Bill Of Sale – Part 3
Bill of Sale Forms with Better Protection
If you are not used to working with legal forms then you may not be aware of using a Public Notary. These people are licensed by the state and their job is to validate signatures to legal documents. They check your identification, watch you sign, and then they date and sign the document and use an official seal. No one can say with any credibility that those signatures are forged. When selling a car, for the protection of all, signatures are notarized. The notary charges a small fee or your bank may let you use their notary for free. We would not recommend any forms without a space for a notary.
If You Have the Title
If you already own the car, then you will have the title. Signing the back of the title with an odometer statement is your bill of sale. Most likely, you don’t need a bill of sale from the Internet.
If You Owe Money on the Car
If you have a loan on your car, then you will want to use a special bill of sale form. You must pay off the loan, receive the title and sign over the title. Most buyers do not want to hand over money so you can pay off your loans unless you provide them with a form that gives them confidence to their ownership. This form should show the name of your loan company and an estimated time when you will receive the title and hand over the title to the new owner. Most people put 30 days, however we recommend that once you have cleared funds, that you wire them to the loan company and pay to have the title sent overnight. Get the transaction done as soon as possible. You don’t want delays.
>>> Read Part 4 of Bill Of Sale >>>

