Top Things To Consider Before You Sign A Bill Of Sale in Quitclaim Deed

A bill of sale is a document that transfers ownership of goods from seller to buyer. A bill of sale is often used to transfer ownership of real estate. In some states, a bill of sale may not be necessary if both parties agree to sell their property.

Signing a Bill of Sale - Important Questions to Consider

These are some of the top questions that you must consider before you sign an Arkansas bill of sale document.

Know the terms before signing as a purchaser

If you are looking to buy a car, it is always best to make sure that you know what is included in the bill of sale, be it VIN or mileage. Make sure that you ask questions and understand exactly what you are signing. If you are not comfortable with any of the terms, then you should definitely speak to a lawyer before signing anything.

In the case of car, you are basically buying the ownership rights to use the vehicle from now on. This means that you are essentially purchasing the car. When you are purchasing it for usage purposes, then you want to make sure that you have a good understanding of whether it has undergone major repairs, involved in financial encumbrances etc.

Are you writing down all the important things as a seller?

A bill of sale is a document that outlines the conditions under which something was sold. When selling a piece of property, you would put everything down in writing in order to protect yourself legally. You might sell something without putting anything down in writing, but if you don’t put anything down in writing, then you could end up having problems later.

You can find a bill of sale free template for car easily, in order to make sure that your own bill of sale is created as per the law.

Make sure of the legalities

The last thing that you want to think about when trying to purchase a car for self-usage is whether or not you are breaking any laws. The car might have been used for some illegal activities in the past, and you would want to make sure you are not breaking the law. If you are unsure about anything, then you should contact a lawyer first.

Author Bio

Carl writes often about legal drafting, rental & commercial lease agreements, power of attorney, Bill of Sale and help the people in such document needs.

Last updated August 10, 2022