Why Use Bills of Sale to Sell or Purchase Motor Vehicles in Arkansas?
Bills of sale are aimed at recording the transition of ownership over an asset, whether it’s a vehicle, a business, or jewelry. Bills of sale help the sides secure their interests through providing a legally recognized way to transfer liability from one party to another. For instance, the seller won’t be held accountable if the vehicle they sold is involved in a crime or abandoned.
It’s worth noting that you aren’t required to sign an Arkansas motor vehicle bill of sale to register a new vehicle. According to the Office of Motor Vehicles, a title is generally sufficient to register a car in the state. However, there are some cases when you need to use a vehicle bill of sale; for instance, if there’s not enough space on the title, or if the seller is applying for a sales tax credit.
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