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If you have agreed to buy or sell a trailer, you will want to sign a bill of sale as proof that the transaction has been completed. We've put together a guide to what is included in the document and where you can find a free template online to help you write it.
What is a bill of sale (trailer)?
A bill of sale for a trailer acts as a receipt for the sale and purchase of a trailer that can be towed by another vehicle, including a boat trailer or flatbed trailer. A bill of sale can be used to document a variety of purchases, so the bill of sale you need will contain specific details of the trailer.
A bill of sale is subject to state law in Australia. New South Wales replaced bills of sale with security interests under the Security Interests in Goods Act 2005, so a bill of sale must be registered as a security interest.
When should I use a bill of sale (trailer)?
A trailer bill of sale is needed when you agree to buy or sell a trailer. It documents the terms of the transaction and ensures it is completed smoothly. The seller should deliver the bill of sale to the buyer after payment is made. The buyer can also provide a bill of sale if the seller does not.
Bill of sale (trailer) vs sale agreement.
A bill of sale differs from a sale agreement in that while a sale agreement is used first to establish the intention to buy and sell goods, a bill of sale is used during or after the exchange. It's purpose is to document the transfer of ownership from the seller to the buyer.
What does a bill of sale (trailer) include and not include?
A bill of sale for a trailer includes the key information of the transaction, including the details of the buyer and seller and details of the trailer.
The information in a trailer bill of sale includes:
- Location and date of sale
- Sale price and payment method
- Contact details of the buyer and seller
- Details of the trailer, such as model, year, Vehicle Identification Number (VIN)
- Warranties and insurance
What is not included in a bill of sale (trailer)?
The document does not include the terms of the sale covered in the sale agreement, such as the condition of the trailer and terms of payment.
How effective is a bill of sale (trailer)?
A bill of sale is effective as a receipt that both parties can keep to prove that the transaction was agreed to and completed. It can be used to register the transfer of the trailer's registration to the new owner with the relevant licensing agencies.
A bill of sale can also be used to prevent unwanted liability if something goes wrong with the trailer and guard against fraud. If witnesses sign the document it can be used as evidence if there are legal issues raised concerning the sale in the future.
A bill of sale is more effective than an invoice because it's issued after the buyer has paid and carries legal weight.
Do I need a lawyer for a bill of sale (trailer)?
You do not need a lawyer to write a bill of sale. A bill of sale in Australia is subject to the general principles of contract law. There are legal templates available online that you can use so that the document includes all the necessary details.
Get access to customisable bill of sale (trailer) templates online
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How do I write a bill of sale (trailer)?
A bill of sale for a trailer is a simple document that should be written in clear language. It is a proof of purchase rather than a contract so does not need to include all the details of the sale agreement that it accompanies.
It should outline the agreement clearly in terms of the details of the trailer and any warranties or liabilities and express the intentions of each party so that they know where they stand and can refer back to the document as needed.
Where to get free legal documents and templates like a bill of sale (trailer).
- Lawpath. Lawpath is an online legal resource for small businesses and entrepreneurs. It includes free samples of its legal templates, including a bill of sale (trailer). Keep in mind you need to sign up for a plan to customise and download its templates.
- Law Depot. Law Depot provides a range of free online document templates to download and customise, including a bill of sale template.
- LegalContracts.com. LegalContracts.com offers an extensive library of legal document templates, including a bill of sale (trailer). You can customise and view a draft online for free but need to sign up for a free trial or premium license to download the document.
- Wonder Legal. You can browse more than 140 legal document templates on Wonder Legal's website, all of which can be customised and downloaded for a one-time fee. At the time of writing, the bill of sale costs $39.99 to download.
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