What is a bill of sale? What is it seems like? What are its types? If you have ever questioned yourself with these types of questions, then this post is for you. This article will discuss must-know facts about the Oregon bill of sales and provide you with a template for your bill of sale.

What does a bill of sale resemble?

● It is a legal paper that assigns possession of an object from one party to another. In the bill, you will find both parties' names and signatures, as well as information about what sold.
● It also includes how much money changed hands with each transaction. It can further contain any special or unique provisions between the two parties in question before signing it. For example, if someone sanctioned a loan against his house, he may want to include details regarding when he'll start paying back this new debt on top of his old mortgage payments.
● Oregon law gives buyer 60 days after signing the bill for buyers remorse so no longer have to live with their purchase decision once they buy something at retail price.
● A bill of sale used for a trade agreement, such as trading a car in exchange for a boat. Bill's that detail these types of trades are often called "bill of trade." It has the same information on it, but it is written differently depending on what traded and how much money changed hands.

What to document in an Oregon Bill of Sale form?

The purchaser's name, vehicle identification number (VIN), and odometer reading must include in the bill of sale form. A bill of sale form may not transfer ownership if signed by someone other than the person who owns the car or company that sells it. There are two types of Oregon Bill of Sale forms: a short-form for private transactions and long-form commercial sales. It is recommended to use the long-form when selling used vehicles to cover all bases about complying with state law; otherwise, you could risk receiving fines. When completing an Oregon Bill of Price document, make sure your signature goes on line 18 at the bottom right corner, where it is visible.

What are the multiple types of bills of sale?

The bill of sale is a legal record that documents the purchase or transfer of ownership for an item. There are two types: Retail and wholesale. Wholesale bills differ from retail in that they typically have more details about the product sold, such as when it was made, what ingredients were used to make it, how much weight/volume there is and so on.

How does Oregon law define this document?

● According to ORS 72 - 300, "The seller shall deliver to the purchaser at the time he transfers possession thereof either one copy of a bill of sale which has signed by any person who appeared before him with identifying credentials or other evidence satisfactory to testify his identity" (Oregon Revised Statutes).

● Furthermore, ORS 72 - 301 states that "The bill of sale shall be in a form approved by the Department of Revenue and contain at least one itemized statement including the following the date when it was signed, name, age, residence address and occupation of the person who appeared before him with identifying credentials or other evidence satisfactory to testify his identity as a seller."

● Sellers also have responsibilities when it comes to this document under Oregon law. For example, they must do their best not to make false statements on any bills of sale concerning product origin (e.g., country).

If you are seeking a bill of sale template, Oregon is available for free. These documents can make the process much simpler and faster for all parties involved in a transaction. Form.Legal provides an easy-to-use, customizable template ready to go after you fill it out with your information and signature.