B&S Transfer of title, insurance claims, theft.

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B&S Transfer of title, insurance claims, theft.

netexpress
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p.1 #1 · B&S Transfer of title, insurance claims, theft.

I've been granting and requesting clean and clear tittle to property on B&S (lenses and cameras) via a Bill of Sale for a while now. I started this once I found out that I couldn't insure some items without a bill of sale or appraisal. Also if I ever need to file a police report having this paperwork can be very helpful. So far both buyers and sellers have been very receptive. So I thought it might be time to post the idea to this forum for comment.

Here is a sample Bill of Sale. Please let me know your comments. I think ultimately this benefits the whole community. What do you think? Please post your comments...

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Bill of Sale

This Bill of Sale is made on this 14 day of June, 2012, between

_ Your Name, Your Address __ ("Seller") and

_ My Name, My Address____ (“Buyer”)

Seller, in exchange for consideration of _$10,975.00_, the receipt of which funds is acknowledged, hereby do grant, sell, transfer and deliver to Buyer the following goods:

_ Some Fancy Lens you paid half a year salary on, Serial # 555000001 _

Buyer shall have full rights and title to the goods described above.

Seller is the lawful owner of the goods and the goods are free from all encumbrances. Seller has good right to sell the goods and will warrant and defend the right against the lawful claims and demands of all persons.

___________________7/14/2012__
Signature of Seller / DATE

______________________________
Signature of Buyer

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Best regards,

Roland

Jul 15, 2012 at 12:41 AM

EB-1
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p.1 #2 · B&S Transfer of title, insurance claims, theft.

Normally I also have a section on terms of sale including the inspection/return period (typically one week for any undeclared functional defects), statement of warranty period or "as is" condition, etc.

EBH

Jul 15, 2012 at 12:50 AM

netexpress
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p.1 #3 · B&S Transfer of title, insurance claims, theft.

Ah yes, the warranty and remedies section - good idea. I always post this in my B&S listing but it actually should be in the BofS. Good point. Maybe a check list for universal application? Wording suggestions?

Thinking out loud about fill in items and check list options - we could publish an FM B&S BofS form in PDF. Just print it - fill in the bits and check the options and done!

Jul 15, 2012 at 12:53 AM

aborr
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p.1 #4 · B&S Transfer of title, insurance claims, theft.

IMHO, it's best to use a standard form for this type of thing, rather than making up your own, if there's a decent amount of money involved.

For example, the OP's form doesn't specifiy that the sale is of "personal property", and doesn't specify the County/State where the sale takes place. As a seller, you want to be protected from a possible dispute that could get you involved with tax or small claims court proceedings in some far-off juristiction. I'm guessing that the laws are different enough from State to State that you'd probably want to choose a form with wording tailored for the laws of your home State.

Jul 15, 2012 at 02:11 AM

Mike1.6
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p.1 #5 · B&S Transfer of title, insurance claims, theft.

That seems like a good idea Roland. How do you handle the signatures though. Do you send a signed copy once you receive payment? How about the buyer's signature?

Mike

Jul 16, 2012 at 03:08 PM

netexpress
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p.1 #6 · B&S Transfer of title, insurance claims, theft.

That concerns me regarding the state to state issue. Is there a good open source for state specific bills of sales and if so if the buyer and seller are in different states which one do you use?

Regarding the signature issue when I sell something I sign and date it and I assume the buyer when he/she receives he/she will sign it. I don't need a copy as the seller with the buyers signature. This is mainly for my records only as a seller but the main benefit is for the buyer to have proof of tittle.

Although in actual business business (as opposed to FM B&S personal business) I sign PDF documents using a tablet with an Acrobat plug-in. But that's not practical for many people.

Jul 16, 2012 at 10:54 PM

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