A Virginia general bill of sale is a legal paper that serves as proof for the legal transaction of private items. It is intended for use by private individuals or entities. The vendor's and purchaser's details are included in the document. It also contains details about the properties sold and the transfer of proprietorship. This form may need to be notarized depending on the value of the goods.
When transferring an item or goods in Virginia, a Bill of Sale is not required (save for the Vehicle Price Certification, Form SUT 1), which certifies the cost of sale of an automobile that is above five years.
The information outlined below should be included on a General Bill of Sale form, which is autographed in duplicate:
Names and physical addresses of the vendor and buyer are included in the identification information. If there are more than one seller and buyer, make a note of it on the paperwork.
The property being transferred is described in detail. Include any pertinent information needed to identify the item or objects, such as a broad description (e.g., color, size), serial number if applicable, manufacturer, year, and others. If the transferred item has any flaws, make a note of these as well.
Warranty disclaimer indicating that the buyer accepts the item "as-is" or outlining any warranty conditions provided by the vendor;
The cost of the specified item. It is preferable to enter the amount in both words and numbers. If the property is being given as a gift, make a note of it on the bill of sale.
Information about the transaction: The date on which a document takes effect must be included in every document. If the transfer is made under any unusual circumstances, be sure to include them in this section. If the payment is divided into numerous parts, for example, indicate the amount of each part and the due date for each part.
Both the seller's and the buyer's signatures are required. The signatures are an acknowledgment that the vendor willingly turns over the indicated goods and that the buyer accepts them under the terms stated. Prepare two original copies of the document and preserve one for your records.
No, Virginia does not mandate a notary public for a bill of sale, however, it is recommended to notarize or have an eyewitness to a transaction to verify the sale.
This can prevent any potential problems that may arise if the vendor or purchaser contests the sale at a later date.
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