer (whose details, names and addresses, are put down in the form) should date and sign the document at the notary public in North Carolina.
Selling a horse
After intensive research and recommendations, a buyer may decide to buy a horse from you, the breeder. But, before they pay anything, careful buyers request pre-sale health examination, just to know what they are getting into. As a seller, you should not take the report from the vet as the only documentation you need.
You should get a BOS to record the sale and the subsequent transfer of ownership when the sale is complete. For the health examination, the buyer will have to put down a deposit. These details should be included in the BOS, and it should be noted that the amount will be deducted from the final cost of the horse and if a certain date does not pay the rest of the money, the buyer doesn't get their money. Any other terms of the transaction, trade, or gifting should be put down in the BOS.
Also, the BOS should have the names and addresses of the seller and the buyer, as well as their identification numbers. About the horse, the seller has to give his or her full description. The descriptors include the name of the horse if he or she has one, the age given as the date of birth, their gender, the color, breed, and their registration number.
To finalize the sale, the buyer and the seller have to sign the dated document in front of the notary public.
BOS for motor vehicles
A requirement for the registration of vehicles bought from car dealerships, a motor vehicle BOS refers to the proof of sale and transfer of ownership rights for the vehicle. As per the laws set in North Carolina, this document must have the names, addresses, and the signature of the seller and the buyer, the date of the trade or sale, and the odometer reading. It should also have the vehicle's identification number, make, model, year, and color, as well as the purchase consideration.
The state of North Carolina also requires the seller to issue an odometer disclosure statement for vehicles that are less than 10 years old. A complete damage disclosure statement is also a requirement.
So, which BOS are you looking for? Pick a befitting bill of sale form from us and use it in any city in the state of North Carolina.