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An Arkansas bill of sale is a handwritten or typed document that shows the transfer of legal ownership of a certain item from one person, known as the seller, to another person, known as the buyer. A bill of sale is important because it acts as proof that someone has the right to possess the item in question. Once the bill of sale is completed, you should doublecheck that it includes all of the required information and is dated and signed by the involved parties. Make sure that you keep a couple of extra copies of the completed bill of sale for your records.
In Arkansas, the most common bills of sale include one for general property, motor vehicles, boats, and guns. Despite what the bill of sale is used for, it will have some basic information about both the buyer and the seller. You'll learn more about that in the next section.
Ultimately, the information you need to include in an Arkansas bill of sale will depend on the item involved. However, there are some basic items that should be included in any bill of sale. The basic information includes the name; physical address; and driver's license number of both the buyer and the seller. From that point, the information in the bill of sale will depend on the item. At the bottom of any bill of sale, both the buyer and the seller should print their name, sign the document, and date it.
For a general bill of sale in Arkansas, you must include some information about the item being sold. You should include a good description of the property. You should also include the serial number, model number, or other identifying information. For instance, if you're selling a television, you could include the make, model, and serial number of the television. You could also include a description of it. For example, a 52" flat screen television, working condition.
Next, you must include information about the trade or purchase price. You should enter the amount of money in words and then in numbers. For example, "Two-hundred dollars and seventy-five cents ($200.75)." Next, you'll include the date of the sale. If payment for the item will be made at a later date, the payment date should be included. You can also include whether the buyer is being gifted the property. If you're accepting a trade, you should describe the item that you're receiving in exchange.
In addition to information on the buyer and seller, you must include the VIN from the vehicle's title; the make, model and year of the vehicle; the primary color of the vehicle; any secondary code; and information on a trade-in vehicle if one is being used. Because vehicles are often sold by businesses, it's important to address how to handle that. If the seller is a business or a car dealer, the bill of sale should include the company's name and the physical address.
An Arkansas bill of sale must include an odometer disclosure for vehicles less than 10 years old. The reported odometer reading must be accurate. If the odometer reading now exceeds mechanical limits, the disclosure must include that information. You should also include whether there is an odometer discrepancy. The disclosure must include the name of the seller.
The price of the vehicle along with any trade-in value (if applicable) must be included as well as list the taxable amount. An Arkansas bill of sale for motor vehicles must include a warning about what happens if the buyer or seller attempt to avoid paying the proper tax on the vehicle.
An Arkansas bill of sale for a boat must include the same basic information about the buyer and seller (along with signatures). The document should also include the make and year; the length; Hull ID; registration number; an odometer reading listed in hours; and the title number. The bill of sale should also list whether or not a trailer is included. If a trailer is included, you must include the make and year. If an outboard motor is included, you must include the make, year, and horse power of the motor.
In addition to the basic information and signatures of both the buyer and the seller, an Arkansas bill of sale for a gun should include information about the make; type or model; caliber; and serial number of the gun. You must also include specific information related to the trade or purchase price. First, you should list the purchase or trade price in words and then in numbers. Next, you will include the date that the payment was made. If the buyer will pay on a different date, that date should be listed. You should include the date that the sale must be completed by. If you have other terms for the sale, it should be included. You should add information about the traded item if there is one.
Yes, you need an Arkansas bill of sale to register a motor vehicle. The vehicle must be registered within 30 days of buying it. If this is the first time the vehicle will be registered in Arkansas or if the vehicle was previously registered in another state, you will need to undergo a VIN inspection during the registration process.
The vehicle registration process takes place at a Department of Revenue Office that is in your area. If you did not buy the vehicle from a dealer, you'll need a completed Form 10-381 to title and register the vehicle. If you've purchased the vehicle from a dealer, you'll need a copy of the Manufacturer's Certificate of Origin. If it is a leased vehicle, you'll need a signed copy of the lease agreement. You'll need an odometer disclosure if the vehicle is less than 10 years old. You can either complete the disclosure on the back of the title or you can use Form 10-313.
You must have proof from your county assessor's office that shows the vehicle has been assessed or that it will be assessed this year. You'll also need to provide proof that you've paid your personal property taxes. You'll also need to take proof of insurance with you and be ready to pay all of your registration fees.
Yes, an Arkansas bill of sale is required to register a boat. You are not allowed to operate the boat until it is registered with the state. Boats must be registered within 30 days of their purchase. However, if your boat doesn't require a motor or sail, you do not have to register it with the state. For boats that must be registered, the process is completed through a Department of Revenue Office.
You'll need an Arkansas bill of sale, proof of insurance if the boat has an engine of 50 HP, proof that the boat has been or will be assessed this year, show that you're current on your personal property taxes, and be ready to pay your registration fee in full.
No. Although Arkansas Statutes 5-73-301 through 5-73-321 do not list any specific requirements, such as a bill of sale, to transfer the ownership of a gun, using a bill of sale is still beneficial. It helps document that you have or transferred legal ownership of the weapon. An Arkansas bill of sale for a gun will also make the concealed licensing process easier because it proves that you own the gun for which you are seeking a concealed license.
In Arkansas, you must be at least 18 years old to purchase a gun. Those under the age of 18 must have written consent or express consent of their parent or guardian to buy a weapon.