When trading all-terrain vehicles (ATVs), the sides mainly utilize an ATV bill of sale form to record the transition of ownership. Such documents provide both participants with a legally recognized proof of the transfer, lifting the liability for the vehicle from the seller. Bills of sale have multiple advantages and should be utilized whenever buying or selling ATVs.
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Explaining the Concept of ATV Bills of Sale
Similar to all other types of property, ATVs can be traded using bills of sale. An ATV bill of sale is a legal document used to record the transition of ownership over a given vehicle. Such documents can be utilized by individual buyers and sellers or privately owned businesses. A bill of sale includes a comprehensive set of data about the transaction, the participating individuals, and the vehicle being sold.
Bills of sale provide a convenient and simple way to record the transaction, which is why they are so widespread among sellers. To obtain legal value, the bill must follow official requirements, which may vary from one state to another. Make sure to check your local laws before filling in a free bill of sale template since your state’s and county’s regulations may require including specific information. For instance, some states mandate recording the transition of ownership in front of a public notary or independent witness. You aren’t always required to sign a bill of sale when trading ATVs; in some states, the decision is completely up to you.
Why Use Bills of Sale When Trading ATVs?
Although you may not be legally obliged to use a bill of sale, it’s still highly suggested to do so. These documents provide both a buyer and a seller with a reliable and simple way to record the exchange of an ATV. Buyers are required to provide the bill to register newly obtained ATVs with the local Department of Motor Vehicles. Sellers can use bills of sale to emphasize relinquished responsibility whenever needed. For instance, if a given ATV was somehow involved in a crime, a valid bill of sale would lift the liability from the seller.
How to Sell an ATV With a Bill of Sale?
Selling ATVs with bills of sale is fairly simple and resembles trading usual cars. Here’s what you should do to sell your ATV successfully:
- Make all necessary repairs. To get a maximum possible price for your ATV, you’ll need to repair all poorly functioning parts of the vehicle. In addition, marketing an ATV in a decent condition would be much simpler than a broken one.
- Prepare the vehicle for sale. Once all major repairs are completed, pay attention to smaller flaws, such as rust, old stains, and dirt. Since ATVs are mainly used for off-road driving, you may need to spend a significant amount of time cleaning it. After removing the dirt, pick some photos of your vehicle to list it for sale.
- Obtain the most up-to-date documentation. This includes the title, registration, insurance, and purchase receipt. You’ll need these documents to prove that you are the vehicle’s rightful owner.
- Market your ATV on all available platforms. It’s suggested to use all platforms you can reach to advertise the offer, including websites, themed magazines, and, of course, word of mouth. The offer itself should contain a detailed description of the lot to attract potential buyers.
- Meet with a buyer to negotiate on the price. At this stage, the parties should come up with a purchase price and a suitable payment method. An ATV bill of sale form allows using almost any way to transfer funds, including cash, checks, and promissory notes.
- Finalize the deal through signing a bill of sale. Meet with the buyer to sign the bill of sale and finish the transaction. At this stage, the seller transfers keys to the vehicle along with all necessary documents to the buyer. Depending on the predetermined payment terms, the buyer has to pay either the full price or any pre-arranged part.
- (For the buyer only) Register the newly obtained vehicle. The buyer is obliged to register an ATV with the local Department of Motor Vehicles.
Designing a Proper ATV Bill of Sale Form
Mind that a bill of sale must contain a set of information to be considered legally valid. Proper forms are referred to as state-authorized, and they can be obtained at the local DMV. You can also design such a document yourself in any text editor. Necessary data on a bill of sale includes the names, mailing addresses, and emails of the sides, the date of transaction, and the ATV’s description.
If you aren’t sure whether your document satisfies the official requirements, consider downloading our printable PDF template to avoid any legal disputes. All the forms on our website are available free of charge. You can also design a custom solution using an in-built form builder.