To prove that there has been a legal transfer of ownership/title of a property (including boats, motor vehicles, guns, etc.) from a person selling to a person buying, a Michigan bill of sale form is drawn. Vital information such as ID and the description of the property purchased is provided in the document. In some cases, the document is to be signed and sealed by authorized( Notary) persons.
There are five forms of Michigan bill of sale forms and they include:
Bill of Sale Form For Vessel: To prove that there has been a legal transfer of ownership of a boat/vessel from one party to another, this form is drawn.
Gun Bill of Sale Form: This is used as a confirmation that there has been a legal transaction (selling and buying) regarding firearms.
General Bill of Sale Form: To show the legality of the transfer of title of a personal item, this bill of sale form is drawn.
Bill of Sale for Trailers, Water Vessels and Snowmobiles: This will stand as a confirmation that a legal sale or purchase and transfer of ownership of the objects listed in this subtopic has been made.
Bill of Sale for Motor Vehicle– When ownership of a vehicle is transferred from one party to another through sales and purchase, this form is drawn to prove that the transaction is legal.
Proof of purchase (Bill of Sale (Form TR-207) in this case);
Mileage declaration form (also known as an Odometer Disclosure Statement_Form BVDR-108);
Original document to prove that the object is in your name of Title ( in the absence of this document (if misplaced), it can be replaced);
A license to drive as approved in Michigan;
A completely filled Michigan Motor Vehicle Ownership Application (Form TR-11L); this is used in cases where the vehicle is moved into the state from another state;
Payment of registration costs;
A confirmation that the object is insured and the limited coverages are known:
PIP (also known as Personal Injury Protection);
Protection for the Item;
Insurance in case of physical injury or damage to property;
In cases where someone else registers the property in place of the original owner of the property, a Motor Vehicle Power of Attorney is required.
Proof of Purchase (a bill of sale in this case);
Payment of registration costs.
A motor vehicle bill of sale expressly states the terms and conditions of a vehicle transaction between a purchaser and vendor. The sale document can ...
The business bill of sale - also known as a purchase agreement - documents the sale of an organization and the related property, as well as the transf...
By signing the as-is bill of sale, the buyer is agreeing to purchase the item as it is in its current condition regardless of any defects whatsoever. ...