A bill of sale is a written document that serves as proof of the agreement between the seller and the buyer. When both the parties agree upon some terms and conditions, they note it down in the form of some documental proof that can be helpful when needed.
It saves both the parties from troublesome circumstances. Whenever something is sold or purchased or there is a change of ownership in any form, a bill of sale must be provided.
The same is the case with a bill of sale of a trailer. Whenever there is a change of ownership for a trailer, a bill of sale for the trailer must be generated.
What Is a Trailer Bill of Sale?
A trailer bill of sale is a written proof of the change of ownership of the trailer. It is a written document that is generated at the time of sale or purchase of a trailer. It is equally helpful for both the seller as well as the buyer.
It helps to claim the ownership of the trailer when necessary. A trailer is something that can be towed with another vehicle and then carried away. A trailer itself is not operable. You need some motor vehicle to attach and carry the trailer.
Trailers come in different sizes and categories, ranging from home-made small trailers to heavy-duty trailers such as boat trailers and trailers used to transport livestock. Depending on the type of trailer, the information provided in the trailer bill of sale can vary slightly.
Why Does a Trailer Need a Bill of Sale?
A trailer bill of sale is necessary for the buyer as it helps in claiming the proof that the buyer had paid the agreed amount and had taken the responsibility of the trailer. It is helpful for the seller in saving him from any potential trouble in case of a trailer accident or misuse.
From the buyer’s point of view, it is helpful in proving that the seller has transferred the ownership of the trailer to the buyer and the buyer can now legally use the trailer.
It will also help the buyer in the registration process with the DMV. Therefore, it is your legal right to demand the trailer bill of sale.
What Is Included in a Trailer Bill of Sale?
A trailer bill of sale is valid only if filled correctly and signed properly. Fill the form in the below-mentioned format and fill all the necessary information.
Seller’s and Buyer’s Information
- Name
- The license number
- Complete address including the state and zip code
- Contact details (phone number and email address)
Vehicle Information
- Make of the vehicle
- Model of the vehicle
- Year of manufacturing
- Vehicle Identification Number (VIN)
- Mileage
- Dimensions
- Condition
After filling all this necessary information, the proper type of trailer should be mentioned. The total amount paid must be mentioned in the respective section.
Names and signatures of both the seller and the buyer must be mentioned on the document and the date of the agreement is also indicated. A trailer bill of sale will be acceptable only if filled in the above-mentioned format.
Conclusion
A trailer bill of sale is a necessary document that serves as proof of the agreement between the seller and the buyer and claims the change of ownership. It is acceptable only if filled properly and signed by both the parties.
A trailer bill with incomplete information or without signatures is considered invalid. So, in order to claim your ownership and save yourself from any trouble, fill the form in an accurate manner. Check out CocoSign, we provide professional templates for all kinds of bill of sale.