The bill of sale can be legally enforceable document and safeguard you in the event of selling your personal property to another. If you fail to legally document your transaction on paper, then there's no evidence of the transaction which means there's nothing to prove that you had or have any claim to the property. A bill of sale can ensure the rights of the consumer for both sellers as well as the buyer. The use of a invoice of sale can be essential when you're the buyer, but is essential for sellers too.
A few things that a bill sale should include includes the day of sale, the person who sold it the item, who bought it and what price they spent for the item. In Arizona each seller(s) as well as the buyer(s) must notarize their signatures. In the event that an Arizona bill of sale is not notarized, the document is invalid and is not legally valid. Each party must also be present in front of the same Notary simultaneously. However, Arizona state does allow an additional notary acknowledgement to be attached to additional signatures.
One of the most important points to keep in mind to remember when filling out the formal form that you use "OR" and "AND" between the named names in case there several names of the owner. Additionally, if the your property's ownership is transferred to a business entity , at least two signatures from persons authorized to sign are required. The organization documents must be also provided. Corporate organizational documents can comprise things such as Articles of incorporation, Partnership Agreement, Articles of Organization and more.
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