A Vehicle Bill of Sale in Louisiana
Though this specifically refers to Louisiana, it applies to anywhere in the United States in some aspects as well. When buying or selling a vehicle, it’s empirical that both parties obtain and keep safe a vehicle bill of sale. This document assures that both parties have sufficient proof of the sale, and information on the opposite party for legal reasons. Thankfully, although it may be of high importance, it’s actually surprisingly easy to create one.
In Louisiana specifically, a bill of sale is only required if the actual title of the vehicle doesn’t include both the date and final price of the sale and both parties legal signatures. Requirements aside, it’s always a safe bet to create this document anyway for legal safeguard. Not to mention, it’s actually legally required to obtain a notarized bill of sale when transferring over a title between two private parties.
When drafting up this document, it’s actually fairly straightforward on what you’ll need. Naturally, it’ll have to have the printed and signed names of both parties in the transaction, as well as the vehicle’s name, make and vehicle identification number (VIN). Alongside all that, you’ll also need the specific date of the sale, the agreed upon price, and a signature from a notary public. Sometimes a bill of sale can require more information depending on the specific sale information. If you’re selling a motorcycle, for instance, you’ll also be required to put the motorcycle engine number on the document.
When in doubt, add more information. You don’t have to skimp on what you put on the document, and in most cases, it’s a far better idea to add more information than you need, rather than to put the bare minimum and risk missing something important. This includes both parties legal addresses, telephone numbers and even driver’s license IDs. This is optional, but it’s always a safe bet when dealing with transactions. This should be a pretty obvious thing to keep in mind, but don’t forget to copy a duplicate of the sale for both parties. You wouldn’t want to lose information this important simply because you didn’t make a copy.
Though the document is important for both parties, it’s arguably most valuable to the buyer in the transaction. Sure, the seller will have important legal information on who he’s selling his vehicle too, but the buyer is able to use the information on the document to do auto-reports, which will provide him with very important information on the vehicle’s past, including wrecks, accidents, etc.
Once you have your document, you’re solid. Either tuck it away for safekeeping until you need it down the road or use it to transfer the title if you hadn’t already done that previously. Dealing with a bill of sale may seem to be an arduous task for some, but it’s truly incredibly simple once you understand the requirements in Louisiana. Note though, the requirements may vary depending on your state.