The purpose of the Montana Bill of Sale is to provide verification to the authorities with regards to the item and the parties involved in the transaction. It is imperative that every transaction that is recorded in a bill has true to the word information about the item that is being exchanged.
Moreover, in Montant the bill is merely kept as a written record of the purchase of a buyer. For a seller, it acts as a record of the transaction that has taken place. Officially, every BOS is referred to as Form MV24 in Montana.
However, in Montana, the citizens do not need to get notary authentication on the bill of all types. It is a norm to do so in a few states in the country, but in Montana, there are a selected few items like cars, motorcycle, boat, etc that needs a notarized BOS.
In Montana, the bill or Form MV24 is always associated with the sale and purchase of an appliance, automobile, or any other item of considerable amount. Hence, there are some rules that are to be followed while submission and filling of the form itself.
- Always ensure to enter the correct information on the BOS
- The previous and the new owner must sign the BOS
- Enter the correct details of the item traded in the form
- All the information on the certificate of title and the BOS must match with each other
- The price mentioned on the BOS needs to be correct because the new buyer might have to pay tax on this amount
- Every BOS should accompany other important documents wherever they are required, like in tax-paying, title transfer, etc.
- For a vehicle, the form must have the correct registration ID, VIN details, Overall condition, and the odometer reading (when required).
Majorly, there are four types of BOS in Montana:
Vehicle Bill of Sale for Montana:
It is evident that for a sale and purchase of any kind of vehicle in Montana, you will need to fill out the form MV24 or the BOS form. This is to ensure that both the seller and the buyer have a record of the transaction with themselves. You will need to submit the bill to authenticate a few formalities like in title transfer certificate application. A vehicle bill is available with your local DMV office or you can also get it online. Take caution that both the parties affirm to the transaction with their signatures on the form itself.
DMV Bill of Sale for Montana:
DMV is your local transportation authority that has the responsibility of keeping a record of all the vehicles in the State. Similarly, the DMV is the authority where you need to go after you purchase a new car, van or a motorcycle for transferring the ownership of the same under your name. The DMV needs to authenticate that a legal transaction has taken place and that either of the parties knows their responsibility. Even though it is not necessary to get it stamped from the notary, there are some forms of transactions like a gun exchange that require you to get it attested from the notary.
Auto Bill of Sale for Montana:
Any kind of automobile in the State has a record with the DMV. Similarly, the bill is a record keeping formality which takes note of the type of automobile that is sold. Along with this, it records the name, address, parties to the transaction, the details of the exchanged item, and other sorts of information regarding the same.
With an auto bill you cannot claim the ownership of the purchased item. For that, you need to submit a title transfer certificate and attach the BOS with it before submitting it to the local DMV.
Motorcycle Bill of Sale for Montana:
A motorcycle bill acts as a piece of evidence in the State which certifies that two parties have transferred the ownership of a vehicle among them for a certain price. Everything about this transaction is recorded in the BOS and is kept as a record by both the seller and the buyer.
Since it is not essential to have a bill in Montana, you can also present the same information at the back of the title of transfer ownership form to the authorities. But a BOS is a system of keeping all the details in a systematic manner.
Boat Bill of Sale for Montana:
For a Boat, a bill is that document which expresses to the authorities that two parties have exchanged a boat. With this form, both the buyer and seller have to submit their information that certifies the transaction has taken place in a legible manner and under the radar of the laws set by the State.
A boat bill needs to be notarized by the competent authorities before it is submitted with the DMV and Water transport authorities.
Car Bill of Sale for Montana:
A car sold in Montana needs to be authorized by a BOS and needs the stamp of a notary. Basically, a car bill acts as a record of a transaction whereby the buyer and seller have got into an agreement with regards to a car which they have exchanged among each other.
It is not so that only if you purchase a car from a previous owner that you are required to get a bill. Even if you are buying a new car, a BOS is filled and submitted to the DMV office after getting it attested by the Notary.
Trailer Bill of Sale for Montana:
The most important aspect for a trailer bill is that you record an provide the correct trailer length and condition. Although you can also enlist all the information associated with the trailer on the back of Transfer of Owner form, but it is always better to avail a bill and then get it stamped from the notary.
This will only allow you and the seller to have a permanent record of the transaction for any kind of future references.