What Is a Bill of Sale in Arkansas?
Think about the Arkansas bill of sale form as a form of a receipt given by a private seller to a purchaser. Most importantly, a bill of sale is the legal evidence of the buyer taking ownership and the responsibility for the goods. If an accident happens, or the buyer uses the bought item illegally, the bill of sale could provide a way to trace the ownership. This is especially relevant when the item is a firearm.
The bill of sale is typically created during the transaction or straight after. Using the Arkansas bill of sale form is an easy and straightforward way to secure your rights after a private purchase. It is recommended that you create one for any meaningful ownership transfer of goods, but especially when it comes to large or expensive objects, such as vehicles and boats, or firearms, as they pose a risk of the buyer mishandling them.
Arkansas Bill of Sale Types
You can create a bill of sale in Arkansas for any type of goods. The most commonly used types of bills of sale are described in this section.
Arkansas Vehicle Bill of Sale
The bill of sale confirms the transaction of a vehicle in Arkansas. It releases the seller from the liability for the vehicle and makes the buyer accountable for it in the future. It means that in the situation when the vehicle damaged another vehicle or an individual, it is going to be much easier to prove that the seller was not responsible for it at the moment of the accident, for example.
Arkansas Watercraft Bill of Sale
Similar to the vehicle bill of sale, the watercraft bill of sale in Arkansas serves as the proof of transfer of the rights to the watercraft and releases the seller from any liability.
Arkansas Firearm Bill of Sale
Firearm bills of sale are extremely important when it comes to releasing liability. If a firearm is used illegally, the consequences will apply to the person to whom the rights have been transferred.