![]() In some cases, a bill of sale may also be required in order to obtain insurance for the new owner. The asset could be a vehicle, boat, piece of equipment, or any other type of personal property.Ī bill of sale provides proof of ownership and can be used to register the asset with the new owner with the appropriate authorities. ![]() ![]() What does a bill of sale means? What Is a Bill of Sale?Ī bill of sale is a legal document that records the transfer of ownership of an asset from one person to another. What are the different types of bill of sale? What are the state-specific requirements for a bill of sale? What is the purpose of vehicle bill of sale? See why you should consider using a bill of sale for your next used car sales experience and how PrivateAuto makes the bill of sale process easy. While not required by every state Department of Motor Vehicles or DMV, this legal document protects you from liability. A bill of sale for car transactions verifies that you sold your vehicle to a buyer.
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