Oregon Bill of Sale Form
An Oregon Bill of Sale is an official document that proves the sale of personal property. It details the transfer of ownership between a buyer and seller in Oregon.
Oregon Bill of Sale Types
As-Is
Vehicle
Why Do You Need an Oregon 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, an Oregon 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 Oregon Department of Motor Vehicles (DMV).
- 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 Oregon, the law demands documented contracts for the sale of any goods worth $500 or more. This legal agreement is what makes the sale enforceable.
However, it is not always a requirement to notarize a standard Oregon Bill of Sale.
Common Uses of an Oregon Bill of Sale
The Oregon Bill of Sale Form is useful for a variety of reasons:
- It 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.
- An Oregon Bill of Sale Form helps prevent property issues when done correctly and according to state requirements.
No. An Oregon 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 Oregon DMV.
In filling out an Oregon 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 Oregon 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 Oregon DMV.
A vehicle buyer will submit the Oregon Bill of Sale and other documents to their local Oregon DMV office. It’s important for every seller to have their own copy and report the sale to the DMV.