Technically, a bill of sale serves as a receipt much like you would have a receipt for an item bought at a store. It will record the owner's name, address, vehicle details, odometer reading, and other details so that they can prove they now own the car. While a bill of sale records the details of the transaction, a title is a document that proves the ownership of the vehicle.Ī title is for the new owner after they have bought the vehicle. ![]() You might be thinking, "Aren't we talking about a title?" Bill of sales and vehicle titles are different documents but are both important when passing a car from one owner to another. Recording this information protects yourself and the other party. ![]() It is typically the seller that will provide the bill of sale, including important information about the transaction for reference after the sale. These documents are legal documents that are valid in court in the case of a disagreement. ![]() ![]() In this article, we talk about what a bill of sale in Ontario is and what you need to do to get one.Ī bill of sale is a document that records the passing of an asset from one owner to another during a sale. One of the most important parts of the process to buy or sell a used car is to have a bill of sale, but what exactly is it?ĭon't worry, you won't have to hire a lawyer or pay any expensive fees. If you're looking to buy a car, or you've put yours up for sale, gone are the days when a handshake and verbal agreement was considered a sale.
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