![]() ![]() 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. It can also protect you from future liabilities involving this vehicle and from persons making a claim of ownership. ![]() When buying or selling any of these items a Tennessee Bill of Sale helps document the time, price and details of the transaction, but also stipulates the condition, mileage, hours, type, and warranties of the item. Other less common items includes ATVs, dirt bikes, UTVs, golf carts, snowmobiles, moped, lawnmowers, and even farm animals. The most common items which require a bill of sale are cars, boats, motorcycles, and trailers however the list is virtually endless when you consider all of the items that we buy and sell everyday. When the purchase is atypical or from a private seller, a receipt may not be available so you must look to a Tennessee Bill of Sale in order to document the transaction. Usually this is in the form of a receipt which documents the goods purchased, the price and date. Whenever making a large purchase or sale it is always prudent to get evidence of the transaction. ![]()
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