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Generic Bill of Sale Form - Maine
What Is a Maine Bill of Sale?
A Maine Generic Bill of Sale is a legal document that records the details of a transaction signed by a seller and a purchaser. It is essential in any transaction, especially if it is something expensive, for example, real estate or a vehicle. Along with a certificate of registration, a Bill of Sale is generally enough to prove that you are the new owner of an item. It describes the property and serves as a receipt for both parties. Since the courts recognize properly drafted Bills of Sale, it is important to compose them to protect the parties in the event of any disputes that may occur in the future.
Usually, this document includes the following information:
- Names and addresses of the parties;
- Description of the property;
- Date and location of the sale;
- Purchase price;
- Warranty clause;
- Signatures of the parties.
You can make your own generic Bill of Sale with our customizable online template or download a ready-made one below.
Do You Need a Bill of Sale in Maine?
Maine Bills of Sale have to follow certain rules:
- Offer. Two parties, the buyer and the seller, have agreed to exchange property for a certain sum of money;
- Consideration. The document demonstrates the amount of money paid along with the payment method;
- Acceptance. The form is signed by both parties to show they agree to fulfill the conditions of the contract, making the document legally binding;
- Legal intent. The seller and the purchaser are of age, have legal capacity, and do not fall under any outside influence or force.
The State of Maine has a specific government-issued Bill of Sale for the sale and purchase of a vehicle. In all other cases, there is no obligatory uniform template to use. To make it valid, the parties have to include all of the required information that pertains to the transaction and sign the papers. The seller keeps a copy of the document - not only for recordkeeping but also for tax purposes. If the registration for the item is necessary (for example, if a vehicle or a boat is being sold), the buyer needs to visit the appropriate agency or department and submit the original Bill of Sale with all required paperwork and proof of insurance.
Does a Bill of Sale Have to Be Notarized in Maine?
No, Maine does not require a notary public's certification for a Bill of Sale but it is generally a good idea to have a notary or witness to a sale in order to confirm the transaction has taken place. This can save any potential trouble which might occur should the seller or buyer contest the transaction at a later date.
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