If you want to purchase a boat in the State of Tennessee, it is critical to use a Tennessee boat bill of sale form to complete the sale. The Tennessee boat bill of sale is a legal document recognized by the state of Tennessee since it proves the transfer of ownership between the buyer and seller. It provides all of the relevant details regarding the sale such as buyer and seller’s full names, purchase price, date of sale, witnesses, and the notary public information.
The bill of sale template cushions all parties involved from illegal activities arising from the sale agreement. It contains the origin of the boat, and a customer can’t purchase it without notarization to validate the sale. The document is also an essential requirement during the registration and titling process.
Tennessee bill of sale templates – this page will let you discover more about some other bills of sale you can use in Tennessee.
This article will give you an overall idea of what a bill of sale is and how you can benefit from using it.
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According to Tennessee laws, all powered boats must have registration numbers before operating in the waterways. Whether you have purchased a brand new or used vessel, you must register it and get a new ownership title (click here for more details on how to make a successful transaction involving boats). Registered vessels from other states can navigate in Tennessee waterways unless it becomes a primary operational midpoint, at which the boat must undergo registration.
After collecting all the documents, you should visit your County Clerk office for the sole purpose of registering your newly acquired watercraft. First, the clerk in charge will issue you with a registration application form that you must complete. Another vital requirement is the bill of sale form that displays all the particulars to register your boat successfully.
If you register your vessel for the first time, the seller or the county clerk should put a verification stamp indicating that the seller has cleared all the sales tax charges.
If you cannot make it to the County Clerk’s office, you can gather all the documents and send them via mail. The clerks will receive and process your registration number and title.
The bill of sale form is an essential document that is required to complete the registration process since it contains all the particulars of the sale. Below are the details in the bill of sale:
Sometimes, purchasers might have traded in an old vessel for a new one and pay up the difference in the selling price. In such a case, the trade-in information must be captured in the bill of sale, such as the sum of the difference, boat condition, and final cost.
All parties involved in the sale will receive a copy of the sale form and the buyer will get the original document for record-keeping and proof of ownership.
The details below are based on our custom-made bill of sale template. We strongly recommend using the local official document if possible.
Step 1: Indicate when the document is created.
Step 2: Provide the seller’s and purchaser’s details:
Step 3: Enter the information about the boat that you are selling:
Step 4: Indicate the transaction method and amount.
This part also requires specifying the date of the transaction and the total sum decided upon by both parties of the deal. After that, decide on one sale method:
Next, decide on one transaction method:
Lastly, specify if the purchase cost includes all applicable taxes.
Step 5: Go through standard provisions and make sure that both sides have an understanding of them.
This part typically contains the “as-is” passage that implies the item is purchased without a warranties.
Step 6: Place your signature(s) in the appropriate fields.
The buyer is normally not requested to sign the bill of sale. Yet, you will end up more protected against legal issues if both sides sign the document. To avoid risk, the buyer and seller may find a person who’ll witness the deal and sign the form too.
Step 7: Have a notary public witness the form
Despite the fact that notarization is seldom necessary, it may serve as yet another way to guard against legal troubles.
The original bill of sale copy has to be presented to the purchaser as they are going to require it to get a title to their newly bought boat. There are two ways here: you must either prepare and sign two identical bills of sale or make a duplicate for the seller to keep.