In the United States, most of the purchase and sale operations are accompanied by signing a bill of sale form that serves as legal evidence of acquiring certain property and protects an individual’s proprietorship rights. The free bill of sale template (also known as BOS form) varies from state to state. However, all states are unanimous that the form should contain the basic information about the transaction: the purchaser’s and the seller’s personal details, the description of an item, the date on which the deal took place, and signatures from both parties.
What is a Bill of Sale in Kentucky?
In the state of Kentucky, like in any other state, the form proves that the purchase of a certain personal property item has taken place and confirms that the buyer has taken possession of the property under discussion legally. In contrast, the seller is liberated from liability for it. After the acquisition, terms are specified, and the form is signed and notarized; the parties cannot make any claims against one another.
When buying personal property (a car, jewelry, furniture, TV set, or any other property item) from a licensed dealer, you will be given a retail receipt. While obtaining an item from an individual, the only proof you have is oral negotiations. That’s why, in Kentucky, it is recommended to create a form, which may come in handy during the registering procedure as it contains the necessary details.
Kentucky Bill of Sale Types
Depending on the type of property item, there are several common forms used in the state of Kentucky.
- General Bill of Sale
If you are seeking a universal template, choose the General BOS. It is typically completed if you decide to sell or purchase any kind of personal property (such as a mobile phone, a laptop, a camera, a TV set). However, do not use it for motor vehicles, boats, guns, and horses: for these items categories, there have been generated specific forms.
- Bill of Sale for Motor Vehicles
In Kentucky, a motor vehicle bill of sale form is required during a motor vehicle transaction. It proves that the two parties have agreed to all the terms. The seller can specify whether they sell, trade, or give the vehicle as a gift. The parties need to have the form authorized by a notary public.
- Vessel Bill of Sale
Kentucky residents can use this type of BOS form when they decide to protect their proprietorship rights to a vessel. Like a vehicle BOS, the document requires that a notary agent signs the form. It can be useful during a watercraft registration.
- Firearm Bill of Sale
This form, like those mentioned above, cannot be valid without notarization. It is not mandatory but recommended that the parties create the paper when the purchase deal is taking place. If the gun you have sold to an individual gets involved in a serious crime, a bill of sale will serve as proof that you are no longer the owner and cannot be responsible for it.
Why do I need a Bill of Sale?
As we have stated above, the form is commonly used in Kentucky when selling and purchasing a motor vehicle, vessel, or firearm. Apart from adding an extra level of protection of rights, the document may serve another purpose. Those who buy the aforementioned property types from an individual (not licensed dealers) need to provide the signed document to complete the registration procedure. Registration is required for you to have a legal right to operate the property in the state.
Kentucky Laws and Requirements
As for the transfer of motor vehicle or boat ownership rights and registration, you can find essential information in Chapters 186 and 186 A of the state law. This section clearly states that you need to have a vehicle or watercraft registered within 15 days after purchasing to operate it legally on state roads or waterways.
Do I need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Kentucky?
- Yes, the bill of sale is included in the documentation package required for registering a motor vehicle in Kentucky. Apart from the BOS, provide Form TC 96-182 to apply for registration procedure or title certificate.
- Provide the BOS form when you register a boat in the state of Kentucky. Do not forget to attach an application form as well.
- Guns, as a rule, are not registered in Kentucky. Although no particular registering procedure is required, there are special rules concerning gun ownership. If you decide to register your gun to obtain a CCW license, you do not need to submit a bill of sale form.
Creating a Bill of Sale in Kentucky
The instructions below are meant for those who decide to complete a bill of sale form and make the process quick. Make use of our form-building software to download a relevant BOS file.
- Information about the Parties Involved
The first step is to provide personal info about the seller and the buyer. Add the buyer’s and the purchaser’s full names, their residential addresses, phone numbers (if necessary), and their driver’s license numbers as a form of identification (if applicable).
- Description of the Item
Indicate what type of property is sold and purchased. Provide detailed information about the item: VIN (for a motor vehicle), Hull ID (for a watercraft), caliber and serial number (for guns), model, make, color, production year, and other features. Write the selling price or indicate what item it is exchanged for.
- Signatures and Notarization
Once both parties have inserted and checked the information regarding the transaction, they can place their signatures and the date of the deal and let a notary agent authorize the document.