Trailer Bill of Sale
Whether you need to haul your belongings cross-country or if you have a specific type of vehicle that needs to be transported long distances, a trailer can come in handy. However, once you’re done using your trailer, there’s no sense in letting it rot in your driveway. This is when a trailer bill of sale may come in handy.
This article will cover everything that you should know about trailer bills of sale, including why you need one in the first place, what should be included in a trailer’s bill of sale, and a few other helpful details.
What is a Trailer Bill of Sale?
A trailer bill of sale is a document that demonstrates that a trailer’s ownership has been given over to another individual. Trailer bills of sale can be used for a wide range of trailers, ranging from open - topped trailers that are used to transport boats to enclosed trailers that are primarily used for cargo.
A bill of sale also provides a degree of protection for both parties in the transaction. For example, a buyer can demonstrate that they’ve paid for the trailer and that they are not committing fraud when they have a bill of sale.
On the other hand, if anything goes wrong with the transaction further down the line, the bill of sale helps protect the seller as well.
Is a Trailer Bill of Sale Finalized Before or After the Transaction?
The bill of sale should always be exchanged between both parties after the full amount of the sale has been paid.
This is because the buyer essentially takes ownership of the trailer when they receive the bill of sale, and they may not be under any obligation to pay the seller further if this is the case.
What Info to Include in a Trailer Bill of Sale
There are a few key details that you’ll want to include about the transaction in the bill of sale so that it’s valid. One of the most important things that you’ll want to include is the trailer’s purchase price.
You should also include key details about the seller and buyer, including the names of both parties as well as their addresses.
After that, you can move on to including details about the trailer itself, including the manufacturer, the model, the year that it was made, as well as its VIN. If there are any other details about the trailer that you’d like to include in the bill of sale, they should be added in here.
You’ll also want to make sure that you include the date that the sale took place on the bill of sale, as well as the signature of a witness or a notary, if either of those are required in the state that you live in.
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