What is a Bill of Sale in Maine?
The Maine Bill of Sale Form serves to certify that transmission of ownership from one individual (or entity) to another has taken place. The form is used when conveying the rights to any type of personal property, including motor vehicles, vessels, firearms, and other possessions. The personal data of both the seller and the purchaser is found in the bill of sale template.
Registration requirements in each state are different, but bills of sale normally have to be presented to title the property in your name. The creation of this document protects both parties from unwanted legal arguments that might take place over the property in the future.
Maine Bill of Sale Types
- Vehicle Bill of Sale
This form is necessary when committing a motor vehicle sale and purchase procedure, including trailers and semi-trailers. This form is used as proof of ownership when applying for vehicle registration. It is required to authenticate the paper by a notary public in the state.
- Boat Bill of Sale
You want to create this document to indicate that there has happened a transaction of a watercraft. You will find both parties’ personal information in the form, as well as a detailed description of the vessel you are selling (or acquiring) and the selling price.
- Gun Bill of Sale
Such a paper is essential when a purchaser is obtaining a firearm from another individual. Both parties will have to prove they have no serious criminal records and are legally capable of keeping and operating a deadly weapon.
- Horse Bill of Sale
This document will contain information about the breed and veterinarian’s examination of the horse being sold, adding an extra level of safety for the buyer. The seller is also protected by the paper in case there occur questionable issues about the horse’s medical condition.
Why Do I Need a Bill of Sale?
A Bill of Sale is mainly used when selling a type of property. The information indicated in this form is necessary to be kept for personal records, especially when selling valuable items. However, this paper may also be used for other transactions, including gifts, exchanging personal property, or giving possessions as mortgages to get a loan.
Bills of Sale are used as evidence of transferring ownership, serves as a security for the payment of money, claims that the previous owner is no longer responsible for anything that might happen with the item (for instance, a car accident because of the purchaser’s negligence). They are often required for the further registration of property you have obtained.
Maine Laws and Requirements
It is almost always required that the Maine Bill of Sale Form is witnessed and authenticated by a licensed notary. Depending on the language the seller or the buyer speaks, the form may be created, not necessarily in English. However, a translated document should be submitted for registration. Provide both parties of the agreement with a copy of a paper (the buyer will receive the original). Additional copies are generally not needed.
Do I Need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Maine?
- An individual should provide the Vehicle Bill of Sale when applying for registration at the local DMV. The BOS does not constitute ownership on its own but states the transfer of the title.
- You will need to submit the Boat Bill of Sale to register your newly-acquired watercraft in the state of Maine. If a person has moved recently, they will have 60 days to apply for registration.
- There is no registration of guns in Maine. You do not need to have a license or owner’s permit to keep a firearm as well. The Gun BOS does not need notarization in this state.
Creating a Bill of Sale in Maine
Use our form-building software to create a personalized BOS. The following information will be found in the form:
- Both Parties’ Data
The form will contain the seller’s and purchaser’s personal information, including their full names, mailing addresses, emails, and mobile numbers.
- The Appliance Description
The details about your item (such as year, make, and model) are supposed to be indicated in the paper.
- Details of the Agreement
The selling price, date, and signatures are necessarily provided in each type of BOS. Signing the paper, all individuals confirm not to have made false or misleading statements. Deliberate submission of incorrect information may result in punishment.