While the laws may vary across states, most jurisdictions do not require a bill of sale for a transaction, even with a boat. However, a bill of sale is an important document. It can ensure you, lenders and buyers all have a clear record of the transaction, allowing you to avoid potential liability or legal issues.
With technological advancements, the consensus is that a digital bill of sale is preferable to a handwritten paper document. Digital forms allow for signatures and often provide more security than traditional paper contracts or forms. Also, it is much easier for the author of a document to edit a digital document than a handwritten one.
Creating a bill of sale is a form of receipt and protection for the seller and buyer. The bill of sale offers more detail about the transaction and the product sold. When correctly signed, the document can protect a seller against claims of false or misleading sales tactics. Also, the document can help provide proof of ownership.
