What is a Bill of Sale in Maryland?
When selling or gifting your private property, it is important to record the transfer of possession. The Maryland Bill of Sale Form is used as legal proof that the transaction has occurred, and both parties mutually agreed on the conditions indicated in the paper. After the certificate is signed and dated in front of a legal notary, both the trader and purchaser are afforded a copy.
Keeping a Bill of Sale protects you from undesirable future situations and arguments about the property specified in the document.
Maryland Bill of Sale Types
A bill of sale template may be created when selling personal possessions, including electronic devices, furniture, or animals. However, the most common types of this document are the following:
- Vehicle Bill of Sale
No matter whether you obtain a motor vehicle with a licensed dealership or from an individual, the BOS will serve as evidence that the original owner has conveyed you the rights to the vehicle. Both parties have to sign the paper in front of a legal notary and submit it to the local MVA office to register and title the acquired vehicle.
- Boat Bill of Sale
This paper is completed when selling a motorboat, either commercial or recreational. It will be required to initiate the vessel titling and registering procedures if the boat is equipped with a motor engine and used on Maryland waterways most in a calendar year. The paper contains HIV, hull material, fuel type, and other details about the watercraft.
- Gun Bill of Sale
In the state of Maryland, you are not obliged to create a BOS when you intend to obtain a firearm. However, the document will protect both the seller and purchaser from dealing with individuals who have been involved in unlawful acts or are not legally able to keep a deadly weapon due to other causes.
Why do I need a Bill of Sale?
The Maryland Bill of Sale Form is important to create and keep because of a number of reasons:
- Both parties feel more secured. For example, if the vehicle acquired has previously been involved in an unlawful act, you can prove not to be the owner at the time of the crime. As a seller, you will not be liable for any accidents with the vehicle when you are no longer entitled to be its owner.
- It is required for registration. Some property types need to be registered in the state, and a Bill of Sale will evince that you possess the item.
- Legal assistants recommend keeping Bills of Sale for personal records.
Maryland Laws and Requirements
In Maryland, a Bill of Sale created in any other language except English will not be accepted. If sellers or purchasers are not English-speaking citizens, they may complete the paper in another language but translate the document to make it effective. The vehicle, gun, and boat bills of sale are supposed to be witnessed and authorized in the presence of a notary public.
Do I need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Maryland?
- You should register a vehicle in Maryland Motor Vehicle Administration. MVA requires a Vehicle Bill of Sale to be submitted as proof of ownership for a car (motorcycle, trailer, or another motor transport) less than seven years old. You may apply for registration through certified mail or appear at your local MVA office in person. It is required to attach an Odometer Disclosure Statement as well.
- When registering a vessel in Maryland, provide necessary documentation mentioned on the Maryland Department of Natural Resources official website, including a Boat BOS. The appropriate tax should be paid within 30 days after acquisition. If an individual uses their vessel, registered in another state, 90 days or more, it may be necessary to get the boat registered in Maryland. The documents for the application can be mailed or presented in person.
- According to Maryland firearm policy, you do not need a BOS to obtain and keep a gun. However, the buyer must complete a Maryland State Police Application and Affidavit to Purchase a Regulated Firearm prior to getting a firearm. You are allowed to purchase guns only through licensed dealers and only if you are 21 or more years of age.
Creating a Bill of Sale in Maryland
Use our form-building software to get your personalized Bill of Sale form. No matter what type of Bill of Sale you are creating, it will contain the following data:
- Information about the Parties
The buyer and the seller have to input their full names, residential addresses (including city, state, and zip), and telephone numbers. In some type of paper, you have to provide the driver’s license number.
- The Item Description
Depending on a particular property being sold, it will be required to submit its year, make, model, ID (or serial) number, and any additional information. Indicate the selling price both parties have agreed upon. If the item is being traded or gifted, write it down as well. If applicable, attach warranties or disclosures.
Sellers and buyers date and sign the document voluntarily and under no coercion. A licensed notary is supposed to verify all data, authenticate the paper, and provide their commission expiration date.