Kentucky General Bill of Sale Form
A Kentucky general bill of sale form relieves the owner from possessing their personal property. After signing the document, the buyer pays the seller a designated sum of money for ownership. Neither person can back out of the sale once the transaction occurs, nor can the buyer request a refund. Instead, both parties would need to complete another bill of sale form to reverse ownership.
|Signing Requirements: The vendor and consumer must enter their signatures.
What is a Kentucky General Bill of Sale?
A Kentucky general bill of sale memorializes the purchase agreement between two (2) parties. The document acts as an official receipt, binding each person to the documented terms and giving them protection. For example, a bill of sale prevents a seller from listing an item as stolen. It also serves as a safety net since the buyer cannot accuse the seller of giving them a faulty product. For this reason, the buyer must ascertain they want the object in its “as-is” condition before the sale.
Does Kentucky Require a Bill of Sale?
Bill of sale forms are not necessary for Kentucky residents. Nonetheless, many individuals complete it to have formal documentation of the ownership change. It eliminates questions about the sale as it verifies the purchase. In addition, it provides the item’s history, including its condition when sold. If the buyer wants to resell, they can show the bill of sale to the interested party to verify possession and general information.
Does the Form Need Notarization?
The form does not need notarization or witnesses. Individuals can sign before a notary public or witness if they wish to do so. Taking this extra step makes the form more trustworthy and protects both parties. For example, if either person decides to take legal action after the sale, they can support their side with the notarized (or witnessed) bill of sale document.