Bill Of Sale
What is a Wisconsin Bill of Sale?
Even if you are in a hurry to purchase a new car, make sure to take the adequate time to have all of the necessary paperwork in place, such as the bill of sale. One of the most important documents for proving ownership to obtain a car title and to register your new vehicle, the motor vehicle bill of sale can be prepared by the buyer or the seller at the time of the transaction. This legal document is required in many states, and encouraged in many others. The DMV bill of sale outlines information about the cars and the details of the sale such as the seller, purchaser, amount paid and the date the sale took place. This document also confirms the transfer of ownership of the vehicle to the purchaser and relieves the seller of any interest in the vehicle.
Is a Bill of Sale Necessary in WI?
The state of Wisconsin requires a motor vehicle bill of sale to be presented in order to register a car in the new ownerâ€™s name. If buying through a private individual, make sure to have a bill of sale form correctly filled out, signed and notarized to confirm the sale. In Wisconsin, licensed dealerships are responsible for completing all paperwork within seven days of the sale, and the dealership should provide the purchaser with a DMV bill of sale. The motor vehicle bill of sale should state that you purchased the vehicle, as well as the name of the seller, and all pertinent information regarding the vehicle being sold. In the event that a title is not available, the bill of sale provides proof that you own the vehicle. It does not ever take the place of a Certificate of Title for a vehicle.