![]() ![]() The bill of sale is also a key reminder of the terms and conditions of the purchase should any difficulties come up with the item that were not outlined in the original agreement.Īdditionally, the bill of sale can protect from certain liabilities – showing that the property transfer actually took place. ![]() The buyer needs the original bill of sale in most states in order to obtain a title and register their vehicle or livestock purchase. Why the buyer should keep the original bill of sale. ![]() Learn why it’s important for both parties. Typically, the buyer should keep the original and the seller should keep a copy. This document protects everyone involved should any disagreements arise in the future. The short answer is that both the buyer and seller should retain the bill of sale for their records. The seller is responsible for drawing up the document, but who should keep the bill of sale once the terms are settled, the documents signed, and the transaction finalized? It frees the seller from liability and proves the buyer’s ownership. Now what?Ī bill of sale certifies a big transaction - usually of a large purchase like a vehicle or livestock. The buyer and seller have just signed the bill of sale. ![]()
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