Wisconsin Bill of Sale Form
A Wisconsin Bill of Sale Form is a legal contract that documents a property transfer between two parties. It formally records an ownership transfer between a buyer and a seller in the state of Wisconsin.
Wisconsin Bill of Sale Types
As-Is
Vehicle
Why Do You Need a Wisconsin Bill of Sale Form?
In Wisconsin, you do not necessarily need a Bill of Sale for most sales involving personal property. Regardless, it is a smart choice to have an official and legally binding contract.
Motor vehicle sales would generally require a Bill of Sale. The buyer would use it for the title transfer and registration. This is processed with the Wisconsin Department of Transportation (WisDOT).
The Bill of Sale has sections for key details like:
- Item identification number (such as VIN)
- The make, model, and year
- Odometer reading (for vehicles under 10 years old)
- Finalized sale price
According to the law in Wisconsin, transactions involving high-value goods of $500 or more need a written contract. This legal agreement is what makes the sale enforceable. For a standard Bill of Sale in Wisconsin, you do not need notarization to validate it.
Common Uses of a Wisconsin Bill of Sale Form
The Wisconsin Bill of Sale Form is useful for a variety of reasons:
- Conflict Resolution: Serves as a reference to settle any later disagreements by detailing the exact terms of sale.
- Regulatory Compliance: Meets all applicable state and federal standards and legal filing requirements.
- Transaction Records: Creates a formal paper trail for registrations. Useful for insurance purposes and future resale.
- Ownership Evidence: Provides clear proof that the item’s title has moved to the new owner.
- Transfer of Liabilities: Records the complete transfer of any outstanding obligations.
FAQs
Is a Bill of Sale required for all sales in Wisconsin?
No, they are not mandatory for personal property transfers in Wisconsin. However, it is recommended in high-value sales to prove ownership. It’s required for the sales of motor vehicles.
It is for title transfer and to register the vehicle with WisDOT. Under Wisconsin law, sales of goods worth $500 or more must have a written agreement to be legally enforceable.
What specific details are needed for a Wisconsin vehicle Bill of Sale?
A Wisconsin Bill of Sale for a motor vehicle should contain the name and address of both the buyer and the seller. The date of the sale, along with a detailed description of the vehicle that includes the make, model, year and VIN.
The form should also have the mileage on the odometer and the purchase price. It should also specify whether the vehicle is sold "as-is" and include both parties' legal validity signatures.
Does the form need to be notarized?
Wisconsin does not require notarization for a Bill of Sale to be valid. However, it can act as a double authenticator and legal security.
It is very useful in transactions that involve high-value items or conflict resolutions regarding the sale. Vehicle title transfers do not need a notary for validity by WisDOT.
Where do I submit a Wisconsin Bill of Sale for a vehicle?
For vehicle sales in Wisconsin, the buyer submits the Wisconsin Bill of Sale. This goes with the signed title and other documents to the WisDOT customer service center. It can also be directed to the DMV service provider.
It is used to process the official title transfer and vehicle registration. The seller should always retain a copy for their own records.