A tractor bill of sale form is a legal document that indicates the purchase of a tractor between the seller and the buyer. This document acts as evidence that the purchase of a tractor was legal. It includes the details regarding the tractor’s condition, model, and make. The information regarding the seller and buyer is also included in it in order to prove that the ownership of the tractor was transferred to the buyer rightfully.
Why is a tractor bill of sale required?
The tractor bill of sale form is needed to validate the transfer ownership of the tractor. This document is important to relieve the seller of his rights to the tractor. Moreover, it is also necessary to transfer all ownership rights to the buyer. It is a legally binding document. This document also makes sure that before making the purchase, the buyer was aware of the actual condition of the tractor.
How to write a tractor bill of sale?
The vehicle owner must put the following information in order to prepare a good tractor bill of sale;
At first, the tractor bill of sale includes the detail of the seller. The full name, address, license number, email, and phone number of the seller should be included. This section generally contains the primary data of the seller. The information provided regarding the seller should be accurate as it is necessary for documentation and integrity purposes. You may also like Equipment Bill of Sale Form Template.
After the seller information, there comes the buyers’ report. This will indicate the purchaser’s details. Here, you also have to clearly state that a transfer of ownership of the vehicle is being made, proved by the document. Furthermore, it should also clearly state the following;
- The buyer’s full name
- Address of the buyer
- The buyer’s license number
- The buyers’ email and phone number
On the sales form, the important information about the vehicle is also required to be represented. The bill of sale should include the following;
- The make of the tractor
- Its model
- The year it was produced
- The Vehicle Identification Number (VIN)
- The mileage (whether in miles or kilometers of the tractor)
- A full description of the vehicle
- The condition it was sold in
The seller must provide all the above information in order to inform the buyer of the vehicle specifications and conditions.
The purchase details include all the necessary information that the purchase of the tractor has. Usually, it includes the number of units, payment method (cash or wire transfer), and the warranty given to the buyer. Also, it just includes the payment details and date of sale.
- Purchase price: the purchase price of a tractor consists of the total cost used in purchasing the machine(s). The commission earned by the seller/advertiser, include its details. Moreover, you should also include the price of the purchase per unit and the denomination used in payment. The purchase price would represent in the bill of sales.
- Purchase date: you have to make sure that the date of the sale is appropriate and clearly stated in the bill of sale. Define when the tractor is sold and when the buyer can take ownership of the machine legally in the document.
The concluding part of the tractor bill of sale is notarization. The witnesses have to validate the sale of the tractor. This proves the authenticity of the sale and prevention fraud. For each notary public, you should collect the following information;
- Full name
- Fees charged
- Means of identification
- The expiration of the identity card
In addition, the notary’s signature, date, contact information, and a valid statement should be given.
Tractor Bill of Sale Form
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Fillable Tractor Bill of Sale Form
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In conclusion, a tractor bill of sale form is a document that makes sure the purchase of a tractor was legal between the buyer and the seller. It should include all the necessary details in order to prove that ownership was rightfully transferred to the buyer.