Alaska Bill of Sale Form
An Alaska Bill of Sale Form is a document used to legally record ownership transfers. It clearly shows that a property has changed hands between a buyer and a seller in Alaska.
Alaska Bill of Sale Types
As-Is
Vehicle
Why Do You Need an Alaska Bill of Sale Form?
A Bill of Sale is not a compulsory legal requirement for personal property transactions in Alaska. However, it is advisable to always have written evidence that can be legally enforced.
For motor vehicles, a Bill of Sale is crucial for the buyer to transfer the title and register the vehicle with the Alaska Division of Motor Vehicles.
It provides essential details such as the;
- Vehicle's identification number (VIN)
- Current odometer reading
- Agreed-upon sale price
According to the Alaska Statute § 45.02.201, the sale of goods above $500 must be followed up with a written agreement. This requirement makes a Bill of Sale necessary in Alaska before a property transfer can be enforced.
Common Uses of an Alaska Bill of Sale Form
The document can be useful in many ways:
|
S/N |
Uses |
Description |
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|
Liability Transfer |
Documents a complete handover of all liabilities to the buyer |
|
|
Proof of ownership |
Details the transfer of ownership of an item |
|
|
Records and documentation |
For title transfers, registrations, insurance, and future sales |
|
|
Legal Requirement |
Compliant with all state and federal regulations |
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|
Dispute settlement |
Prevents future disputes regarding the details of the sale |
An Alaska Bill of Sale Form is highly recommended for all significant personal property sales in Alaska. It's especially important for items over $500 as per state contract law. For motor vehicles, boats, and ATVs/snowmachines, it's required for the transfer of title or registration with the Alaska DMV.
A Bill of Sale for a vehicle in Alaska must have identification details of all parties involved. These include full names, addresses, and contact lines. It must also have the vehicle's details, like the identification number, model, year, and make.
In Alaska, a Bill of Sale generally does not need to be notarized to be legally valid. While not mandatory for vehicle title transfers at the Alaska DMV, notarization can add an extra layer of authentication. It is beneficial for high-value sales, extra protection, or dispute resolution.
For vehicle sales in Alaska, the buyer submits the Alaska Bill of Sale. It goes along with the vehicle's title and other required documents, like an Odometer Disclosure Statement.