In many states, this is required by law.ģ. Make sure the vehicle’s license plate is removed before the motorcycle is physically transferred to the buyer.Check with your local DMV and tax authority to see what documents may be needed in your area. For example, the motorcycle’s “pink slip” must be signed over to the purchasing party. Additional steps may be required to wrap up your vehicle transfer.Some states require that the seller report the title transfer within five (5) days of the sale, and the buyer within ten (10) days. To complete the title transfer, both the seller and the buyer should send a copy of the bill of sale to the state’s DMV.This will protect the seller if a ticket is issued or an accident occurs in the period between the sale and the re-titling of the motorcycle. The seller should contact its state Department of Motor Vehicles (DMV) immediately after completion of the sale and inform them that the vehicle has been sold and to whom.The bill of sale will be registered and used to estimate applicable sales (or use) taxes. Once your bill of sale is complete and signed, visit your local county clerk or tax office to record the document.Alternatively, you and the other party can have your signatures notarized. If questions arise about the sale, that person can serve as a reporter of the transaction. Although not strictly required, consider bringing a third party with you when the bill of sale is signed.Sign two copies of the bill of sale, one for you and one for the other party.Draft and sign a promissory note, and use a bill of sale that provides for deferred payment. If the buyer intends to make a down payment at the time of purchase and pay the remainder over time, do not use the enclosed document. The enclosed bill of sale assumes that the motorcycle’s purchase price will be paid in full on the sale date.The bill of sale states specifically that you have already been paid it may be difficult to collect any outstanding amounts if you give written evidence that the buyer’s payment obligations are complete. ![]() If you are the seller, give the buyer the completed bill of sale only after you have received your money and the transaction is complete.If questions emerge, you’ll need to contact that person or company directly. Getting the correct name and physical address of the other party to your deal is essential. ![]() This will provide essential documentation of ownership and liability obligations and you will be well on your way to establishing a clear record of title for your motorcycle. If you follow the enclosed sample and guidelines, you will have a written acknowledgment of the rights and responsibilities being transferred as part of your sale. Moreover, many states and counties use these documents to determine the amount of sales tax owed on the transaction, if any. ![]() ![]() Bills of sale can help prove the identity of a vehicle’s true legal owner. It also details the terms of the sale, including information about price, delivery, and condition. It proves that ownership of a particular piece of property has changed hands. With the enclosed documents and instructions, you can firm up the terms of your arrangement and prepare for your bike’s new titling and registration.Ī bill of sale is like a receipt. This process calls for a complete, well-drafted bill of sale. A vehicle transfer also requires you to file with your state’s motor vehicle department and other local agencies. In the modern marketplace, your transaction can’t be completed with a simple handshake and a wave goodbye. You’ve listed your motorcycle and you’ve found your buyer-it’s time to finish your deal.
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