Yes like i said i am trading my car for another car. This is a private party transaction and there is no money involved. Both of the cars are paid off and have no leins, also both owners have the titles to the cars. So, my question is do i need to get a bill of sale if SO how do i get one. I live in Alabama, Usa.
2007-09-04 05:11:02 · 7 answers · asked by cbowles05 2 in Cars & Transportation ➔ Buying & Selling
All you have to do is sign off on the titles. Also each seller should also do a Release of Liability and keep copies for your records.
2007-09-04 15:33:49 · answer #1 · answered by worldthatwas 3 · 0⤊ 0⤋
Absolutely, you need a bill of sale. The state may not require one, but it will protect you and the other party. You need to protect yourself from any legal problem that could arise from such a transaction and a signed Bill Of Sale is the best document you can have.
Write up a document with the transaction clearly defined. Describe the vehicles, year, make, model, the mileage and the VIN. The date of the transaction and have both parties sign and date it. Get it notarized.
This is a legal document that defines the agreement between you and the other party, that will stand up in court. Without it you have nothing to fall back on if the deal somehow doesn't work out.
2007-09-04 05:43:06 · answer #2 · answered by mccoyblues 7 · 0⤊ 0⤋
Simply write up a bill of sale.
A bill of sale is simply and agreement between the two parties indicating the transfer of property.
Just write some statement indicating the trade of vehicles and have both traders sign and date the bottom of the document.
It would also be nice if you had third party witnesses to sign the bill of sale too.
2007-09-04 05:21:27 · answer #3 · answered by hsueh010 7 · 0⤊ 0⤋
Yes, I would get one to be on the safe side.
If the new owners of the car fail to register it with DMV and provide insurance for it, the liability can fall back on you. With a bill of sale, you can prove to DMV that you did sell it.
2007-09-04 05:25:09 · answer #4 · answered by Flip's Girl 4 · 0⤊ 0⤋
Yes you need a bill of sale. So does the other party. it's private transaction so you do need one. You can obtain one from your local DMV. they should have them there.
2007-09-04 05:21:15 · answer #5 · answered by falconwolfzero 2 · 0⤊ 0⤋
State of Michigan allows 15 days to register a title for a vehicle. However, it states the vehicle can be driven from the place of purchase to your home. Call the State Police Department.
2016-05-21 01:48:57 · answer #6 · answered by ? 3 · 0⤊ 0⤋
No, just sign over your titles. IF you want DMV usually has a BoS form on the internet. Or you can always write on a piece of paper and make them sign.
2007-09-04 05:20:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