Purchase and selling of a product or assets is done through the transaction and an agreement between the buyer and a seller. Following the transaction a bill of that sale is generated which is kept in record by both seller and buyer. The bill of sale is a valid document proof for the purchase or selling of the product or assets occurred between two parties. The bill of sale include all the necessary details regarding the information of product or asset to be sold, the details of buyer and seller and disclosure from the seller. The bill of sale is an important receipt that holds the ownership of that product towards the buyer. The Ohio bill of sale is generated on the purchase of general products and automotive vehicles.
The bill of sale is generated for every transaction done in the state of Ohio. However the bill of sale is not compulsory in the state but still drafted in order to keep the record of sale or purchase. The bill of sale is generated for the sale of general products, vehicles, boat and a gun in Ohio State. There are templates available for the bills of sale which can be referred for generation of official bill. Template forms are different for sale of vehicles, boat, general products and firearms. The forms for bill are available in English and Spanish language though it depends on both buyer and seller’s language understanding. Two copies of the bill are generated out of which original copy is kept with the buyer. It is not compulsory to submit the bill towards the state authority as it is not required legally.
Even if the template for bill of sale is not provided by the authority, the buyer or seller can create their own bill format. However there are certain specifications to include while creating a bill of sale. The important things to include in the bill of sale are
- The first part includes the name of both buyer and seller, their address and contact information.
- The date of purchase of product/asset and location.
- Detailed description of the product to be purchased.
- The amount breakdown of the product including tax, insurance or other additional.
- The product warranty or guarantee should be mentioned in the bill.
- Disclosure and terms of sale from the seller should be clearly mentioned.
- Both the buyer and seller should have their signature on the bill.
There are four important bill of sale generated in the state of Ohio.
General Bill of Sale
The bill is generated on the purchase and selling of general products in Ohio. Products such as electronic appliances, home essentials, office essentials, furniture, and other requirements fall under this category. The bill format is quite simplified and includes basic information. The information like name and contact number of buyer and seller, product details, product warranty/guarantee, product price and signature of buyer and seller is filled in the bill of sale form. Original copy of the bill is given to the buyer and other copy can be kept in record with the seller.
Bill of Sale for Vehicles
The bill is generated after the purchase of vehicle by buyer from the seller. The bureau of motor vehicles does not have their format for the bill of sale for vehicles. But a valid and precise bill form can be created in order to keep the record of the vehicle sale on paper. The bill should have clear information of the buyer and seller’s name, address and contact number. The date of purchase and location should be clearly mentioned in the bill. Other details like vehicle body type, registration number, color, engine specifications, year of manufacture should also be added in the bill. Here bill of sale is not mandatory required for the registration of the vehicle purchased but should be kept for record.
Bill of Sale for Motorcycle
A bill is generated on the purchase of a motorcycle in the state. The bill should include some important details about the motorcycle to be sold and details of both buyer and seller are required. The bill can be generated using the reference template provided by the department of motor vehicles (DMV).
Bill of Sale for Auto
Any automotive vehicles purchased in the state should have a valid bill of sale in order to keep record of the transaction. There should be necessary details of both vehicle and buyer seller in the bill.
Bill of Sale for a Boat
The Ohio department of natural resources is responsible for registration of boat purchased in the state. However the department does not have the bill of sale form for the boat. You can create your own bill by including all the necessary information regarding the boat specification, and its price. A driver license number is required to be written in the bill form. As the bill of sale is not compulsory in Ohio State, the seller should mention their important terms like guarantee or warranty and manufacturer’s certificate while creating bill of sale. But registration towards the department is compulsory for the buyer in order to use the boat.
Bill of Sale for Trailer
The bill can be generated separately for the trailer if the information of trailer is not included in the bill generated during the purchase of boat. The bill should include all necessary details about the trailer.
Bill of Sale for Guns
The registration for carrying guns is not necessary in the Ohio state. So a person purchasing a gun does not require any permits from the state authority. Even if the bill of sale not legally required in the Ohio state, the buyer should have a copy of bill of sale from seller in order to prove the ownership of gun. Bill of sale include buyer and seller name and contact information, the model number of gun, make, type and its caliber, the transaction amount, date and location of sale and signatures of both parties.
Though Ohio State does not require bill of sale for any legal documentation the person purchasing any of these products should have a bill of sale in the record. The bill of sale is considered as an important source of proof whenever there is disagreement between the seller and buyer. The buyer should carefully read the terms and conditions mentioned on the bill of sale and then sign on it further notarizing it publicly.