A bill of sale is a legal form used across the United States when individuals sell their possessions privately. The Iowa bill of sale form serves a function of a receipt for transactions made in Iowa because it records the deal’s price and date.
Bills of sale are versatile forms adaptable to various deals, although, in Iowa, they are needed when the following items are sold:
What Is a Bill of Sale in Iowa?
Private parties fill out the bill of sale form to document a deal they are making to sell used items in Iowa. Any bill of sale would include the following:
- Seller’s information
- Buyer’s information
- Item details
- Price and date of sale
The item should always be described in detail, and the parties should be easily identified by the information given about them in the bill of sale form. The price should be the actual selling price, as agreed on by the parties and paid by the purchaser.
Iowa Bill of Sale Types
Various kinds of deals happen in the state of Iowa every day, and many of them are private deals when the seller advertises the used item themselves and organizes the deal. Read this section to learn about the most commonly used types of bills of sale.
Iowa Vehicle Bill of Sale
In Iowa, if you purchase a car or another motor vehicle privately, you can create an Iowa vehicle bill of sale and share the copies between the buyer and the seller.
Iowa Watercraft Bill of Sale
When you sell or purchase a vessel in Iowa, you may want to secure the transaction by filling out a watercraft bill of sale.
Iowa Firearm Bill of Sale
Private transactions of firearms are the ones you should probably be most careful about, considering that an accident involving the sold firearm may occur in the future. Signing a bill of sale by both the seller and the buyer is considered good practice when trading a gun.
Why Do I Need a Bill of Sale?
Bills of sale may serve numerous purposes, and every individual chooses why they need one according to the type of transaction and the circumstances of the deal. Generally, a bill of sale provides legal security to the parties because it clearly describes all details of the deal, such as the parties’ names and the description of the item. Purchasers and sellers will not need to worry about proving ownership or lack of liability for the item if an accident arises.
Iowa Laws and Requirements
Iowa registering procedures do not typically involve the Iowa bill of sale form, although some countries advise to have them and give one to the buyer after the deal. Nevertheless, individuals may use it when the title is not available, for example, or when the buyer has not completed the registration process.
As for the laws and regulations for registering vehicles, vessels, and firearms, Iowa does not require registering firearms at all, while the other two types of items need to be registered properly. We should note that you will need a permit to carry a firearm. The application should be submitted to the sheriff in your county.
Provide applications and pay registration fees for registering a newly bought vehicle or a vessel in the state of Iowa. Find out the details on the Iowa Motor Division website and the Iowa Department of Natural Resources website.
Do I Need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Iowa?
You can go through all registering procedures for a vehicle in Iowa without providing a bill of sale. When you register a vessel, you will be asked to provide proof of ownership or a bill of sale. This is just one of the applications for a bill of sale. Even though you are not obliged to create one, it still brings a lot of benefits to both parties, especially if accidents, such as theft, arise in the future.
Creating a Bill of Sale in Iowa
Use our form-building software to generate the Iowa bill of sale form. Follow these stages:
- Describe the Item.
Provide a complete description of the item: its identification number (if applicable), its make, model, and year of manufacture.
- Print the Seller’s and the Buyer’s Names
Insert full names of both parties into the form.
- Specify the Date and the Selling Price
This is crucial information that you must carefully check.
- Provide Main Information about the Seller and the Buyer
These sections will incorporate the full names and mailing addresses of the seller and the purchaser.
- Sign the Form
Include the date of signing and put your signature next to it.
- Let the Notary Public Sign the Form (If Applicable)
In certain cases and some counties, you may be asked to notarize a bill of sale.