What is a Bill of Sale in Minnesota?
The Minnesota Bill of Sale Form is a legal certificate used to proclaim that one individual (the seller) has transferred ownership to another individual (the buyer) under specific conditions. The free bill of sale is most commonly created to evince that the transaction for a valuable item has taken place, but you may also use it for trading and gifting personal property.
Minnesota Bill of Sale Types
- The Vehicle Bill of Sale serves as a retail receipt. It will contain detailed information about the car, motorcycle, trailer, semi-trailer, or other types of motor vehicles being sold.
- The Boat Bill of Sale legitimately proves that the seller has conveyed the rights to their vessel to the purchaser. It is necessary to notarize the form to make it valid.
- The Gun Bill of Sale certifies that you have acquired a firearm from another person. This document has to be notarized and witnessed by two adults.
Why Do I Need a Bill of Sale?
A BOS form has to be presented as proof of ownership in most states of the country when applying for the item’s registration. What is more important, it will add an extra level of protection for both parties, as both sellers and buyers provide their personal data in the document, including their residential addresses and mobile numbers. The paper describes the personal property as is, which implies that the purchaser accepts to provide monetary funds for the item in its current condition.
Minnesota Laws and Requirements
The Minnesota Bill of Sale Form should be dated on the day the individuals reach an agreement. The payment date may be different, though, or even split into several periods, depending on the conditions the parties have negotiated.
It is recommended to submit the document written in English, no matter what language the seller or the buyer speaks.
Do I Need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Minnesota?
- Vehicle registration does not require the BOS presentation. A resident needs to prove their ownership with a current title certificate and provide their ID card. You have to pay appropriate fees, the amount of which depends on the age of your vehicle.
- Registering a boat is necessary within the state. A person cannot operate any motor-powered vessel on Minnesota waterways without registration. A Bill of Sale is not needed to obtain one, though. You will have to renew your registration every three years.
- A handgun may not be registered in Minnesota, although you are not allowed to keep and use one without a permit. To obtain a permit, send an application to your local police.
Creating a Bill of Sale in Minnesota
We recommend using our form-building software to create your personalized form. Authorizing a BOS form may vary from state to state, though the information provided does not normally differ critically.
- Private Data
All persons participating in the deal are supposed to indicate their names, residential and mailing addresses, mobile numbers, and driver’s license numbers (if applicable). When selling or buying a handgun, you might have to submit additional personal information.
- Item Description
No matter what you are selling, describe the property in detail, so the purchaser will not accuse you of concealing any defects. Typically, the document will inform you about the serial number, HIN, VIN, year, make, model, size, color, and other possession features.
Once the seller and the buyer have signed the paper, it becomes effective. Make sure to have checked the info submitted twice and never provide false statements (which is considered a felony and may lead to punishment). If the BOS has to be notarized, append the signatures in front of a legal notary and let them authenticate the document.