Individuals need a legitimate instrument recording the transfer of the rights to an object from one individual to another. It can act as a receipt. While private sales of cars and other vehicles are probably more common than the other types, the Michigan bill of sale form can apply to any valuable item. We will cover the most popular bills of sales in Michigan.
What Is a Bill of Sale in Michigan?
A bill of sale form is a confirmation of exchanging an object. Bills of sales, independently of what state they are created in, typically include:
- Full names and contact details
- A detailed object description
- Date, selling price, and signatures
Bills of sale report transactions by describing how they occurred and confirming them with signatures of the parties.
Michigan Bill of Sale Types
The Michigan bill of sale form can be used with transactions of a large variety of items, including furniture, art, and jewelry. The template for each type of object needs to be slightly changed because there could be different specific requirements for each form. Read this section to find out what the most common kinds of deals in Michigan are.
Michigan Vehicle Bill of Sale
When you sell or buy a motor vehicle in Michigan, you do not have to generate a vehicle bill of sale. We still advise you to create one because it will document the transaction and protect both the buyer and the seller.
Michigan Watercraft Bill of Sale
Both vehicles and water vessels need to be registered in Michigan, so you could skip creating a bill of sale for these types of transactions. Nevertheless, many people decide to use them anyway to protect themselves.
Michigan Firearm Bill of Sale
Firearm purchases also do not require a bill of sale, but these are probably the most potentially dangerous transactions you can make in Michigan. Having a bill of sale would be beneficial in such cases, especially if the sold gun gets involved in an accident and the seller needs to prove that they are not liable for it anymore.
Why Do I Need a Bill of Sale?
When you buy an item at a certified store, you get an invoice or a receipt as soon as you have paid the money. We are used to receiving proof of transaction even when the item we buy does not have a particular value. Naturally, when you buy something expensive, you want to have such proof and make sure that the purchase is secure. If you sell an expensive or dangerous object, you do not want to deal with it ever again. Generating the Michigan bill of sale form allows you to solve these and various other problems before they arise.
Michigan Laws and Requirements
Titling and registering procedures for vehicles in Michigan are common and are not complicated. You need to title your vehicle within 15 days of buying it through a Secretary of State office. Remember that you need to pay a fee and provide previous registration or ownership documents. A bill of sale can be considered an ownership document.
Most motor vessels must be registered in Michigan. It is done similarly to the vehicle titling and registering procedure and through a Secretary of State office. Remember that you will need to pay a fee for registering a vehicle or a boat.
In Michigan, you need a license to purchase for buying specific types of firearms. Both parties will need to sign the license. You do not need a bill of sale, but many lawyers recommend that you create one because firearms can be mishandled, and none of the parties would want to be responsible for an accident.
Do I Need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Michigan?
The state of Michigan does not require you to create a bill of sale when buying any of the items discussed on this page. You may still want to generate a bill of sale because it is a legal tool that can protect any transaction.
Creating a Bill of Sale in Michigan
Use our form-building software to create the Michigan bill of sale form with an already composed structure. Independently of the item you are selling or buying, you will follow these steps:
- Identify the Object
Here you need to include a full description of the item so that it can be easily recognized: the year, the make, and the serial number.
- Include the Date of Sale
This is a relevant step where you have to define the exact date of the sale.
- Specify the Date of Signing and the Selling Price
Any bill of sale form needs to have the selling price and the date of signing.
- Name Both the Seller and the Purchaser
Include both parties’ primary contact information, such as their full names, addresses, and signatures.