In the state of Massachusetts, any kind of selling and buying of property or commodity takes place between a seller and buyer or private parties through a bill of sale.
This form lawfully permits a seller of a particular good or property to transfer all the ownership rights to a buyer. The involved parties can perform a transaction of selling and buying all kinds of assets i.e. car, house, boat or trailer, etc.
What Is a Massachusetts Bill of Sale?
A Massachusetts bill of sale is a legal document that is proof of any kind of selling and buying of property, goods, or a valuable commodity. It outlines the sale agreement between two parties among which the rights of ownership of a property is being transferred.
It serves as a proof of rightful ownership of a commodity, in case of a dispute. Following are the advantages of signing the Massachusetts bill of sale:
- It is proof of ownership of a certain commodity for a buyer.
- It assists the involved parties to legally perform a sales pitch.
- It aids the process of registration for a purchased vehicle.
- It can be used to resolve a dispute over a certain property by declaring the rightful owner of that property.
What Are Some Commonly Used Bills of Sale Uses in Massachusetts?
The Massachusetts Bill of sale can be commonly used to cater to several needs.
- General Bill of Sale: A general bill of sale is primarily the most commonly used bill not only in Massachusetts but all over the US. It serves a proof of an agreement of selling and buying of any property between two parties.
- Vehicle Bill of Sale: A vehicle bill of sale is used in Massachusetts for the purpose of selling and purchasing a motor vehicle. Any kind of vehicle can be bought or sold legally through this form.
- Bill of Sale for Boat: This bill of sale is used for the sales transaction of watercraft, either motorized or non-motorized.
- Firearm Bill of Sale: A bill of sale involving the selling and buying of a firearm is called a firearm bill of sale.
What to Include in a Massachusetts Bill of Sale?
The following information shall be included in the Massachusetts Bill of Sale.
Information of Seller and Buyer
This section includes the basic information of both involved parties i.e. seller and buyer:
- Full Name
- State License Number
- Complete Physical Address
- City
- State
Information About the Property
This section includes the complete and necessary information on the sold property.
Miscellaneous Information
This part includes miscellaneous information.
- In case of cash payment, enter the amount in words.
- Now, enter the agreed selling price in numbers.
- Write the official date of agreement in the format of 'MM/DD/YYYY'.
- Write the official date of payment in the format of 'MM/DD/YYYY'.
- If there is a variation in the date of payment, mention it in the format of 'MM/DD/YYYY'.
- Provide a brief description of what the agreement is about.
- Give brief details in the last box about the trade agreement.
Disclosure of Seller
In this part, the seller provides the details about any defects in the sold commodity.
Signature Section
The signature section includes the authorized signature and printed names of the buyer, seller, and witness in the respective order.
Conclusion
A citizen of Massachusetts can easily sell or buy any kind of property, goods, vehicle, or commodity by filling the Massachusetts bill of sale form. This is a legal document and proof of rightful ownership.
CocoSign helps you in selling or buying a property by providing the professionally prepared bill of sale templates. The locals of Massachusetts can also get a template of the free sample today!