A bill of sale is a detailed document indicating a person has sold his or her products to another person or company. This is a document that shows the transfer of a particular thing from the seller to the buyer and includes all the transactions. Thus, a person can use it for legal matters.
Bill of sale is, in basic terms, a document that can act as evidence to prove the transactions. Just like when you go shopping in a store and buy something, the shopkeeper gives you a slip, or a bill with the details of all the items or products purchased, together with their price.
There are many types of bills of sale like the bill of sale of a car, motorcycle, boat, bus, horse and many more. This article will talk about the horse bill of sale in the following sections.
What Is a Horse Bill of Sale?
The horse bill of sale is a kind of sales bill indicating the selling of a horse from the seller to the purchaser. It indicates when you purchase a horse that the equine ownership has legally passed on to a new person.
The individual sellers or purchasers and the organisation as well make use of the bill of sale. The horse bill of sale is a required document, whether you are professionally engaged with the purchase or you are making a personal investment.
You should have a horse bill of sale whether you are doing the purchase for the first time or you have done it before. Most of the time, you may not need to mention the horse bill of sale, but in some situations, you might need it.
In such circumstances, you will find this bill of sale very helpful and instrumental. Where conflicts exist between parties, these records are often used by courts. So you should complete these documents with care.
When Should You Use a Horse Bill of Sale?
You must have a horse bill of sale each time you buy or sell a horse that should include all the essential details such as the transactions, the new ownership information, and the registration papers.
Often, this document will help you when you intend to sell or gift a horse to someone, and you want to review all the specifications in this regard. This document may also act as evidence of paying taxes.
A well-drafted horse bill of sale should safeguard your investment and upheld all the terms agreed. If you buy a horse that has some medical issues, rendering it incapable of serving its intended position, you can use this as the basis for a legal case.
Without such documentation, you will never be able to show the terms on which you agreed to buy the animal. So, you may lose your money. You will also need this document, if there is ever a dispute, on the owner of the horse, or there arises a question of the horse's heritage.
What to Include in a Horse Bill of Sale?
A proper Horse Bill of Sale should include all of the following terms:
Date and the Information of Both Parties Involved
- The time on which the document was created and issued.
- The name and the mailing address of the seller.
- Contact details of the buyer.
- Name of the horse (if named)
- Date of birth
- Complete details of the horse's health
- The total price agreed between the parties for the purchase of the horse.
- The payment agreed for the security deposit.
- Check for other claims by the buyer or the seller.
- Governing law
- Signatures of the seller and the buyer.
- Signatures of the witnesses.
- Printed names of both parties' members.
Acknowledgement of Notary Public
- Acknowledgement and detailed information of both parties.
Establishing proprietary ownership goes beyond who can ride or use the animal. You have to remember who's responsible for the countless ways a horse can cause trouble. Remember who's accountable for transmitting infectious diseases, or even the actual end-of-life decision.
A horse bill of sale enables you to prevent all such circumstances and to prove the ownership of the horse. It would help if you adequately filled the bill of sale to avoid any problems. You can also get a free template from CocoSign to save your cost and time.