- Bill of sale template illinois how to#
- Bill of sale template illinois registration#
- Bill of sale template illinois free#
What is a Bill of Sale?Ī Bill of Sale form is a simple legal document that transfers ownership or title of an asset from a Seller to a Buyer 2. See your state's DMV site for information.
Bill of sale template illinois how to#
Your state will likely have specific requirements for how to handle the license plates, transfer of the Title, and how to report the transfer to the state DMV and/or Tax Commission. In most cases, you need to do more than complete a car bill of sale to transfer ownership of a vehicle. Vehicles, boats, planes, and other assets may involve the use of a Title: a formal legal document that is used to show evidence of ownership. If your state does not require the bill of sale to be notarized, you can remove the Notary section. Warning: Only use this bill of sale template if your state does not already provide or require the use of a specific Bill of Sale form (see below for State-specific forms). While we normally create spreadsheet templates, this bill of sale form contains blocks of text defining specific sale conditions that are more easily edited using Word.
Bill of sale template illinois free#
This will ensure the seller can document the sale of their vehicle if property is damaged or someone is injured during its use.This free car Bill of Sale Template is a very simple form that may be used when you are selling or buying a vehicle. We also suggest both the seller keep a copy of the Bill of Sale, and the buyer keep the original.
Bill of sale template illinois registration#
If you are applying for vehicle registration most states now have an online registration portal you can use, in which case you will need an electronic copy of the document.
We always suggest locking up your bill of sale in a filing cabinet or safe, where a combination or key is needed to access If lost, you won’t be able to apply for registration, won’t be able to prove ownership if someone claims the vehicle is theirs, and you may have some difficulty selling. What Should the Buyer do with the Bill of Sale?Īfter you have made your purchase and received an executed bill of sale the first thing you should do is put it in a secured location.
A contract to complete an illegal act is not binding. The contract is also valid only if it is lawful.
Usually in a numeric and written form.Īcceptance: Signatures of both parties on the bill of sale.Ĭompetent Parties and Legal Intent: Both parties entering the contract must be competent (age, mental capacity, and not impaired or forced). May also include conditions of the sale for the buyer and the seller.Ĭonsideration: The amount of money being exchanged. Offer: The agreement to exchange the vehicle for an amount of money. Each state has different rules for what they consider a valid bill of sale, but a contract itself must abide by the following rules: What Does a Bill of Sale Need to be Valid?Ī bill of sale acts as a contract between the buyer and seller of an ATV, Dirt Bike or UTV. In short, a properly executed Bill of Sale will protect you from future liabilities and allow you to register the vehicle. Illinois does not require the vehicle be registered with the state however if you move to a state that does require registration, you will be required to provide proof of ownership in order to operate the vehicle. Whether you giving or receiving cash for an item, you want proof of the transaction in the event someone makes a claim against ownership (if you are the buyer) or if someone is injured on the vehicle (if you are the seller). There are two general reasons why you want to get a Bill of Sale in Illinois when purchasing or selling an ATV, Dirt Bike or UTV:ġ. Why Do You Need a Bill of Sale in Illinois? We also suggest securing a valid Illinois bill of sale to properly document the sale including the sales price, condition of the vehicle, and hold harmless language to protect the buyer and seller. Typically this is done by signing the “Transfer by Owner” or “Assignment” section on the rear of the original title. When purchasing or selling an ATV, UTV or Dirt Bike in Illinois you always want to document the transfer of vehicle from the seller to the buyer.