What Is a Horse Bill of Sale?
Horse bills of sale are legal documents used to record the transition of ownership over a horse. Such agreements can be signed by individuals or privately-owned companies, while public businesses aren’t allowed to use bills of sale. Mind that bills of sale don’t necessarily involve selling the asset at its maximum value; such documents allow for presenting gifts and trading in.
When designing a bill of sale template, one must ensure that the document includes all necessary details. Otherwise, the bill may not obtain legal value, and the sides may face issues with the law. When designing a bill of sale, make sure to include personal information of both parties, such as their names, mailing addresses, and emails. It’s highly suggested to provide mobile phone numbers as well.
How to Compose a Proper Horse Bill of Sale?
Creating a horse bill of sale form requires conducting some research on the local laws of your state and county. However, the overall procedure is quite simple and would require you to complete a few simple steps:
- Specify the date and participating sides. Every horse bill of sale form should begin by stating the date when the contract is being signed. The following sentence commonly specifies the names of the buyer and seller, their mailing addresses, and emails.
- Describe the horse itself. A bill of sale should include the horse’s name (if any), gender, breed, and date of birth. In addition, the sides must ensure that the bill contains a detailed description of the horse, including its health condition and appearance.
- Outline the payment details. Bills of sale must clearly define the price of the purchased asset in both words and numbers. Mind that the horse must be examined by an independent veterinarian; if the examination is yet to occur, specify the date when it should happen.
- Fill in the security deposit section. If the buyer isn’t transferring the whole sum at the moment of signing the deal, you should negotiate on the security deposit. Make sure to specify which state’s laws will be governing the transaction.
- Sign the document. Horse bills of sale should include the signatures of both involved parties along with independent witnesses (if any). Engaging witnesses isn’t necessary, though it’s always encouraged. This section also includes the date of signing the document.
- Hand the document to the public notary (if necessary). When the public notary is involved, both parties should provide their identification documents and allow the notary to submit the required information.
If you aren’t sure how to fill out a document that would follow the regulations of your state, consider checking out our database. We deliver a wide choice of downloadable, printable PDF forms for all types of property. Every template is available for free, with no need to register on the website. If you can’t find a document that would suit your needs, use our free form builder to create a highly personalized solution.
Why Use Horse Bill of Sale When Selling Equines?
Horse bills of sale are extremely useful for preventing legal disputes that may arise and resolving ongoing ones. These documents can serve as proof of ownership, so any person holding a bill of sale for a given asset is considered its rightful owner. On the other hand, sellers who use bills of sale ensure that they won’t be held accountable for any damage that occurs to the item sold. A horse bill of sale can be quite a useful supportive document when you need to prove that you hold valuable assets. For instance, when qualifying for a loan or providing a tax statement, the bill would be enough to prove ownership.
Purchasing a Horse with a Bill of Sale
When buying a horse, it’s essential to consider your reasons for obtaining this asset. For instance, a calm family horse for kids would cost significantly less than an equine bred for racing. After defining the initial budget for the purchase, consider all recurrent expenditures, including food, shelter, vet costs, insurances, and taxes. Once you’ve got the financial matters covered, choose a trustworthy seller. It’s highly suggested to review sellers’ records before meeting them in person.
All horses that you purchase should be tested first-hand. The best strategy is, of course, to ride the horse yourself and see how it behaves. You should also ask for a comprehensive health record of the horse, including the history of injuries and illnesses.