What is the Bill of sale in South Carolina?
Before setting out to buy or sell any item, it is necessary to have the basic knowledge on the item as well as what form to use in the South Carolina bill of sale form.
The South Carolina Bill of Sale forms are legal documents used to verify the transaction that has been carried out between two parties on an item sold or purchased. These documents serve to verify the ownership transfer of a vessel, vehicle, firearm or other personal property.
When buying or selling a vehicle in South Carolina a bill of sale should comply with government requirements and it should also provide legal protection. For instance, it is advisable to keep your vehicle records when purchasing a vehicle or any item from a friend or private dealer.
Types of Bill of Sale Forms in South Carolina
There are various types of bill of sale that govern the state of South Carolina. Some of these types include:
- South Carolina Boat Bill of Sale:
Buying or selling a boat in South Carolina, the forms must include information of the buyer, seller and the vessel to be bought or sold. The transaction date, purchase price and signatures of both parties must be included.
- South Carolina Car (vehicle) Bill of Sale:
When buying or selling a vehicle in South Carolina, using the bill of sale complies with the government requirement and also provides legal protection. This form must state the necessary description about the vehicle, date of transaction, personal information about the seller and buyer and signatures of both parties.
- South Carolina Livestock Bill of Sale:
This is a type of bill of sale where livestock animals are bought or sold and it's recorded in the sale form for future purpose or references. Livestock bills of sale in South Carolina should include information about the animals such as age, name(if applicable), breed, gender, registration number etc.
- South Carolina Aircraft Bill of Sale:
In the south Carolina aircraft bill of sale,the form should include the make, model,year and manufacturer of the aircraft as well as the registration and serial numbers.
- South Carolina General Bill of Sale:
This bill of sale is used for general purpose depending on the item to be bought or sold. It also serves as a transfer or exchange of ownership between two parties with the witness of a third party. This form must include personal information about the seller, buyer, description of the item, day of transaction, method of payment and signatures of both parties.
- South Carolina Firearm Bill of Sale:
The South Carolina firearm Bill of Sale is a document that proves that a firearm has been legally sold, purchased and changed ownership. Firearms such as shotgun, handgun rifle or any type of gun. This form can protect a seller from any criminal issues of the sold gun.
How to write a Bill of sale?
Writing a South Carolina bill of sale is very easy and straightforward if you can follow instructions to the latter. Remember that the South Carolina bill of sale is used to show evidence that a transaction occurred between two parties. The transaction can be anything - motor vehicle, firearm, aircraft, livestock, boat and much more.
To write a South Carolina bill of sale, here is how to go about it - you should start by writing a declaration that you are selling a particular item to a buyer at a certain price. Remember to include the name of the item you are selling, your full name and address and the full name and address of the buyer.
Next, include all the important information that is relevant to the item you are selling. Also, include the date the transaction took place and the exact location. Once all of these are included, be sure to authenticate the document with your signature and date. Please, note that whether you want to sell a boat, motorcycle, or mobile house, the format is the same for all the South Carolina bills of sale.
For emphasize sake, here is what should be included in a South Carolina bill of sale:
- The date of the sale
- Both buyers and seller's full name
- The sale price
- Address of both the buyer and seller.
- A description of the item to be bought or sold.
- The original owner of the item.
Why Do You Need a Bill of Sale in South Carolina?
It is necessary to have a bill of sale for future reference and to proof that a transaction occurred. In most cases, the seller drafts the bill of sale. Some of the reasons why you need a bill of sale include:
- It is a proof of ownership as a buyer.
- It protects a seller from any illegal accusations or mismanagement of the item by the buyer.
- It can be used pending when one chooses to get a title i.e in a car purchase.
- It encourages both the buyer and seller to adhere to the terms and conditions on the form.
- It helps the buyer to know the history of the item i.e if the item was stolen or not exactly as described.
This article has been able to provide you how important the South Carolina bill of sale form is. Due to its value, you are expected as a buyer or seller to maintain them and make copies of your personal records. If need be, you can make extra copies for the notary.
A valid South Carolina bill of sale form must also include a trade-in, that is if an item is being traded for another, the bill of sale will verify that the two products are of equal value.
South Carolina Bill of Sale FAQ
Is Bill of Sale and title the same thing?
A bill of sale is not directly the same as a title because a bill of sale is a legally-binding document that shows evidence that a transaction was carried out between two parties but you can use it to obtain a title especially the vehicle title from the DMV.
How long can I drive on a bill of sale in South Carolina?
Buyers have 45days to register their vehicle and transfer title units to their names. Therefore a bill of sale protects car sellers from having to pay any charges associated with the vehicles such as late registration.
Do I require a Bill of Sale to register an aircraft?
Yes, the South Carolina aircraft Bill of Sale is one of the important documents needed in registering an aircraft with the federal Aviation Act.
How long does it take to register an aircraft?
It takes 16 working days to register an aircraft with the FAA (Federal Aviation Act)
Must a witness or notary be present when signing the form?
The aim of the witness is to physically see the signers sign the documents while a notary is to prevent fraud in a written transaction but they don't have to be present in all cases. The buyer or seller can choose different dates at which they can sign in present of a notary.