A bill of sale is a legal document that shows proof of a private transaction between two parties that records the transfer of ownership of an item. These items usually include the sale of aircraft, automobiles, motorcycles, firearms, and watercraft. It protects both the buyer and the seller should some problem arise.
Whenever you are transferring ownership of any valuable goods, such as sporting equipment, antiques, art, collectibles, or electronics, a bill of sale can be useful.
Your document must include the buyer’s name and address, the seller’s name and address, and a description of the item. You should also list the item’s condition, including any known defects or damage. The sale price, date of the sale, and the signatures of the buyer and seller should round out your document.
The bill of sale for a motor vehicle is usually drafted by the seller. It is similar to the general sale document, but a few extra pieces of information are needed, including a complete description of the vehicle with make, model, and year, the vehicle identification number (VIN), odometer reading, price, and method of payment, and the signatures of the buyer and seller.
The document must also state that the item is free from all claims and offsets. It must also note if the car is being sold “as is” or under warranty. Minnesota will require a bill of sale with the above information for registrations or title changes on vehicles with no proof of ownership.
Minnesota Motorcycle Bill of Sale
Boat registration in Minnesota lasts for three years. If you’re creating a bill of sale for any watercraft in Minnesota, be sure to include the buyer and seller’s name and address, the hull, and registration ID numbers of the watercraft, along with the title number. Also list the year, make, and length of the boat along with a description of the boat’s condition. State any known damages or defects.
You must also include the make and model of the trailer (if it is included) and the make, year, and horsepower of the motor. Finish off your document by adding in the odometer hours, sale price, sale date, and the signatures of the buyer and seller.
This bill of sale form for Minnesota can be used to transfer ownership of a used trailer from one person to another. This document is for a utility trailer you tow behind a vehicle, not a mobile home.
You must include the names and addresses of the seller and the buyer, the date of the sale, the sale price, and a detailed description of the trailer including the VIN.
In Minnesota, purchasing a firearm is possible for those who have a permit to carry. These documents are issued by a local sheriff’s office.
Minnesota doesn’t require registration of firearms, but a bill of sale is still important in case the firearm is used in a crime. The seller can use the document as evidence of the date they no longer controlled the weapon.
Be sure to include the buyer and seller’s name, address, date of birth, driver’s license number, the date of the transaction, and the make, model, and caliber of the firearm. You must list the firearm’s serial number, the purchase price, the date of payment, and the date ownership is transferred.
You should also include the condition of the firearm, including any known defects or damage, any other conditions of the agreement, and the signatures of the buyer and seller.
For transferring the ownership of horses or animals, a legal form will act as a binding agreement once it is signed should any disputes arise. A bill of sale for a horse should include the date of the sale, the names and addresses of the buyer and seller, and a description of the horse. The description of the horse should include its name, age, color, breed, sex, tattoo (if applicable), and size.
As with other bills of sale, also include the purchase price, payment terms, any warranties, and your signatures.