This will ensure the seller can document the sale of their equine if property is damaged or someone is injured during its use.When purchasing or selling a horse in Tennessee you always want to document the transfer of the equine from the seller to the buyer. We also suggest both the seller keep a copy of the Bill of Sale, and the buyer keep the original. We always suggest locking up your bill of sale in a filing cabinet or safe, where a combination or key is needed to access Does the Seller Need a Copy? If lost, you won’t be able to prove ownership if someone claims the horse is theirs, and you may have some difficulty selling. What Should the Buyer do with the Bill of Sale?Īfter you have made your purchase and received an executed bill of sale the first thing you should do is put it in a secured location. A contract to complete an illegal act is not binding. The contract is also valid only if it is lawful. Usually in a numeric and written form.Īcceptance: Signatures of both parties on the bill of sale.Ĭompetant Parties and Legal Intent: Both parties entering the contract must be competant (age, mental capacity, and not impaired or forced). May also include conditions of the sale for the buyer and the seller.Ĭonsideration: The amount of money being exchanged.
Offer: The agreement to exchange the vehicle for an amount of money. Each state has different rules for what they consider a valid bill of sale, but a contract itself must abide by the following rules: What Does a Bill of Sale Need to be Valid?Ī bill of sale acts as a contract between the buyer and seller of a horse. In short, a properly executed Bill of Sale will protect you from future liabilities. Whether you giving or receiving cash for an item, you want proof of the transaction in the event someone makes a claim against ownership (if you are the buyer) or if someone is injured on the horse (if you are the seller). There is one general reason why you want to get a Bill of Sale in Nebraska when purchasing or selling a horse:ġ. We suggest securing a valid bill of sale to properly document the sale including the sales price, buyer and seller warranties and details regarding the health condition of the equine.
When purchasing or selling a horse in Nebraska you always want to document the transfer of the equine from the seller to the buyer.
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