Minnesota General Bill of Sale
Whenever you are selling a personal item or property, you will need to create a Bill of Sale, since the new owner will need to register the item after you sell it. The documents are required for this, so you cannot do it without them. If you sell a property, you should create a Bill of Sale because you can use it as evidence that you own it, or to prove that you're no longer responsible for it.
Before completing the general bill of sale, please review the various formats and download options available on this page. Word and PDF versions of the general bill of sale are available.
Phase one. Indicate in the first section of the paperwork the date that the document was drafted. Be sure to enter this date correctly. After that, list both the seller and the buyer's full names. You should also include the buyer's and seller's addresses. Ensure you have the buyer's and seller's postal addresses.
Phase two. This section of your listing is where you can include all the necessary information and details about your property or item. It includes serial numbers, dates of manufacture, colors, and brands, among other details. Pay attention to the details of the product being purchased in order to avoid being misled.
Phase three. In this section, you can find all the financial details regarding the purchase. Be sure to include both words and figures when you provide a dollar amount. Explain, if applicable, your preferred payment method in this section. The payment can be made in installments, as an initial payment, or later. Exchanging items is also possible. Just choose the box which suits your preferences.
Phase four. Typically, general bills of sale are used to sell personal property without a buyer's guarantee. Often, such bills will state that the property is being sold "as is". In order for future agreements to be successful, both parties (buyer and seller) must fully understand this section.
Phase five. As the last step, both the buyer and seller must sign the bill of sale. It is necessary to notarize the sale in order for it to be legally binding. A duplicate of the document should always be maintained for your own records, for future reference, for tax purposes, etc.