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A Minnesota bill of sale is used to document the sale of a personal item such as a television, car, boat, laptop, furniture, jewelry, or a gun. The purpose of a Minnesota bill of sale is to document specific information about the item being sold as well as the identity of the buyer and the seller. There is no legal requirement to have a Minnesota bill of sale notarized. In many cases, a bill of sale is a document that is used for your personal records. Both the buyer and the seller should keep a copy of the completed bill of sale.
In Minnesota, the most common bills of sale used include a general bill of sale, a bill of sale for a motor vehicle, a bill of sale for a boat, and a bill of sale for a gun.
To write a Minnesota bill of sale, you need to have certain basic information. This information belongs in the bill of sale no matter what sort of item you're selling. First, you're going to learn about the common information that goes in every bill of sale. Then, you'll learn how to describe the items for the most commonly used bills of sale.
Every Minnesota bill of sale should include the date that it was drafted. You can place the date at the top or you can put it in the sentence that identifies the buyer and the seller. If the buyer plans to pay for the item on a date that is different than the date the bill of sale was created, you'll want to insert that date where the price of the item is listed. Finally, the bill of sale should include the date that both the buyer and the seller sign the document.
In a Minnesota bill of sale, you need to list the full legal name and physical address of both the buyer and the seller. You should consider listing either the driver's license number or the state identification card number of both individuals. This information can help in the event that the item is stolen and you must prove who has the legal right to possess the item.
Now, let's talk about the payment for the item. Even if the item is given as a gift, you should create a Minnesota bill of sale that designates the item as a gift to the buyer. This creates proof of ownership for the person receiving the gift. If you're conducting a trade, the item that you'll receive in exchange for the item you're getting rid of should also be described. For monetary compensation, list the amount first in words and then in numbers. For example, three-hundred and twenty-five dollars and zero cents ($325.00).
You can use a seller's disclosure to inform the buyer of any defects or problems that the item has. This is important because it helps protect you, as the seller, from being sued. You can list physical imperfections, such as a scratch in the paint job of a bicycle. You can list occasional issues an item may have, such as a Playstation 4 that sometimes won't connect to the Internet through wi-fi.
Finally, a Minnesota bill of sale should be signed and dated by both the buyer and the seller.
A Minnesota general bill of sale is used for common items such as a bicycle, a television, a gaming system, jewelry, or electronics. When you describe the item you're selling, you should add any serial number, model number, or registration number that it may have. You'd also want to use other descriptors depending on the item. For example, if you were selling a laptop, you'd want to document the make and model, hard drive size, memory, whether there's a CD or DVD drive, and the color of it. You might also want to list in the bill of sale if you're including the power cord and any other accessories such as a cooling pad.
When you draft a Minnesota bill of sale for a motor vehicle, you should document the year, make, and model of the vehicle; the VIN; the odometer reading, and if there is any damage to the vehicle. An odometer disclosure is not required for vehicles that are less than ten years old. The damage disclosure is only required if the vehicle is under six years old. If there's a lien on the vehicle, you'll have to get a notarized lien release.
A Minnesota bill of sale for a boat should include the make, length, and year the boat was built; the Hull ID; the registration number; the odometer reading; and the title number. The bill of sale should also disclosure whether a trailer or a motor will be included with the sale. If not, you can simply list that there is no trailer or no motor. If the sale includes one or both of the items, there's certain information you should put in the document. For the trailer, you should list the make and the year. For an outboard motor, you should list the make, year, and the horsepower.
When you prepare a Minnesota bill of sale for a gun, you should include the make, model, caliber, and serial number of the gun. If you're trading your gun for another gun, the make, model, caliber, and serial number of both guns should be included.
No, a Minnesota bill of sale is not required to register a vehicle. According to a PDF provided by the Minnesota Department of Public Safety, there is no proof of ownership required other than a title. However, the seller (not the buyer) may need to complete the Report of Sale form.
No, a Minnesota bill of sale is not required to register a boat. You will need to complete the Universal Registration Form provided by the DVR Licensing Center and be prepared to pay your registration fees.
No, a Minnesota bill of sale is not required to register a gun. Minnesota does not require the registration of firearms. A Minnesota bill of sale for a gun is used as a personal record.