Bill of Sale and Promissory Note - Auto

Document Sample
Bill of Sale and Promissory Note - Auto Powered By Docstoc
					                                              BILL OF SALE

STATE OF _________________
COUNTY OF _______________

BE IT KNOWN, that in consideration of the mutual promises and other valuable
consideration exchanged by the parties as set forth herein,
_____________________________ [Name of Seller] (the “Seller”), of
________________________________________________ [Seller’s Street Address],
county of ________________, state of ________________ hereby sells and transfers to
_____________________________________________[Name of Buyer], (the “Buyer”),
of ___________________________________________________________ [Buyer's
Street Address], county of ________________, state of ________________________,
and its heirs, executors, administrators, successors, and assigns forever, the following-
described motor vehicle (the “Vehicle”):

                     Location (county,
                     Body Type:
                     Vehicle I.D. No.

    1.        PURCHASE PRICE.

The total purchase price to be paid by the Buyer to the Seller for the Vehicle is
$_____________ (the “Purchase Price”), which will consist of the following

              (a) A down payment of $ ________________, which must be delivered to the
                  Seller on or before the date of this bill of sale;

              (b) An additional payment of $_________________, which is due at the
                  delivery of the Vehicle to the Buyer; and

              (c) A balance of $________________, which balance shall be financed by the
Description: You’ve listed your car and you’ve found your buyer - it’s time to finish your deal. A bill of sale is like a receipt. It proves that ownership of a particular piece of property has changed hands. It also details the terms of the sale, including information about price, delivery, and condition. Bills of sale can help to prove the identity of a vehicle’s true legal owner. Moreover, many states and counties use these documents to determine the amount of sales tax owed on the transaction, if any. A promissory note is also included in this package, which allows the buyer to make vehicle payments over time and provides security for those payments. If you follow the enclosed samples and guidelines, you will have a written acknowledgment of the rights and responsibilities being transferred as part of your sale. This will provide essential documentation of your ownership and liability obligations and you will be well on your way to establishing a clear record of title for your property.
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