The transactions between a purchaser and a seller constitute a document which contains all the details related to such transactions which are known as “Bill of Sale” It is also known as “purchase and sale.” The Bill of Sale is a very simple form which consists of all the financial terms related to the agreement and which is signed by the seller, a buyer’s signature is, however, not required. The monetary funds either it is cash, or an approved check should get exchanged amidst the buyer and the seller at the time of the sale and the details of which should get mentioned in the Bill of Sale.
There are different Bill of Sales for different states of the US.
Let us first understand what exactly the Oklahoma Bill of Sale is.
What is Oklahoma Bill of Sale?
The Oklahoma Bill of Sale Forms is a document which should get considered as a proof of ownership. It depicts the legal evidence of a sale and a purchase transaction. The Oklahoma Bill of Sale will give you all the information related to the parties, the new owner in case of change of ownership and any other information with regards to anything that is being bought or sold. Many of such Bill of Sales need to be notarized. The Bill of Sale required by the state law is an essential document.
Let us go through the steps for writing a Bill of Sale.
How an Oklahoma Bill of Sale is written
It is not a tough nut to crack to write a Bill of Sale. There is a piece of specific information which is needed while writing a Bill of Sale. Some of the information which required commonly in writing in the Bill of Sale are as follows:
- The Bill of Sale was made on which date. Also, in case if the buyer is paying on a different date, then such date needs to be mentioned in the Bill of Sale.
- The legal names of both the parties i.e., buyer and the seller should form a part of the Bill of Sale.
- Along with the legal names of the parties, it should become a part of such Bill of Sale.
- The accurate addresses of both parties should form a part of the Bill of Sale.
- All the terms of sale between the parties should constitute a part of the Bill of Sale.
- The seller also needs to disclose such information to the buyer, in case if there is anything wrong with the item brought by the buyer.
- The most important thing is that both the parties need to sign the Bill of Sale. One thing which is essential to remember is that in case if the parties sign such an Bill of Sale which needs to get notarized, then in such cases the parties should sign the Bill of Sale only in front of the notary.
Let us now go through the types of Bill of Sale.
Types of Oklahoma Bill of Sale
Oklahoma General Bill of Sale
Any items such as electronics, furniture, or any such items which do not need any legal identification like a motor cycle, gun or a boat, need to be mentioned in General Bill of Sale. Some of the very commonly used descriptions for the items sold using this Bill of Sale are:
- Serial or registration number (if applicable)
- Make, model, and year
It is not compulsory to notarize this Bill of Sale. Extra copies of this Bill of Sale should be kept by both the buyer and the seller once when made.
Oklahoma Firearm Bill of Sale
Any legal sale and purchase of firearm done in the Oklahoma state can get proved in a legal document known as Oklahoma Firearm Bill of Sale. As no license is required while buying or selling of firearms in the Oklahoma state, this legal document can get used as a protection by both the buyer and the seller. An Oklahoma Firearm Bill of Sale provides information with regards to the buyer, seller, and other factors related to firearm and change of ownership if any. This Bill of Sale can be notarized.
A Firearm Bill of Sale is not needed to register a firearm. The firearms usually are not enrolled in Oklahoma State until someone applies for a concealed or open carry permit.
Oklahoma Motor Cycle Bill of Sale
Any legal sale and purchase of a motor cycle done in the Oklahoma state can get proved in a legal document known as Motor Cycle Bill of Sale. This Bill of Sale gives information about the buyer, seller, and change of ownership if any and also provides information about various other identifiers with regards to the vehicle being bought or sold. This Bill of Sale can get used while getting the motor cycle registered. Vehicle Bill of Sale needs to be notarized.
Many Federal and State laws need Odometer Disclosure Statement (Form 729) which has to get completed during the sale for the profit of the buyer, so they may be able to register the motor cycle.
Oklahoma Boat Bill of Sale
Any legal sale and purchase of a boat done between either a dealer and individual or two other private parties in the Oklahoma state can get proved in a legal document known as Boat Bill of Sale. This Bill of Sale gives information about the buyer, seller, and change of ownership if any and also provides identifiable information with regards to the boat. Boat Bill of Sale has to be notarized.
For registration of the vessel, a Boat Bill of Sale isn’t compulsory. Nevertheless, this Bill of Sale can be proof of ownership. The state of Oklahoma, however, needs all the boats to be registered every year. Certificate for Title of an Outboard Motor or Boat’s Application (Form BM-26) and proof of ownership has to be needed.