A Mississippi Bill of Sale is a legal document that records the legal sale and purchase of the personal property. It contains the legitimate agreement between the seller and the buyer and shows that both parties demonstrated their willingness to be mutually bound to the terms and conditions of the deal. The seller and the purchaser must be capable in terms of age and mental ability. The object of the transaction has to be legal and must not violate any laws.
A Bill of Sale in Mississippi is an important part of any transaction because it demonstrates and proves the transfer of a certain item from one individual, or entity, to another. It verifies the sale and purchase and establishes the new owner of the property. Additionally, it releases the former owner from any liability in the future and protects both parties to the agreement from possible disputes and conflicts, so it is highly recommended to draft the bill of sale when the transaction takes place.
Unless you buy a car, there is no legal obligation to create this form. However, it is never a bad idea to fill it out, especially if the transaction involves expensive items. You are allowed to alter the document to suit the particulars of your deal if you need to. Along with the registration certificate of the item, a bill of sale is enough to prove ownership.
Mississippi Bills of Sale must contain the following terms and conditions: