If a buyer purchases a product from a private trader, this event does not get automatically registered and recorded, as it would be in a shop. If you live in Tennessee and would like to sell or buy goods privately, you may want to familiarize yourself with the Tennessee bill of sale form. It will make a record of your deal. You can apply the bill of sale form later to various situations and in circumstances that require proof of transaction.
What Is a Bill of Sale in Tennessee?
Generally, both the seller and the purchaser take part in generating a bill of sale. They should always make sure that the information stated in the document is correct and corresponds to exactly what the parties had agreed on previously between themselves. The seller may be the one filling out the bill of sale form, but it is advised that both parties receive a copy.
In any state, a bill of sale is a straightforward legal document that serves as a receipt of an invoice for a private transaction. These documents may take varying shapes and be composed according to specific templates in each state, but the basic principles of creating them and the main contents are the same across the country.
The Tennessee bill of sale form would incorporate the following details, independently of what item is sold:
- Full names and contact addresses of the parties,
- Their signatures,
- A detailed description of the item,
- The selling date and price.
Tennessee Bill of Sale Types
The Tennessee bill of sale can be generated for various deals. People in Tennessee sell many goods privately, but the most popular transactions involve motor vehicles. Read this section to learn about the types most individuals in Tennessee look for when arranging a private deal.
Tennessee Vehicle Bill of Sale
People buy and sell cars and motorbikes all over America in unthinkable quantities every day. A lot of these sales happen privately because it is really easy to find a well-preserved used car. Recording your private motor vehicle sale with the Tennessee vehicle bill of sale is a sensible thing to do if you have found a perfect used vehicle or if you are selling one.
Tennessee Watercraft Bill of Sale
Tennessee, although a land-locked state, has an extensive river system. More and more people are looking into buying a watercraft here. Similar to motor vehicles, often it is much cheaper to buy a used watercraft. The Tennessee watercraft bill of sale will keep a record of all necessary details of such a sale. Moreover, in Tennessee, it is a requirement when purchasing a boat privately.
Tennessee Firearm Bill of Sale
Finally, for those who need a gun in Tennessee, a firearm bill of sale is a great legal tool to protect both parties’ rights during a private firearm sale. This could be dangerous, considering that the sold item can be harmful, so sellers and buyers should be especially careful when making a private firearm deal and strictly follow the laws.
Why Do I Need a Bill of Sale?
The Tennessee bill of sale form can potentially be used for the registration process. In Tennessee, the requirement to have a bill of sale applies to boat registrations.
This is not the only reason to generate a bill of sale though. This simple legal form can save the seller and the buyer a lot of time and effort if an issue arises.
For instance, if the buyer has not completed the registration and has not officially notified the authorities about obtaining the rights for the vehicle, the seller may still be thought to be liable for the vehicle. To avoid confusion, the seller may want to have a bill of sale as proof of releasing the liability for the item.
Tennessee Laws and Requirements
If you buy a motor vehicle or a vessel in Tennessee, you need to complete registration. Any motor vehicle in Tennessee needs to be registered with the help of a county clerk. You will need a title with an odometer disclosure (if applicable) for vehicles. If you transfer plates to the new vehicle, you will also need your previous vehicle’s registration.
Boats do not require titling. The Tennessee Department of Revenue will need proof that you have paid the sales tax for the boat though. You need to go to the county clerk’s office to certify your application. Remember to pay the fees for a vehicle or boat registration.
These procedures do not apply to firearms as they are not required in Tennessee. There also is no need to notarize bills of sale in Tennessee.
Do I Need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Tennessee?
As we have mentioned above, in Tennessee, a bill of sale is required for registering boats obtained from a private seller. You are also advised to keep a photocopy of it in your boat. In such cases, having a bill of sale is a legal requirement. For other transactions, including motor vehicle and firearm deals, you do not have to generate one, but it is still good practice.
Creating a Bill of Sale in Tennessee
Use our form-building software to generate your bill of sale form. Follow these steps:
- Start with the Date of Sale.
The selling date should be included in any bill of sale form.
- Name the Parties.
Provide full names, addresses, and phone numbers of the seller and the purchaser.
- Define the Item.
This is an essential part. Specify the item characteristics, such as the model, the make, the year of manufacturing, and any identification number applicable to this type of product.
- State the Selling Price.
Both parties should check this information carefully.
- Sign the Form.
Both parties should sign the form.