What Makes An Auto Bill Of Sale Form Valid?
An automobile bill of sale is a written document generated at the time of selling an automobile to another person, regardless of the form of payment. This is very important and mandatory in most countries, especially for used cars. To be viewed as a legally acceptable document for this purpose, it has to satisfy a number of requirements in line with the laws of that state or country. It is usually created in the interest of both the parties and acts as an evidence of transaction. Though minor differences occur across states, regions and countries, the requirements stated below are the minimum that makes an automobile bill of sale a valid document: – Date of transfer of automobile from seller to buyer. – Price at which vehicle was sold and exact payment terms. – Details of vehicle including make, model, year of production, mileage etc. – Declaration that the vehicle is sold “as is”, meaning the way it is transferred with no warranties involved. – Buyer and seller’s name and contact deta