What Can You Do with an Ohio Bill of Sale?
This is one of the documents many people forget about when holding yard sales with valuable items or even when selling important and valuable items like boats. But, we believe that as long as you are selling an asset legitimately and if that item belongs to you legally, it doesn't hurt to have the right documentation.
What do you reckon? And, how would you feel if you are told that the antique cookware sets and jewelry you bought from a yard sale were stolen, and you cannot find a way of contacting the seller? Angry with yourself, just as much as you'll be angry with the seller, right? Understandable! But, we have some good news: information that protects you from such scenarios.
In extremes, this document will protect you from being sued, arrested or jailed, while protecting you from having to pay a parking ticket (if you sell a used car) when the buyer fails to register the vehicle or if they abandon it. This document is the bill of sale: legal documentation of the sale of personal property, as well as a representation of the transfer of ownership rights (and obligations) for the item purchased. To the buyer, a bill of sale could be thought of as a proof of sale.
Also called a BOS, it signifies that the seller received an amount or another item for their rights of the item on sale. It could also be used to show that the seller gave away their personal property as a gift.
To get you started on this document, you should get a free bill of sale form in Ohio. This form has fields which should be populated with the details of the seller and the buyer, the details of the transaction, as well as the specifications of the item on sale.
Note that the uses of the bill of sale bring about different types of BOS.
To sell a motorcycle, you need to get a free Ohio bill of sale form first. When filled out, this document will serve as proof of sale and ownership transfer. Therefore, once downloaded, indicate the date the document is created and also enter the names and addresses of the seller and the buyer.
Personal information of the two parties involved ensures that someone is liable should the motorcycle be used to commit a crime or if it is abandoned. Under the address, both parties should provide their mailing addresses rather than PO Box numbers. The names given should be the ones appearing in the state identification card or the ones in the driver's license.
The BOS also shows that the motorcycle is sold as is - in its current condition and without any warranty. The specifications of the motorcycle are also needed - the year, model, make, manufactured odometer readings, the vehicle's identification number, and the color.
The next detail needed is the agreed purchase price for the motorcycle. The purchase price should be indicated in words first then in numbers. If the transaction is a trade, it should be mentioned and the traded item described in detail.
The date of the transaction is also necessary as are the dated signatures of the buyer and the seller. The signing should be done with witnesses present, and either party should have an impartial witness.
Finally, it should be notarized. For notarization, the public notary requests identification documents from all the signatories for confirmation before affixing the state's notary seal.
Selling Boats and Watercraft
To transfer the ownership rights to a boat in Ohio from a seller to a buyer in exchange for money or a traded item, you have to fill in a boat BOS form. The form must have the names and the mailing addresses of the seller and the buyer, as well as the date that the form comes to life and the date the boat is paid for.
For identification purposes, the BOS should have the boat's specifications: The Hull identification number, the number of hours on the engine if the seller sells the boat with the engine, and the style of the boat. Under the style, relevant information will include the color of the boat, the hull type, its manufacturer, year built, length, and the title number, among other details.
The payment details should also be entered. These details include the purchase price in US dollars or the trade involved. It should also state the details of the lines and any encumbrances if there are any and the readings of the odometer in hours, kilometers, knots, or miles. The seller also needs to note down the condition of the vessel, by listing any marks, scratches, and things that need repairs. By indicating the flaws of the vessel, a seller protects themselves from getting sued by the buyer.
The last thing you should do is to sign the BOS at the notary public or in the presence of witnesses.
BOS for selling motor vehicles
Developed in the same way as the BOS for motorcycles, the BOS form for the sale of motor vehicles in Ohio is necessary for tax purposes and it offers protection from legal issues by working as a receipt proving ownership or sale of an asset.
The difference between the BOS for motor vehicles and the one for motorcycles is that then former requires different details in the description of the item on sale. It needs the vehicle's final sale price, VIN, county/ state of sale, make, model, color, registration number, and the odometer readings. A seller has to indicate whether the odometer readings are accurate and if there are any discrepancies in the odometer readings.
It is also required for the registration of the vehicle, and it should be notarized.
What are you selling? Our bill of sale forms accessible from all the cities of Ohio will help you legalize the sale and protect your interests.