North Dakota Bill of Sale Form
A North Dakota Bill of Sale is a legal document that proves the record of sale of personal property. It details the transfer of ownership between a buyer and seller in New Dakota.
Why Do You Need a North Dakota Bill of Sale?
A Bill of Sale is essential for the following reasons:
- It serves as a paper trail
Although a Bill of Sale is not always required for all transactions of personal property. It is recommended as it serves as a clear paper trail.
- It is useful for a claim purpose
When purchasing motor vehicles, a North Dakota Bill of Sale is essential. The buyer needs it to transfer the vehicle’s title. It's also used to register the vehicle with the North Dakota Department of Transportation (NDDOT).
- It contains useful information
A Bill of Sale provides important details needed to carry out the transfer process. These include:
- Odometer reading
- Vehicle identification number (VIN)
- The agreed sale price.
- It is a state requirement
In North Dakota, the law demands documented contracts for the sale of any goods worth $500 or more. Thus, it is important to have a Bill of Sale for such transactions.
However, it is not always a requirement to notarize a standard North Dakota Bill of Sale. This applies except in certain circumstances.
Common Uses of a North Dakota Bill of Sale
The North Dakota Bill of Sale Form is useful for a variety of reasons:
- A North Dakota Bill of Sale documents the transfer of title and liabilities from seller to buyer.
- It becomes vital evidence for the buyer, serving as a symbol of their new ownership. This may be useful for insurance, registration, and future sales.
- A North Dakota Bill of Sale Form helps prevent property issues when done correctly and according to state requirements.
No. A North Dakota Bill of Sale Form is not legally required for all sales of personal property. However, it is advised to have one as it serves as proof of ownership. For motor vehicles, the buyers must transfer the title and register with the NDDOT.
In filling out a North Dakota Bill of Sale Form, details such as the full names of both parties may be needed. The sale date, identification number and vehicle details are also included.
Notarizing a Bill of Sale in North Dakota isn’t necessary. However, having notary validation can be an added legal assurance and authentication. This can be useful for averting future issues. For a transfer of vehicle title, notarization is also not required by the NDDOT.
A vehicle buyer will submit the North Dakota Bill of Sale and other documents to their local NDDOT office. It’s important for every seller to have their own copy and complete the “Report of Sale" on the vehicle's title.