Illinois General Bill of Sale
If you're selling or buying a car or a firearm, you'll need to create a Bill of Sale since the new owner will need to register the item after the sale, which will be impossible if you don't have the right paperwork.
The title transfer is handled by either the Department of Motor Vehicles (DMV) or the Special Licensing and Firearms Unit (SLFU). Creating a Bill of Sale for any property, however, is a good idea; you can use it for tax purposes, and It can be used as a receipt, evidence that you are the legal owner of the specified thing, or proof that you are no longer accountable for the listed item.
The following should be included in the document for it to be accepted as proof by all state officials:
Names and physical addresses of the vendor and buyer are included in the identification information. If there are more than one seller and buyer, make a note of it on the paperwork.
The property being transferred is described in detail. Include any pertinent information needed to identify the item or objects, such as a broad description (e.g., color, size), serial number if applicable, manufacturer, year, and others. If the transferred item has any flaws, make a note of these as well.
Warranty disclaimer indicating that the buyer accepts the item "as-is" or outlining any warranty conditions provided by the vendor;
The cost of the specified item. It is preferable to enter the amount in both words and numbers. If the property is being given as a gift, make a note of it on the bill of sale.
Information about the transaction: The date on which a document takes effect must be included in every document. If the transfer is made under any unusual circumstances, be sure to include them in this section. If the payment is divided into numerous parts, for example, indicate the amount of each part and the due date for each part.
Both the seller's and the buyer's signatures are required. The signatures are an acknowledgment that the vendor willingly turns over the indicated goods and that the buyer accepts them under the terms stated. Prepare two original copies of the document and preserve one for your records.
It is required to get your bill of sale notarized in Illinois if you're selling a car, a boat, a trailer, a gun, or anything else.