The Iowa Bill of Sale is a crucial legal document that serves as proof of selling and buying (transaction) between a seller and a buyer. The exchange can also take place between two different private parties. It also serves the purpose of a change in ownership proof. It is essential to have documentation of the change in ownership, handy. The reason - in some cases, this document is needed by the state law. Even if the state law does not need the bill, having it ready will allow you to keep a record of the transaction. Also, it can be used as proof by the buyer that he or she holds the legal possession of the item. Most importantly, some BOS forms might need notarization. For such forms, it is advisable, neither the buyer nor the seller should sign it outside the knowledge of a registered notary public.
Bill of sale - Rules
If the buyer wants citations of the sale or the seller wants to have a receipt against the sale, a BOS form is provided. Let’s have a quick look at the content of a bill. It should include the following –
- The date on which the transaction has been made (date of the sale)
- Make and model of the vehicle
- The year of manufacturing of the vehicle
- The Vehicle Identification Number (VIN)
- The price at which the vehicle has been sold
- If or not the vehicle is a gift or a partial gift
- Relevant information about the warranty
- The full name of the buyer
- The address of the buyer
- The full name of the seller
- The address of the seller
- The signature of the seller
Types
- Boat
- Firearm
- General
- Vehicle
DMV Bill of Sale for Iowa
The DMV (Department of Motor Vehicle) bill presents a piece of evidence (via documentation) about an exchange of property (vehicle) between the buyer and the seller. A bill for a state does not necessarily and legally mean ownership transfer. However, it is an important addition to the records of your vehicle. The billing form includes specific details related to the sale such as the cost of the car, the names, and address of the two parties, VIN, and make and model of the car.
Upon completion of the form, the seller should sign it in front of a notary public. The latter is responsible for the validation of the document. It is advisable to both the buyer and the seller to keep the agreement’s copy.
Auto Bill of Sale for Iowa
Auto bill for Iowa is a legal document that is used to establish evidence of buying and ownership change of a motor vehicle. Both the seller and the buyer should keep a copy of the agreement to their car’s record for future use, as and when needed.
The auto bill for sale includes certain crucial information about the truck, car, or any other passenger vehicle such as disclosure of the automobile odometer, receipt of payment, recent smog statement, and as-is document for the sold vehicle. For auto sales financed by the seller, the kit comprises the relevant forms.
Motorcycle Bill of Sale for Iowa
In Iowa, when it comes to selling or purchasing a motorcycle, it is important to get the documentation right. It mainly includes the proof of transfer of the motorcycle between two parties. In case, the original title is presented, it can be done behind of the title itself by signing the ‘Assignment’ or ‘Transfer by Owner’ part given in the same and completing the documentation with the state.
It is also recommended to secure a bill for the vehicle’s record. It should include the details such as the price at which the motorcycle is sold, the condition of the 2-wheeler, etc. for the reference of both the parties.
Boat Bill of Sale for Iowa
A vessel or boat bill for Iowa is a legal document that provides proof that a legal transaction (buying and selling) of a vessel or boat has occurred. The bill form includes specific information that might be crucial for the registration procedure. Also, it will serve as a piece of evidence that a change of ownership has taken place between the seller and the buyer.
Notarization is a must for the boat bill. Therefore, both the seller and/or the buyer need to sign the forms only in the presence of a registered notary public.
Car Bill of Sale for Iowa
When selling or purchasing of a car takes place in Iowa, getting the documentation right is crucial. It is used for establishing evidence of the transfer of the car between the seller and the buyer. If the original title of the vehicle is available, the agreement can be completed by signing the ‘Assignment’ or ‘Transfer by Owner’ section of the title (it is generally found on the backside of the title). Once signatures are taken, related documentation with the state is done. Both the seller and the buyer should secure the bill of the car for their own reference.
Trailer Bill of Sale for Iowa
A trailer bill for Iowa is a legal agreement that accounts for the selling and buying of any kind of edifice that can be towed or pulled by a vehicle. The main purpose of trailers is to carry items like vessels, motorcycle, car or, other vehicles. The trailer bill form contains details like VIN, make, model, and year of manufacturing of the vehicle, and details of the buyer and seller, etc. Once all the formalities are complete, the agreement is considered final. A copy of the form should be retained by both the parties, seller, and buyer. It will be needed for the title, registration, and getting license plates.