If lost, you won’t be able to apply for registration, won’t be able to prove ownership if someone claims the vehicle is theirs, and you may have some difficulty selling the car. What Should the Buyer do with the Bill of Sale?Īfter you have made a purchase and received an executed bill of sale the first thing you should do is put it in a secured location. A contract to complete an illegal act is not binding.

The contract is also valid only if it is lawful.

Usually in a numeric and written form.Īcceptance: Signatures of both parties on the bill of sale.Ĭompetent Parties and Legal Intent: Both parties entering the contract must be competent (age, mental capacity, and not impaired or forced). May also include conditions of the sale for the buyer and the seller.Ĭonsideration: The amount of money being exchanged. Offer: The agreement to exchange the vehicle for an amount of money. Each state has different rules for what they consider a valid bill of sale, but a contract itself must abide by the following general rules: What Does a Bill of Sale Need to be Valid?Ī bill of sale acts as a contract between the buyer and seller of the car.

Proper documentation of vehicle ownership is required in order to register your car. All states require you register a car with the department of motor vehicles. Whether you are the person selling or buying, you want proof of the transaction in the event someone claims your ownership or if someone is injured by the vehicle.Ģ. Automobiles can range in price from hundreds to tens of thousands of dollars depending on the year, make, model, condition, miles. There are two primary reasons why you want to secure a Bill of Sale in Virginia when purchasing or selling a car:ġ. We also suggest securing a Virginia bill of sale to properly document the sale including the sales price, condition of the car, and hold harmless language to protect the buyer and seller.

When the original title is available this is completed by signing the “Transfer by Owner” or “Assignment” section of the title and filing the paperwork with the state. When buying or selling a car in Virginia, you always want to document the transfer of the automobile from the seller to the buyer.

Simple car bill of sale printable