Using Bill of Sale to Sell Vehicles, Motorboats and Other Commodities!

1. Using Bill of Sale to sell Vehicles, Motorboats and other commodities! For people who frequently engage in sale and purchase deal, safety, legality and law become a significant concern. A bill of sale is a legal document used to record the sale of personal property and its acceptance by the buyer for a particular amount. The transfer of ownership, obligations for the property and other details are also maintained. You can download a bill of sale template Texas to go through the details that need to be filled. The final document must contain details of the transaction and the parties involved, the amount paid by the buyer, the product description and specifications, etc. The state of Texas allows the following forms of BOS: BOS for Motor Vehicles: For the purchase and sale of motor vehicles, you need to fill BOS with relevant details of the sale, parties involved, and the description of the item on sale. The vehicle’s details should be elaborately defined including, the vehicle’s odometer reading, registration ID, model, fuel capacity, etc. The department of motor vehicles in Texas demands to fill out Form VTR-40- the odometer disclosure statement with the vehicle’s mileage, within 30 days after BOS’s notarization. Business BOS: To transfer the ownership or stake in a business, you can prepare BOS that outlines the selling price of a business. This will have details about both the parties.Financial statements of the business and the balance sheets of the last 3-4 years must be attached. Revenue, tax details, contracts, operations manuals, etc., are some important disclosures. BOS to sell a boat Other than details of parties involved BOS for boats require driver’s license numbers of both parties and a detailed disclosure about the boat.