Maine Bill of Sale Form
A Maine Bill of Sale Form is a contract backed by the law to officially document an ownership transfer. It formally states that personal property has been exchanged between a buyer and a seller in Maine.
Maine Bill of Sale Types
As-Is
Vehicle
Why Do You Need a Maine Bill of Sale Form?
In Maine, a general bill of sale is not a legal requirement for all personal property transactions. Nonetheless, it is vital to have a written legal agreement.
It is needed for title transfer and vehicle registration. This is processed with the Maine Bureau of Motor Vehicles (BMV) .
The Bill of Sale document includes some essential details that are necessary for the transfer process:
- Vehicle Identification Number (VIN)
- Current Odometer Reading (for vehicles under 10 years old).
- Finalized Sale Price
In Maine, the law mandates a written agreement for selling goods priced at $500 or more. This makes the contract legally binding and enforceable.
A Bill of Sale is non-negotiable for transactions of this type in Maine. Notarization is not a legal requirement unless specified by particular circumstances.
Common Uses of a Maine Bill of Sale Form
This document formally shows that:
- The seller no longer owns the item.
- Liability is now transferred to the buyer.
- The buyer has evidence of new ownership.
- The buyer has full rights to all future sales.
- The ownership transfer is legally compliant with state regulations.
- The buyer has the responsibility for registration and insurance records.
The extra level of authentication assures both parties involved in the transaction.
No, a Bill of Sale is not a legal requirement in Maine for all personal property sales. However, you need it to prove ownership for high-value transfers. Motor vehicles require the buyer to transfer the title and register the car with the Maine BMV. Legally, goods valued at $500 and above require a written contract for enforceability in Maine.
The information of both parties is important. These are their legal names and addresses.
Notarization is not necessary for a Maine Bill of Sale Form to be legally binding. However, it does add an extra layer of authentication and assurance.
The buyer submits the Bill of Sale for vehicle sales in Maine. They present it with a signed title and other documents to their local Maine Bureau of Motor Vehicles (BMV) office. It can also go to a local town/city clerk's office for vehicle title and registration.