If the date that the property will be transferred is different from the date of the sales transaction, that should be noted as well.Ī bill of sale should be signed by both parties. It should also record any factors that influenced the selling price, such as the odometer reading of a car, creator of an artwork, or dam and sire of a horse. The document should include identifying details about the item sold, like the VIN number of a car or the serial number of a gun or computer. The state of Minnesota doesn’t require a bill of sale for any transactions, but the document is recognized as an official record of a sale.Ī bill of sale needs to clearly identify the parties involved in a transaction, the item being sold, the selling price, and the date the transaction took place. Notary Public: A disinterested, trained party who certifies the validity of signatures on a document.Sales Price: The monetary value or dollar amount both parties have agreed to exchange.Gift: Indicates a seller does not expect any payment for an item.As-Is: Indicates a seller makes no warranties or promises about the condition of an item.Payment: The money or property transferred in exchange for acquiring ownership of a sold item.Buyer(s): The person(s) or the party receiving ownership of an item.
