An Overview of a Truck Bill of Sale
A truck bill of sale is a document providing details of truck sale between two parties. A bill of sale for a truck is a legal document that provides important evidence of some given amount of payment made out to the seller by the buyer in exchange for ownership/title of a particular truck. Thus, a bill of sale for truck states clearly that the title of the truck lies with the buyer.
The truck bill of sale is important to both the buyer and seller for the following reasons
Importance of a Truck Bill of Sale to the Buyer
It provides important legal evidence of an actual transaction between the buyer and the seller. If the truck is involved in some legal tussle between the seller and another third party, the buyer would be able to prove that he actually paid for the truck and as such he is entitled to either a full refund or another truck.
The truck bill of sale helps to uncover odometer fraud. This leads to a situation whereby the seller commits himself to the odometer readings written on the truck bill of exchange. If this odometer reading is discovered to be incorrect then the buyer is entitled to legal redress arising out of the seller’s deception.
Importance of a Truck Bill of Sale to the Seller
The truck bill of sale provides evidence that the ownership/title of the truck has been transferred legally from the seller and now rests with the buyer. Likewise, it shows that all fees and charges incurred due to the use and/or misuse of the truck after the sale should fall on the buyer and not the seller.
Components Required in a Truck Bill of Sale
The components commonly required for a truck bill of sale include the following;
- A big heading at the top states clearly that this is a truck bill of sale
- The year of manufacture
- The make and model of the truck
- A brief description of the truck
- The names and signatures of both the buyer and the seller
- The Vehicle Identification Number commonly referred to as VIN
- The amount the truck has been bought for
- The truck’s odometer reading and date read
- Signatures of both the buyer and the seller
Truck bill of sale Template
You can download a free truck bill of sale template here on this page to make your own truck bill of sale when selling or buying a truck. The template is so easy to use and will save you a lot of time writing a bill from blank paper. It also has all required legal information associated with the sale transaction. In order to use the truck bill of sale form, you just need to download the zip file, extract it and create a new document from the template file. Microsoft Word is required to use the template. In case you don’t have Microsoft Word installed, you can use the printable PDF version that can be loaded into any free PDF reader.
In conclusion, you should always ensure that you obtain a truck bill of sale for any truck you buy or intend to buy. Ensure that the truck bill of sale is properly kept and easily accessible. This is important since it can prove to be of great use to you in future. Download a truck bill of sale today and save yourself the trouble of trying to access one later on.