What is the idea behind a bill of sale???

[billyboy]

What is the idea behind a "bill of sale"?

I traded a member a 450R for a 400ex. The 450R had a title and the 400ex he traded to me was only a bill of sale...

Aren't these supposed to include the VIN numbers of the ATVs they are wrote out for? Just curious here but that just seems funny...

How are you supposed to get a title for that atv?

[derekhonda]

some states (like indiana) dont have titles for atvs, so when you sell them, the only way to legally do it is to provide a bill of sale.

Bill of sale should include both parties names, addresses, and phone numbers. Date of sale, terms of sale (usually "no warranty") and price. Also included should be information on the vehicle (year, make model, vin number)

I usually write up a paragraph including all the information:

I "Joe dirt" sell one "1999 400ex" vin number "999999999" to "mickey mouse" on "/07/07/2007" for "$2,000" in cash.

Buyers sig.
Sellers sig.
Wittness sig.



This protects you if lets say someone reports it stolen and the cops find it in your garage, hand them that piece of paper and youll still lose the quad but wont go to jail.

Also, if you HAVE to get a title for the quad, i believe the bill of sale can be used to get it.

[Ghost-Rider]

Basically to prove you bought it.

[DVXracer]

If it doesnt have a title they give you a bill of sale basically saying it wasnt stolen in the past and is yours now.

[Crazy lil punk]

Originally posted by Ghost-Rider
Basically to prove you bought it.

x2, best way to put it^^
also, if its stolen it goes back on the person you bought it from, and then it goes back on the person they bought it from. know what I mean?

[CannondaleRider]

Also, In some cases, due to the lack of title, and Bill of Sale must be provided....until they can get you the title. In many cases, you won't get a title until the bike/quad is payed off.

So if a sale is made before it's paid off, you provide a Bill of Sale, take your sales money, pay the bike off, then you get the title....which you, obviously, sign over to the current owner.

[Chin_Chilla]

Originally posted by CannondaleRider
Also, In some cases, due to the lack of title, and Bill of Sale must be provided....until they can get you the title. In many cases, you won't get a title until the bike/quad is payed off.

So if a sale is made before it's paid off, you provide a Bill of Sale, take your sales money, pay the bike off, then you get the title....which you, obviously, sign over to the current owner. ^^^X2^^^