Form 706 also called as the Oregon Bill of Sale is a legal document that will vouch for the ingenuity of any sale transaction irrespective of what product it has been conducted. This document will provide in-depth information regarding the parties to the transaction. In other words, it will provide information regarding the buyer, the seller, their respective addresses, the date of change of ownership, etc. An Oregon Bill of Sale is not mandatory if the title of a product is in the seller’s name. In order to transfer a title of a product in Oregon, one needs in some cases an Oregon Bill of Sale. Therefore, it will be good if you always keep such a bill of sale handy whenever you are going to transfer the title of a consumer good or an asset. Even if the Oregon state law does not require it and you have it handy, it will prove useful in recording the transaction.
Rules for Oregon Bill of Sale
Rules for a bill of sale vary from one state to another. For example, Tennessee does not require a bill of sale whenever entering into a transaction to buy or sell any product.
An Oregon Bill of Sale should include the following things:
The seller’s name
The seller’s address
The buyer’s name
The buyer’s address
A serial number of the item being transacted
Identification numbers of the item
Any distinguishing marks
Features or faults
The vehicle identification number and license plate number (if it is being written for a vehicle)
Special conditions to a sale (e.g. sold as is with a warranty, etc.)
The date of the transaction
The previous owner (who sold it to the seller)
The amount paid (written in both words and in numerals)
The method of payment including in installments, cash, cheque, credit card or bank deposit
Any agreements regarding due dates for pending payments, late payments, and interest rates
Moreover, an Oregon Bill of Sale should be checked for the following things:
The bill of sale should be legible
All the information and signatures on the bill of sale should be double checked
Make two copies of the bill of sale, one for the buyer and the other for the seller
Types of Bill of Sale
There are six types of Oregon Bill of Sale, which are listed below:
- DMV Bill of Sale for Oregon
- Auto Bill of Sale for Oregon
- Motorcycle Bill of Sale for Oregon
- Boat Bill of Sale for Oregon
- Car Bill of Sale for Oregon
- Trailer Bill of Sale for Oregon
DMV Bill of Sale for Oregon
It is a legal document that will help you prove that a particular motor vehicle has been traded in the state of Oregon. This document has to provide information regarding the vehicle, the buyer, the seller and lastly the change of ownership details. This document is not mandatory to be notarized as per the laws of the state of Oregon. The department of motor vehicle bill of sale for the state of Oregon provides documentary evidence can prove to be an important document for the records of one’s vehicle. This bill also includes the cost of the vehicle, the addresses of the buyer and the seller, the VIN along with the make and model of the vehicle.
Auto Bill of Sale for Oregon
It is a document that establishes evidence of an ownership change of the car. It is mandatory for both the buyer and seller of a car to keep one copy of this document in their records as it will provide ample evidence of the car having changed ownership. This bill includes very important information about the car namely the disclosure of the car odometer, a receipt of payment if the car is traded, recent smog statement and an as-is document for the sold vehicle. The last mentioned carries information of the condition of the car when it was traded. For car sales which are financed by the seller, the kit also comprises the relevant forms.
Motorcycle Bill of Sale for Oregon
It is exchanged when a motorcycle is traded among two people. It is a title certificate that the seller of the motorcycle endorses and signs and hands it over to the buyer. The buyer will have to submit the bill of sale along with the appropriate application to the motor vehicle authority in the state of Oregon so that he can transfer the title of the motorcycle to his name. This bill serves as evidence of ownership of the motorcycle and therefore it is a mandatory document for the buyer even if the authorities do not make it mandatory to have it. This document has the name of the buyer, the seller, their respective addresses and the condition of the motorcycle when it was being traded.
Boat Bill of Sale for Oregon
It is a legal document that proves that a particular boat has changed hands. In other words, it is legal evidence (which can stand in a court of law) that the boat has been traded between two people or two groups. A boat bill of sale form includes important information that could prove useful during the registration procedure of the vessel. It also serves as a legal piece of evidence that the vessel has changed hands and the title of the vessel has been transferred. The Oregon state requires all vessel owners and operators to complete a NASBLA – and state approved boating safety course in order to operate a vessel powered by a motor of more than 10 horsepower on Oregon waterways.
Car Bill of Sale for Oregon
The department of motor vehicles in the state of Oregon requires that all cars that are bought have a title certificate. This is a legal document that will prove the legal sale and purchase of a motor vehicle in the state of Oregon. These forms provide information regarding the vehicle condition, the name and addresses of the buyer and the seller of the vehicle. Warranty information about the car is also included in this document. Also included is the selling price of the car. Therefore, if anyone wishes to sell his car in the state of Oregon, he will require a title certificate first.
Trailer Bill of Sale for Oregon
A trailer is an unpowered vehicle which is towed by another vehicle. Whenever a trailer is bought or sold in the state of Oregon it requires a bill of sale. This document is a legal certificate that records the details of the transaction happening, the names and addresses of the buyer and the seller and the condition of the trailer, its make and warranty conditions. This form is important because it lays everything down on paper. This document contains the names of the buyer and the seller, the condition of the trailer, any warranty conditions that may have been decided between the trading parties and finally the cost and date of trade.