People often conduct private deals and sales transactions in the United States and the state of South Dakota. One should know that when you sell (or purchase) anything in this state, you should complete at least one legal document: a South Dakota bill of sale form.
What is a Bill of Sale in South Dakota?
A bill of sale form is a document that serves a couple of purposes at the same time. With this paper, parties confirm that the former holder does not claim to operate the sold property anymore.
The form describes the deal in detail. One can find out “who, where, when” and other information from a bill of sale. Every such document will tell:
- What were the deal’s object and its basic features;
- Who were the deal parties;
- How much did the item cost.
A bill of sale becomes valid after at least one party signs it. Typically, both parties have to sign the paper; sometimes, they should ask a notary to acknowledge, too.
South Dakota Bill of Sale Types
There are five types of bills of sale that people commonly use in South Dakota. The document’s structure and info to include are more or less the same. However, the deal object varies. These types are:
- Vehicle Bill of Sale
You should use this document when selling (purchasing) a car or any other motor vehicle in South Dakota.
- Boat (or Vessel or Watercraft) Bill of Sale
This paper is used when you complete a sales transaction tied to a boat of any kind.
- Firearm (or Gun) Bill of Sale
Creating a bill of sale when transferring a gun to another individual is essential. Keep reading, and you will understand why.
- Horse Bill of Sale
It is typical to sign such a form when you hand over a horse in South Dakota.
- General Bill of Sale
When a deal object is not a thing listed above, parties can use a general template. They can create a bill of sale when transmitting anything. Completing this form normally occurs when people buy technically complex items, domestic appliances, various equipment, and so on.
Why Do I Need a Bill of Sale?
As we have stated before, this form undertakes various tasks. The essential function is proof that the ownership is transferred to a new holder. Another thing is that a bill of sale is required in many American states when you register a boat or a vehicle. Finally, the paper proves that the deal has happened on a certain date, in a particular place, and under specific conditions.
When you sell some items, you should be aware of the possibilities to mishandle them. Unfortunately, no one is safe from car accidents, and the car that used to be yours may suddenly become a murder weapon. To protect yourself from false allegations, you can submit a signed bill of sale.
South Dakota Laws and Requirements
The South Dakota Department of Revenue (or DOR) requires a bill of sale submission when you register a vehicle. If you register a boat, the document may serve as ownership proof that needs to be submitted, too.
In some states, you should notarize a bill of sale. However, in South Dakota, it is not compulsory.
Do I need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in South Dakota?
You ought to provide a bill of sale to register a vehicle. It can be essential for a vessel registration if no other papers prove that you are the owner.
You do not have to register a gun, but signing this paper when selling a firearm is essential — we have explained the benefits before.
Creating a Bill of Sale in South Dakota
Completion of legal forms in South Dakota might be complicated and exhausting. We present our instructions that you can use to create the South Dakota bill of sale form properly.
- Add the information about the parties
You have to name the deal parties and write their addresses and contact details (valid telephone numbers, email addresses, or other info).
- Describe the sold piece
You should write basic features that describe the object of sale. The list of things you have to include depends on the item. However, there are vital things to write: the make, model, manufacturing year, and serial number (VIN for vehicles, Hull ID or HIN for vessels, and so on).
If you like, you may insert the color, type, or other applicable information. Do not skip the part where you should reveal the price in US dollars.
- Sign and date the document
In South Dakota, the one who is selling the piece and the one who is buying it should leave their signatures on a bill of sale to make it effective. Also, you have to write the date when this document is created (and the sales transaction is closed).