The buyer and the seller shall keep several copies of the complete BOS. In cases like these, the bill should be signed in the presence of a registered notary public. The state website shall be checked to review that the bill is correct and filled out with all the appropriate information. The benefit of the buyer is that he/she gets proof of ownership and the warranty information. The profit that a BOS gives the seller is that it becomes easy for him/her to report taxing. For cars and boats, South Carolina will demand the original BOS. Some of these bills of sale need to be notarized in the state of South Carolina. It can be presented by the buyer as a document proving he/she legally possesses the item described in the BOS. In this situation, the material or the goods being transferred/sold could be a motor vehicle/boat/gun or general purchase. Its use is done when a former owner of the material transfers possession to a new owner. It can also be defined as a document that transfers ownership of goods from one person to another. REMOVE your plates from the vehicle! You might want to be helpful to the purchaser by allowing them to use your plates until they can properly register the vehicle. See #5 above. Remove the plates. Purchasers can use the bill of sale or closed title to prove ownership to law enforcement in the interim.A South Carolina bill of sale is an important document that acts as proof of the transaction between two parties or the seller and the buyer. Without proof of sale, you can be held liable for any parking tickets, toll fees, or other fines and fees aquired by the purchaser! It happens more than you think.Ħ. Private sales are not reported to the State of Montana until the purchaser properly titles and registers the vehicle in their name(s) with our office - leaving it in yours. FOR YOUR PROTECTION, it's a good idea for the seller to also get a Notarized Bill of Sale signed by the purchaser. Open titles are not legal in the State of Montana, and can allow the purchaser to re-sell the vehicle without any tracking and cause issues for you down the road - see the following points.ĥ. Sellers must always close the title by writing the purchaser's name and information on the title.
That document can only be obtained and provided by you by contacting your bank.Ĥ. If your title shows that there was a lien on the vehicle, you MUST provide the purchaser with a lien release. Replacement titles can take up to four weeks to receive.ģ. Mail the completed form and a $10.30 fee to: Montana Vehicle Services Bureau, P.O. This form can be filled out and printed on your computer, or printed and completed manually. If the vehicle's title has been lost or destroyed, you will need to obtain a new one by completing an Application for Replacement Certificate of Title (Form MV7). A bill of sale does not replace a Montana title. You must provide the purchaser with the most current, unaltered title, properly signed by ALL of the owners listed on the title in front of a notary.
Once your name is written on the title as the purchaser, you are obligated to title and register that vehicle before you can resell it.Ģ.
You cannot sell a vehicle with a Montana title unless it is titled and registered to you first. Things to know when selling your vehicle to a private party:ġ.
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