Buying used items has numerous advantages, such as saving money and helping the environment. More and more people prefer looking for used goods online where the choice is often better than at an actual store. Private deals are not necessarily as straightforward as buying items from an official dealer who generates the receipt or the invoice for you.
Nonetheless, there is a way to receive proof of transaction when you are buying or selling items in Utah. You can easily do it by creating the Utah bill of sale form that will act as a receipt for your private deal.
What Is a Bill of Sale in Utah?
A bill of sale form is an unambiguous and practical legal tool used in Utah and other states for recording details of private deals. Any purchase should be recorded to protect the rights of the parties. Any bill of sale, independently of the state it is created in, should meet certain legal requirements.
The parties should always do the following when creating the Utah bill of sale form:
- Name the parties,
- Describe the object in detail,
- Include the selling date and the price.
Both parties typically provide their signatures, but it is also allowed only for the seller to sign the form. No witnesses or notarization are required.
Utah Bill of Sale Types
In Utah, private sellers trade various objects every day. Not all of the transactions may require special legal protection from the seller’s and the buyer’s point of view, although any sale can be protected by a bill of sale. Here we describe the most popular types of this document.
Utah Vehicle Bill of Sale
A very large number of drivers — around three quarters — buy used cars. It often seems like the wisest decision considering how much the prices change when you compare the same models sold privately and by official dealers. You can easily buy trailers, cars, motorbikes, and other motor vehicles privately. Creating a Utah vehicle bill of sale for your transaction can protect your rights by recording the terms of the deal.
Utah Watercraft Bill of Sale
Just as many individuals prefer buying used cars, many boat-lovers look for vessels with specific characteristics and often buy them for very affordable prices from private sellers. Boat transactions often require obtaining a bill of sale, but even when it is not a legal requirement, it is still a useful document to have.
Utah Firearm Bill of Sale
Firearms are another category of goods that are often sold privately. Such transactions can lead to unpredicted consequences for previous owners if the firearm later was mishandled or lost. A Utah firearm bill of sale is a secure tool that can help you to protect yourself if you are selling or buying a gun privately.
Why Do I Need a Bill of Sale?
After you have purchased or sold an item privately, both the old and the new owner of the item may face a situation where they will need proof of ownership or proof of releasing the ownership.
There is more than one scenario for this, but a possible mistake is forgetting to register the newly bought item and notify the state about the change of ownership. Another possibility involves the item being used illegally. The previous owner may then benefit hugely from having a bill of sale clearly stating that the item did not belong to them at the time.
Utah Laws and Requirements
The Utah Division of Motor Vehicles (DMV) lists creating the bill of sale under the responsibilities of the purchaser and the seller. Besides that, the purchaser will have to obtain:
- The title,
- The odometer disclosure (it does not apply to cars older than 10 years old),
- Proof of paying the tax.
The bill of sale can assist in calculating the sales tax because it always includes the exact selling price, and the sales tax is derived from it.
In addition to the above-mentioned documents, the seller should give the buyer the registration and the safety and emission certificates and report the sale to the Division of Motor Vehicles.
Most vessels operating with a motor should be titled in Utah. A few exceptions apply, such as vessels that are in the state for a short time only. The buyer needs a title application with their name on it. They will also need to pay a registration fee.
For transactions involving firearms, registration is not required.
Do I Need to Have a Bill of Sale to Register a Vehicle, Watercraft, or Firearm in Utah?
The Utah DMV suggests that you generate the Utah bill of sale form for transactions involving motor vehicles but not for other kinds of transactions. In any case, this is a good measure to take for protecting your ownership rights for a privately purchased item.
Creating a Bill of Sale in Utah
Create a Utah bill of sale using our form-building software by following these steps:
- Name the Product.
Identify what type of item this bill of sale applies to.
- State the Price.
The selling price has to correspond to the exact amount paid to the seller.
- Identify the Purchaser and the Seller.
Include the full names of the parties.
- Describe the Item In Detail.
Provide the full description of the item, including the identification number, model, make, year of manufacturing, and license plate number (if applicable).
- Confirm Whether the License Plate Is Included (for motor vehicles only).
The seller needs to say whether the license plate was sold with the vehicle.
- Sign and Date the Bill of Sale.
The seller may be the only individual signing the form.