Additional Considerations Language Requirements A bill of sale can provide the documentation required to accomplish this. Some buyers and sellers might want to use their vehicles for business or tax purposes. Likewise, a seller can prove that they aren’t liable for costs associated with vehicle abandonment or other wrongdoing after the date of sale. It’s also good for your records.Īs a buyer, you can use a bill of sale to prove that you don’t owe fines, parking tickets, or weren’t responsible for an accident that took place before the date of sale. More than anything, a bill of sale gives both buyer and seller legal protection and proof of the transaction. Why Use One?Įven though you don’t have to use a bill of sale in Illinois under most circumstances, there are benefits to using this document and having it on hand. But, if you are new to the state and want to register a vehicle with an out-of-state title, you’ll need to submit either that title or proof of ownership, which could include a bill of sale. You aren’t required to have a bill of sale in Illinois when you register a vehicle that was purchased from an individual or in-state dealer. In-person signatures are always valid, but you can also use PandaDoc to obtain a legal digital signature. Signature/Certification: The signature of the seller and/or buyer. As-is: Indicates that the item was sold as-is and without any warranties.Description: A description of the property being sold, including make, model, year, and VIN.Sales tax: Indicates whether or not sales tax was collected and how much.Price: The price paid for the property.Date of sale: The date that the sale took place.Buyer: The person or party that is taking possession of the property in exchange for consideration.Seller: The person or party that is releasing the property.
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