Here is How You Create a Nevada Bill of Sale without Errors
When selling personal property like your used car, a boat, an aircraft, or a motorcycle, among other assets, you have to be ready to transfer the asset’s title. And since you cannot finalize a sale without a title transfer, it only means that you have to provide the authorities with a document which shows that you are the new owner of the asset. Failing to finalize the sale means that the seller will still be liable for any violations relating to the item.
Enter bill of sale: the document which shows that the seller sold the property in question to the buyer and in so doing, transferred ownership rights and responsibilities to the buyer. The document is legally binding, and the seller creates it. In the BOS, two parties are identified, the seller and the buyer. And, being legally binding, the information provided by the seller should be accurate.
Note, in the Silver State, Nevada, the bill of sale is necessary in specific situations, and you need to make sure that you have everything in the right place when you need the BOS. And, even when it is not mandatory, having a detailed BOS with accurate details ensures that you can prove the transfer of ownership in a court of law should a dispute arise. The document releases your interest in the asset and so, it protects you. You cannot, however, get that protection when the details in the document are incorrect, can you?
Unfortunately, not everyone knows what should be in the BOS or the types of BOS available, and they end up making mistakes. The mistakes may even cost the buyer the ownership rights of the property, and they may not be able to register the property within the given time frame. But, if you are reading this, you are in luck because we shall highlight the elements that make the document complete. Among them:
Use the right document for the item on sale. If downloading a free Nevada bill of sale form for the sale of a car, make sure that it is the correct form acceptable by the DMV in Nebraska. On the same note, ensure that you have a specific and a free bill of sale form in Nebraska for the sale of puppies, dogs, furniture, motorcycles, boats, or horses.
Specific descriptions. Items on sale have unique physical and technical attributes. Note down every detail including the size, color, or shape. You also need to put down the technical specifications which include the serial number, registration number, boat’s hull ID, Phone’s IMEI number, or the horse’s name, model, eye color, and many others. For vehicles, boats, and motor vehicles, you will have to put down the accurate odometer readings and the vehicle’s identification number. These details ensure that you can prove what you sold or purchased if a dispute arises. Regulatory and registration authorities also need these details.
Identification details of the parties involved. The BOS will never be approved without the identification details of the parties involved. The form downloaded will have a section that requires your details and those of the buyer; don’t leave that out. Enter the full legal names of the seller (you) and the buyer, the driver’s license numbers, or the state identification numbers of the parties. The mailing addresses of both parties should also be in the form.
The next important information in the BOS is the purchase price of the item. Even if the amount is not paid on the day that the document is created, you should put it down in words first and then in numbers. The date of the expected payments should also be put down. Speaking of dates: the BOS should have three different dates: date it’s created, payment date (if different), and the date that the ownership of the asset is transferred.
Dated Signatures: even with names and state identification numbers, you cannot vouch for the authenticity of the document if it lacks signatures. Both parties to the sale have to sign the document after the details in the form have been confirmed.’
Terms of sale: are you receiving cash, taking the payments in installments, giving out the item as a gift, or is the transaction a trade?
Seller’s disclosure: To renounce your responsibilities for the item you are selling, and to prevent liability in future, you should write down the defects that the item on sale has. Even those scratches or tiny cracks should be indicated. This means that the buyer will agree to buy the item on sale ‘warts and all’ and you will not be charged for not mentioning that the car had a scratch on the bonnet.
Type of BOS
In Nevada, the common types of BOS include:
BOS for Motor Vehicles
The BOS for motor vehicles must have all the details above, and it should also be notarized.
BOS for horses
This has the details of the sale as well as the name of the horse, the breed, gender, color, date of birth, and the registration number. It should show if a pre-sale health examination is conducted. If a security deposit is given, you have to note down the terms applicable
BOS for dogs
It has all the details above. However, you should note that the animal is, according to the state laws, only valid for transfer to the care of the buyer only if it’s older than 8 weeks. Note that puppies (and even kittens) cannot be separated from their mother if they are still suckling.
Get our bill of sale forms today from any city in Nevada.