Who Needs A Bill Of Sale
Having a DMV bill of sale on hand may prove to be invaluable for both ends of a transaction. For the seller, for instance, a reliable bill of sale document is usually necessary for his or her own records. By providing a completed vehicle bill of sale, the seller proves that he or she does not own the motor vehicle in question, thus avoiding any liability for the operation of the car upon the sale. Therefore, it is highly recommended for sellers to keep a notarized copy of these certificates in order to avoid any future inconvenience.
Buyers, on the other hand, may be obliged to submit a valid bill of sale form in order to finalize the title transfer and register their newly purchased vehicle. Even if this is not the case, purchasers may still consider obtaining this document, as the details listed on the form, including the vehicle identification number or purchase price, may contribute to the facilitation of future vehicle-related legal procedures.
How To Transfer A Car Title When The Owner Is Deceased
The vehicle title transfer process is necessary for beneficiaries who wish to keep the vehicle of the deceased individual. Joint-owners of the vehicle, beneficiaries, and surviving spouses have the authority to legally transfer the title of a vehicle to another person after the owner has passed away.
The process for transferring a vehicles title depends on whether the vehicles title was in the individuals name as the descendant or whether there was a joint ownership. If the vehicles title was only in the descendants name, you are responsible for determining if the estate is being probated.
The legal process that administers the estate of a deceased individual according to their will is known as probate. This legal process occurs if there is no beneficiary or living spouse listed on the will.
If the vehicle is part of a probated estate, you need to follow these steps to successfully transfer the vehicle title of a deceased individual:
How To Fill Out The Illinois Bill Of Sale Form
In Illinois the Bill of Sale Form is composed of three sections and below youll see you how to fill out this form:
Section 1
The first section contains the vehicle information Make, Model, Year, Style , Color, VIN or Vehicle Identification Number. Further fill out Odometer Reading at the time of transfer , seller registration number. Following answer if you previously filed an application for title of this vehicle:
Section 1 of the Illinois Bill of Sale
Section 2
At the Section 2 you will have to fill out first the Seller information. This means the full name of the seller . Then sellers street address, sellers city and state. Further you will need to fill out the Buyer information the full name of the buyer. The buyers name must be PRINTED this means to use only Capital Letters to write BUYERS NAME. Additionally fill out buyers street address, buyers city and state. After these details you will have to write the sum of the transfer price of the vehicle or the word GIFT. Subsequently, if this vehicle was a gift, you need to indicate the relationship with the buyer :
Section 2 of the Illinois Bill of Sale
Section 3
The third section contains the sellers statement about the details contained in this Bill of Sale. Finally complete the sellers signature and date:
Section 3 of the Illinois Bill of Sale
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Illinois Trailer/rv Bill Of Sale
All trailers in Illinois need some type of registration and license plate. Which type of license plate you get and the fees you pay will depend on the type of trailer or RV you have. If your RV is the driveable type, you will follow the instructions for registering a motor vehicle.
You dont have to have a bill of sale for a trailer, but its still a good idea. If you use a trailer bill of sale template or create your own, it should include the following information:
- Name and address of seller
- Name and address of buyer
How To Transfer Ownership Of A Vehicle Without A Title In Illinois
If you have lost your vehicles title, or it has been stolen or damaged, you must request a duplicate vehicle title by completing an Application for Vehicle Transaction. This form is available at your local Illinois SOS office.
Residents of Illinois are required to pay a $95 fee for a duplicate vehicle title. If you require expedited services, you must pay an additional $30 to receive a duplicate vehicle title within one business day.
If you require a lien removal from your duplicate vehicle title, you can do so by submitting an official lien contract letter stating the debt was paid in full or by submitting a court order stating the lien was paid in full.
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Motor Vehicle Bill Of Sale
1. THE PARTIES. This transaction is made in the County of , State of , on , by and between:
Buyer: with a mailing address of , and agrees to purchase the Vehicle from:
Seller: with a mailing address of , and agrees to sell the Vehicle to the Buyer under the following terms:
2. VEHICLE DESCRIPTION.
Make: Model: Body Type:
Year: Color: Odometer: Miles
Vehicle Identification Number :
Hereinafter known as the Vehicle.
3. THE EXCHANGE. The Seller agrees to transfer ownership and possession of the Vehicle for:
Cash Payment. The Buyer agrees to pay $ to the Seller.
Trade. The Buyer agrees to pay $ and trade the following:
Make: Model: Body Type: Year: Color: Odometer: Miles
As a Gift. The Seller is giving the vehicle as a gift to the Buyer. The value of the vehicle is $.
