Oregon General Bill of Sale Form
An Oregon general bill of sale form is used when conducting private transactions, such as selling personal property like used vehicles, furniture, or electronics. The purpose of this document is to provide a written record of the transfer, indicating that the ownership of the item moved from the seller to the buyer. To use it, both parties should detail the essential sale information, including item description, sale price, date of purchase, and the names and signatures of both parties. This form not only proves the change in ownership but also safeguards the people involved by documenting the terms, which can be critical in resolving future disputes or claims about the transaction.
|Signing Requirements: Each person involved in the deal must sign.
What is an Oregon General Bill of Sale?
An Oregon general bill of sale provides a framework for outlining the exact conditions of a transaction. The transfer can include “as-is” terms, indicating the item transfers without guarantees. Depending on the deal’s complexity, it may be advisable to have the document notarized for added security, although Oregon law does not require it for this type of sale. This form can also be beneficial for tax purposes, as it can serve as a receipt to determine the item’s value for property taxes, if necessary. Additionally, it reduces the risk of fraudulent transactions, as it can deter potential owners from misrepresenting the products they are selling.
When Do Buyers Need a Bill of Sale?
In Oregon, buyers and sellers must complete a bill of sale when transferring ownership of cars, boats, and firearms. Most importantly, owners of newly purchased vehicles must have the signed form to bring to the Oregon Department of Motor Vehicles (DMV) during titling and registration.
The bill of sale verifies the purchase and aids in determining sales tax, especially if the individual buys it from a private seller (i.e., not a dealership). The same concept applies to boats, where the Oregon State Marine Board requires a bill of sale for registration.
Per state law, buyers and sellers do not need a bill of sale when transferring guns and general items. However, the form provides a recorded transaction history, which is helpful for liability purposes.
Does the Form Require Notarization?
In Oregon, notarization is not a requirement for a bill of sale. Although adding a notary’s seal can offer an extra layer of authenticity to the document, the state’s laws do not mandate this step for the validity of a bill of sale.