What Is a Trailer Bill of Sale?
A trailer bill of sale is a legal document that is used to transfer the ownership of a trailer from one party to another. The bill of sale outlines the details of the sale, including the date, the buyer and seller’s names and contact information, the trailer’s year, make, model and VIN number, as well as the purchase price. The bill of sale also serves as proof of purchase and is required in most states to register and title the trailer.
What Is Included in a Trailer Bill of Sale?
In addition to the basic information outlined above, the trailer bill of sale should include the following:
- The total amount of the purchase, including any taxes and fees.
- If the trailer is being financed, the details of the loan, including the lender’s name and contact information.
- The terms of the sale, including payment methods and any warranties or guarantees.
- A statement indicating that the buyer and seller have read and agreed to the terms of the bill of sale.
Why Do You Need a Trailer Bill of Sale?
A trailer bill of sale is an important document for a number of reasons. First and foremost, it provides proof of the purchase and transfer of ownership of the trailer. This is important for both the buyer and seller, as it protects them in the event of a dispute or legal issue. In most states, it is also required to register and title the trailer.
Do You Need to Notarize a Trailer Bill of Sale?
In most states, a trailer bill of sale does not need to be notarized. However, notarizing the bill of sale is a good way to provide additional protection for both the buyer and seller. It also serves as proof that the document has been reviewed and signed by both parties.
Tips for Writing a Trailer Bill of Sale
When writing a trailer bill of sale, it is important to make sure that all the necessary information is included. It is also important to ensure that the document is accurate and legally binding. Here are some tips to help you write a trailer bill of sale:
- Be sure to include all necessary information, including the buyer and seller’s names, the trailer’s year, make, model and VIN number, and the purchase price.
- Be sure to include any additional terms of the sale, including warranties, payment methods, and any other details.
- If applicable, be sure to include any details of a loan or financing agreement.
- Be sure to include a statement indicating that the buyer and seller have read and agreed to the terms of the bill of sale.
- If possible, have the document notarized for added protection.