Other. .
Hereinafter known as the Exchange.
4. TAXES. All municipal, county, and state taxes in relation to the sale of the Vehicle, including sales taxes, are paid by the:
Buyer and not included in the exchange.
Seller and included as part of the exchange.
5. BUYER AND SELLER CONDITIONS.
The undersigned Seller affirms that the above information about the Vehicle is accurate to the best of their knowledge. The undersigned Buyer accepts receipt of this document and understands that the above vehicle is sold on an as is, where is condition with no guarantees or warranties, either expressed or implied.
6. AUTHORIZATION.
Print Name: ________________________
Why Use 360 Legal Forms For Your Vehicle Bill Of Sale
Customized for you, by you
Create your own documents by answering our easy-to-understand questionnaires to get exactly what you need out of your Vehicle Bill of Sale.
Specific to Your Jurisdiction
Laws vary by location. Each document on 360 Legal Forms is customized for your state.
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Illinois Car Bill Of Sale
Illinois doesnt require a bill of sale and the state doesnt have a standardized form for one. But, that doesnt mean you cant create your own as proof of the transaction to protect your interests.
Any vehicle bill of sale template or document you create should include the following information:
- The sellers name and contact information
- The buyers name and contact information
- The vehicle make, model, year, color, VIN, and odometer reading
- The date of the sale
- The purchase price
- Signatures of both parties
If you are looking for a reliable vehicle bill of sale template, you can download the one created by PandaDoc. Using our service, you can even complete and digitally sign your document for convenience.
What To Do With Your Vehicle Bill Of Sale
Once executed, the purchaser and seller should keep a signed copy of the Vehicle Bill of Sale for their records. As a buyer, you may need the Vehicle Bill of Sale to transfer the title in your name.
A Vehicle Bill of Sale does not need to be filed with any local or state records office since it is a private contract. However, a Vehicle Bill of Sale is required to register a motor vehicle in most states. In those cases, a copy will be needed for the DMV for the registration process.
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How To Get A Bill Of Sale In Illinois
An Illinois bill of sale is a legal document that records a vehicle sales transaction between a seller and a buyer. A vehicle bill of sale generally contains important details pertaining to the vehicle in question and personal information both about the seller and the purchaser.
Though a car bill of sale is not required for completing a car title transfer, this form may prove helpful in many other situations. While a buyer can generally utilize this form to prove he or she is the current owner of the vehicle in question, the seller can use it for the purposes of resolving any future disagreements also related to the ownership of the vehicle.
A special bill of sale form in Illinois is currently offered by the Vehicle Services Department and is meant for vehicles that need to be sent to a salvage yard. For more information about where to get these documents and how to complete them, review the following sections.
How To Complete A Bill Of Sale Form
Though some U.S. states may have specific requirements about what to include in а bill of sale copy, most certificates of sale require details that pertain to the seller and purchaser, as well as the vehicle in question. When completing a bill of sale form, you will generally need to include the following information:
- A motor vehicle description .
- Personal information about the seller, including name and address.
- Personal details about the buyer.
- The sellerâs and buyerâs signatures.
- Date of sale and selling price.
Note: When completing a Florida blank bill of sale, you will also be obliged to provide the odometer disclosure statement in addition to the aforementioned information. Failure to do so may lead to severe penalties, including steep fines and/or a jail sentence.
Specific U.S. states, such as Florida, California and Connecticut offer a printable bill of sale form through their motor vehicle agencies. To obtain a bill of sale template , visit the official website of your state motor vehicle agency or contact a nearby DMV location for further details.
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Illinois Horse Bill Of Sale
Unless you plan on racing or breeding your horse, you wont have to register it with the state. The Illinois Department of Agriculture does have a program to keep track of horses for these purposes.
However, because horses are costly investments, its a good idea to have a bill of sale when you buy or sell one. You can find a horse bill of sale template online or create your own. It should include the following information:
- Name and address of buyer and seller
- Horse information: name, color, age, breed, height
- Signatures of both parties
How To Transfer A Vehicle Title Without Probate
In Illinois, the deceased persons property cant exceed a specific amount and a certain amount of time needs to pass since the person has passed away before the Idaho vehicle title transfer process can be initiated.
When there is no probate involved, the joint-owner, spouse, administrator, or beneficiary may only need to submit the death certificate and the vehicles title to the title office, and the vehicles title can be retitled. There is no court order or attorney required for this process.
