A New York bill of sale is a document used to record a legal transaction between two parties. This legal document will record the information regarding the transaction, the object or item involved in the sale, the personal details of all parties involved, and any conditions or clauses related to the agreement.
There are many different types of bills of sale, and New York may have alternate requirements based on what category of a transaction is being completed. Here are the different types and a brief explanation of each.
The purpose of general bills of sale is to act as a receipt of a transaction between two private parties. It will show that this was a legal transaction and that an item has transferred ownership.
For a general bill of sale to be binding, the document needs the information of both parties involved in the change of ownership. It will also need to detail any identifying information about the sale item.
A bill of sale is required by the New York DMV to be able to transfer ownership of a vehicle. Delivery of this with the seller’s signatures will allow the DMV to issue new registration and license plates.
The exact required details for a New York bill of sale depend on the type of transaction, whether it is related to vehicles, firearms, or horses. For vehicular bills of sale, one can refer to the New York Department of Motor Vehicles website.
As required by the New York DMV, this document is necessary to transfer ownership of a motorcycle. This bill of sale will also be needed to process new registration and license plates. It must have the signature of the seller, and the VIN, which is the vehicle identification number on it.
To be able to register a boat in New York, a bill of sale is required to be submitted to the DMV with the seller’s signature. The document will also need the HIN, which is the hull identification number of the vessel.
A bill of sale or other proof of ownership is required to register a trailer in New York. To be able to receive new license plates and registration, this document must be submitted to the DMV with the name and signature of the seller.
Required by the state to be able to process the sale and show a change of ownership between two licensed individuals. Due to New York having strict regulations on the sale and ownership of firearms, background checks and proof of license from both parties and more may be required.
A legal document to show the transfer of ownership of a horse through a private sale must contain both parties’ information and the price and date of the sale. Information about the horse should also be included in the form.
Bills of sale are legally binding documents. These commonly asked questions will ensure you know when and how to fill out a bill of sale.