What is a Bill of Sale in New Jersey?
The New Jersey Bill of Sale Form is a legitimate document created to prove the transfer of ownership from one individual (or an organization) to another. The bill of sale form may be used to evince a sale and purchase of any private possession, including motor vehicles, vessels, furniture, electronic appliances, animals, and other property.
The template may be accessed on the internet or customized by the seller (or the purchaser).
New Jersey Bill of Sale Types
Most commonly, a BOS is used to record transactions of substantial sums of money. Valuable items that are normally specified in this document are:
The Vehicle Bill of Sale is necessarily required by the New Jersey Motor Vehicle Commission when titling and registering your newly-acquired car. Both parties’ personal data, selling price, payment details, description of the vehicle, disclosures, and odometer reading will be indicated in the form.
The Boat Bill of Sale is not always needed to register and title your watercraft. Still, it is important for personal records, as it contains personal information about the seller and the buyer, the HIN, make, model, year, and other details about the vessel.
In New Jersey, you are not obliged to maintain a Firearm Bill of Sale to buy a gun. However, completing this paper will prevent both parties from unwanted legal consequences that might occur in case someone has provided false information about their criminal records.
Why Do I Need a Bill of Sale?
The New Jersey Bill of Sale Form is a paper that is essential for those individuals who are concerned about their safety. This legal paper contains all vital information about the persons who committed the sale and purchase act. You will also see the selling price, negotiated before completing the agreement, the payment schedule, and all money-related specific conditions both parties have agreed upon.
If you are acquiring a motor vehicle or a watercraft, the BOS will serve as proof of ownership required to complete the titling and registering procedures.
New Jersey Laws and Requirements
The Bill of Sale created in New Jersey will be effective in two languages: English and Spanish. It is not mandatory to witness and authenticate all paper types by a notary public, although notarization will add credibility to the form.
Do I Need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in New Jersey?
- All motor vehicles have to be titled and registered in this state. The NJ MVC requires a Vehicle Bill of Sale to be submitted to get the process started, along with the original title, insurance card, purchaser’s valid driver’s license, and some more papers. If the document is signed by an agent acting on the seller’s or buyer’s behalf, they need to provide a notarized power of attorney. You will need to transmit the payment of the appropriate fees around 100 US dollars as well.
- A Boat Bill of Sale will serve as proof of ownership when one intends to title and register their watercraft, and it has to be submitted to the NJ MVC. Make sure you have completed a boating safety course to receive a certificate prior to applying for registration. Most boats have to be titled within ten days after the acquisition. Prepare to pay the appropriate registration fee.
- The firearm policy in the state is relatively strict. A person does not need to register a purchased deadly weapon, but they cannot legally keep a gun without undergoing a state and federal background check. Creating a Firearm Bill of Sale in New Jersey is highly advisable as it will protect both parties from being involved in illegality. You will need to notarize the form.
Creating a Bill of Sale in New Jersey
Use our form-building software to obtain a personalized BOS for personal records. Normally, the following information is found in the paper:
- Both Parties’ Personal Details
Both seller and buyer should complete their private data, including full names, mailing addresses (with cities, states, and zip codes), daytime telephone numbers, and any other additional information that may be required in the form.
- Item Description
Whether you are selling, trading, or gifting property, it is important to describe it in detail. You need to indicate the year, make, and model of the item, as well as its VIN, HIN, or serial number.
If both parties are content with the agreement’s conditions, they append signatures and date the document. If notarization is needed, a legal specialist should verify the information, affix the seal, provide their credentials, and indicate the commission expiration date.