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Prepare Bills Of Sale For Both Yourself And For The Buyer
Consider the bills of sale the receipt for the sale or purchase of the vehicle. As Illinois does not provide an official bill of sale, youll have to come up with your own, and there are a number of templates available online. Any bill of sale should include both the buyers and sellers full name, address, phone number, drivers license number, and signatures, along with the vehicles make, model, year, color, VIN, and odometer readout at the time of sale. Be sure to also include the date of the transaction and the sale price.
While the buyer may bring their own bill of sale for you to fill out, its prudent to come to the table with two blank copies of your own bill of sale document ready to be filled out one for you, and one for the buyer. After the transaction, keep your copy of your bill of sale in a safe place in case of unforeseen problems with the title transfer or vehicle registration after the sale. Information about the buyer included on the Bill of Sale is necessary for completing the Notice of Sale.
Sell My Car In Chicago
An estimated 3.5 million cars are registered in the city of Chicago. When we compare that number to the city’s population of 2.8 million, we find there are nearly 26% more cars than people! So why does selling a car in the Windy City seem so difficult?
We’ll discuss everything you’ll need to handle the DMV and how to advertise with a purpose in a big city like Chicago. Grab a pen and paper– you’re going to want to write these down.
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Mail The Notice Of Sale Form
Once the car is no longer legally yours, you want to let the state of Illinois know that so youre not on the hook for it anymore.
You can use the Notice of Sale at the bottom of your title or use this Sellers Report of Sale form and mail to:
Secretary of State
Record Inquiry Section 501 S. Second St., Rm. 408
Springfield, IL 62756
On top of that, be sure to either update or cancel your car insurance. Your part will be done, but be aware that the buyer also needs to send title and tax info to the state of Illinois within 20 days. When the buyer does that, the whole process of selling a car will be complete.
How To Sell A Car In Illinois
Every day across America, cars are being bought and sold, whether at a dealership or in a private sale. So when it comes time to sell your used car, these are your primary options. The benefit of selling to a dealer is that they handle the paperwork. Essentially, you show up, sign the papers, and youre finished.
This convenience does, however, come at a cost. When you sell to a car dealership, you often wont get the best price, as they typically have to perform some maintenance on the vehicle to prepare it for sale and then wait to sell the car and hope to turn a profit. So when you sell your used car to a dealer, youre often leaving money on the table.
If possible, you should consider a private sale, as it may be a more lucrative option. You can often get significantly more than a dealer would give you for trade-in value by selling directly to a buyer. But this increased profit margin also comes at a cost, as you will then have to take care of the legalities on your own.
Selling a car is a relatively simple task, but each state has its own unique guidelines to adhere to. Thankfully, the State of Illinois makes things remarkably simple. Heres a complete guide to selling your car in Illinois.
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Sale Contract Vs Bill Of Sale
Make sure you understand the differences between a sale contract and a bill of sale when deciding which document you need.
A sale contract:
- Is executed between a buyer and seller.
- Details the terms for a buyer to agree to purchase an item and a seller to agree to sell it.
- Records the future sale of an item. A sale contract is used before an exchange of an item occurs.
A bill of sale:
How Can I Write A Bill Of Sale
Some county tax assessor-collector’s offices or local DMVs provide bill of sale forms that you can use. Some sellers also choose to create their own bill of sale. Since requirements vary by state,check your state’s requirements to make certain your document complies with them. In some states, only the buyer needs to sign the bill of sale. Other states will require both the seller and buyer to sign. Requirements for notarization also vary among states.
Include the following essential pieces of information:
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Accept Payment And Hand Over The Signed Title
Once you have a serious buyer and you agree on a price, its time to accept payment and transfer the vehicle title. Get your money and hand over your vehicle title with your signature and the date. The buyer will need to sign and date as well.
You also want to get the buyers info such as full name, address, and contact information in case there are problems down the road.
Youll need to submit an odometer disclosure as part of the title transfer. Give the buyer a Bill of Sale and keep one for your records as well. Lastly, you want to remove the license plates before handing over the vehicle to the new buyer. Your plates stay with you.
Who Needs An Illinois Bill Of Sale
An Illinois bill of sale template displays essential information about the transfer of the vehicle in question, and it may prove to be invaluable for both parties of a vehicle transaction. If you are the seller, a simple bill of sale may protect you from future legal disagreements, especially when you are trying to avoid any liability for a traffic violation committed upon the sale of the vehicle.
The form will also contain important information about the vehicle and buyer that the seller would not otherwise have access to. Possessing a valid vehicle bill of sale in Illinois is important for the buyer as well, as he or she can use form and confirm he is the current legal owner of the vehicle, if necessary. Buyers may also need to furnish a completed form during certain vehicle-related proceedings for vehicles not purchased from car dealerships.
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