A Bill of Sale is a document that transfers ownership of the vehicle from the Seller to the Buyer by the transfer of possession to the new owner.
The agreement should include details regarding the make, model, and descriptions of the vehicle. The consideration/ amount paid for the vehicle should also be clearly stated.
The document should be carefully read by the individual Transferor and Transferee.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
The Bill of Sale should be registered with the relevant vehicle registry at the jurisdiction where the vehicle is registered.
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