Tractor Bill of Sale Template
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What Is a Tractor Bill of Sale?
If you intend to sell or buy a tractor, you should get a Tractor Bill of Sale . This type of Bill of Sale transfers the ownership of a tractor from one party to the next. Ownership can be purchased with cash, through a trade, or any other agreement that the buyer and seller come to. A Tractor Bill of Sale is a legal document that creates a binding agreement between the buyer and the seller. After all of the payments have been received, the seller signs the bill of sale confirming the purchase. They then give the Bill of Sale to the buyer signifying the transfer of ownership to the buyer.
A Tractor Bill of Sale template can be downloaded below.
How to Make a Tractor Bill of Sale?
A simple Bill of Sale for a tractor can be drafted easily and is requisite for a buyer to legally have rights and ownership over the tractor. A Tractor Bill of Sale has the components below.
- Seller and Buyer Information.
- Typically Seller information is listed first;
- Be sure to include the first and last names, addresses, license numbers, email addresses, and phone numbers of both parties.
- Tractor Information and Condition.
- It is key to detail the make and model, the tractor's year, VIN (Vehicle Identification Number), and the mileage with units;
- It is best practice to include a thorough description of the tractor and the condition it is to be sold in. This way it is clear to the buyer. It also protects the seller from any litigation later in case the buyer has any disputes to make.
- The Agreement and Details of the Sale.
- In this portion of the bill of sale, include how much the vehicle was sold for or what it was traded for, the date it was sold, and any warranty included in the agreement, if applicable.
- It is routine for a Tractor Bill of Sale to be notarized. This process prevents any fraud and provides a witness to testify that the sale was completed if any litigation occurs;
- The witnesses' information is also collected. This includes their names, their addresses, a photocopy of their identification. The witnesses will also sign the bill of sale when the purchase is made;
- Some buyers and sellers choose to bring one witness each to notarize their bill of sale. Depending on the relationship between the two parties, this may not be necessary.
As the buyer of a tractor, you may want to consider paying to get the tractor inspected to be sure of its condition prior to making the purchase. This is a great precaution to take if the condition of the tractor is listed "as is" on the bill of sale. This means that the tractor may or may not have damage or need repairs in its current condition. The seller is letting this be known and they will not be responsible for the condition the buyer accepts the vehicle in.
Still looking for a particular template? Take a look at the related templates below:
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