Selling Personal Property in Oklahoma
What are you selling? What’s its value? Is that item lived in, slightly used, or new? Whatever you are selling, we are here to make sure your interests are protected, you have records of the sale, and that the buyer gets full ownership rights to the item purchased. By the time you finish reading this article, you will know what to do to avoid getting sued after selling a horse, furniture, or a used car. And, the best part is that you will only need one document to sell a named item. Wondering how all that is possible? Well, let’s introduce you to the bill of sale.
The bill of sale (BOS) represents the document you need to prove that you have sold an item in exchange for a certain amount and in doing so, you’ve transferred to the buyer your obligations and rights for the property. This also means that you should be ready to disassociate yourself from that car despite the sentimental value it holds. To enjoy these benefits, you have to download a free bill of sale form in Oklahoma first. The downloaded form has fields which should be filled out before the document is completed.
While all the details of the BOS are important and almost similar, you should know that you require different types of the free Oklahoma bill of sale form to get officiate the transaction. You also need to know that the forms have some standard information which should be input in the form. And, you also need to ensure that the details provided are accurate, even when you don’t have to sign a seller’s or a buyer’s disclosure.
The BOS for household items – General BOS
Are you selling furniture, bicycles, a television, or jewelry at home? How about documenting every sale to track down your asset portfolio or for tax purposes? All you need is a general BOS form populated with your personal information (name and mailing addresses), as well as the details of the buyer?
This document will also have the specifications of the item on sale: the make, model, color, year, registration or serial number where applicable, the size or even the material of the item on sale. If you are selling electronics, you will need to note that down while indicating the details of any accompanying accessories.
The purchase consideration or details of the trade should also be entered in the form. If giving out the item as a gift, mention it. This BOS is incomplete without the date it comes to life, the date the purchase consideration is paid, and the date that you complete the sale. Note that the completion date should be entered beside the signatures of the parties involved in the transaction.
Though you don’t have to notarize it, you have to keep extra copies of this BOS.
Oklahoma’s BOS for Horses
Perhaps you are a horse breeder with an interested buyer, or you no longer think you can take care of your horse. But, even if you need to sell that horse, you need to make sure that the buyer can take care of the horse as they should. But, you cannot ask a buyer to give you their financials. That leaves you with one better way to prove that they are responsible: make them sign a legal document that grants them ownership and responsibilities for the horse. With this document, the buyer will be charged if they abandon the horse.
To make it stick, the BOS must have the identification information of the buyer, and also yours. Signatures of both parties are also needed to complete the document. Other details include the full description of the horse: the color, breed, gender, date of birth, name, registration number and other unique descriptors. You also have to indicate the purchase consideration, gifting terms, or the trade information.
If a buyer needs a pre-purchase medical examination, they pay, and that cost will reduce the amount they need to pay for the horse.
Conditions of the sale should also be put down.
Finally, after paying for the horse, both parties have to sign the document at the notary public where the details of the seller and the buyer will be verified.
BOS for motor vehicles
The state of Ohio will only recognize the BOS for the sale of a motor vehicle if you fill in DMV’s Form 722-1 with the vehicle’s identification number, the year, make, model, and the actual odometer reading. Other details include the names, addresses, and the contact information of the seller and the buyer, and the purchase price.
Since you need the BOS to register the car as yours after purchase, it should be notarized.
Which BOS do you need? Our bill of sale forms will meet your needs at no cost and you can access them from any city in the great state of Oklahoma.