Illinois General Bill of Sale Form
An Illinois general bill of sale form removes someone’s ownership of an item and transfers it to another person. The deal occurs between two (2) willing parties, meaning that both individuals agree to the transaction before it happens. A bill of sale outlines this agreement by providing context to the exchange. If additional terms exist, the buyer and seller should list the details to establish a formal record.
| Signing Requirements: The buyer and seller (plus additional co-buyers and co-sellers) must sign the bill of sale. |
What is an Illinois General Bill of Sale?
An Illinois general bill of sale refers to reassigning personal property from a seller to a purchaser. It lists information about how both parties conducted the transaction and the item’s value when the sale occurred. A buyer can use the form to prove their rights and responsibilities for the object, especially if they plan to resell it. The document also ensures that the original specs do not become lost or disorganized as the property ages.
Is an Illinois Bill of Sale Required?
No, Illinois does not require a bill of sale form. The state does not provide a copy to residents either. However, buyers and sellers can still download or create the document. They must provide their personal information, a description of the item, and the payment method used. Lastly, each person needs to enter their signature, full name, and date.
Does a Notary Public Need to Sign?
No, a notary public does not need to sign a bill of sale in Illinois. Witnesses do not need to attest to the signing either. Individuals can still decide to have the form notarized or witnessed. This procedure lets others know that both parties completed and signed the form. In other words, it means that neither person forged the document or signatures therein.