After Purchasing a VehicleĪs long as the buyer is in possession of a valid bill of sale, they can lawfully operate a motor vehicle purchased in a private sale for up to 36 hours before registering it. If you’re buying or selling a vehicle in Colorado that is totaled, salvaged, or untitled, the bill of sale should specify the condition of the vehicle. But, if you choose to use one, it’s a good idea to have two copies - one for each party. You don’t need a bill of sale in Colorado. It should also be signed by both parties.

If you’re going to write a bill of sale in Colorado, you should include the price of the item, the date of the sale, the year, make, model, vehicle identification number (VIN) of the vehicle or another description of the property, and the name and contact information of both the buyer and seller. You can create your bill of sale in any language, but most downloadable forms in Colorado are in English. Additional Considerations Language Requirements

This is useful in the event the property is abandoned or involved in an accident, where someone will be looking for financial compensation from a responsible party. The seller can show that they transferred ownership of the property, and when that took place. The buyer has a legal document stating that they’ve agreed on a purchase with the seller and its terms. Bills of sale are also excellent tools for recordkeeping that you can pull out when it’s time to pay taxes, get insurance, or resell the property.įinally, a bill of sale gives both the buyer and seller a level of peace of mind and protection. The buyer is responsible for registering the property with the proper agency.Ī bill of sale can help prove the transfer of ownership if there is no title available or if you purchase a vehicle from another state. After closing the deal on a sale, it’s the seller’s responsibility to transfer the title to the new owner. Many items, such as vehicles, require a title in Colorado.

While a bill of sale isn’t a legal requirement to buy and sell property in Colorado, it’s a good idea for buyers and sellers to create one. Here’s what you need to know: Why Use One? While not required by law, a bill of sale might be essential to safeguard your interests and keep your records straight. In-person signatures are always valid, but you can also use PandaDoc to obtain a legal digital signature.Ī Colorado bill of a sale is a document that memorializes the exchange of ownership of a piece of personal property. Signature/Certification: The signature of the seller and/or buyer.As-is: Indicates that the item was sold as-is and without any warranties.Description: A description of the property being sold, including make, model, year, and VIN.Sales tax: Indicates whether or not sales tax was collected.Price: The price paid for the property.Date of sale: The date that the sale took place.Buyers: The person or party that is taking possession of the property in exchange for consideration.Seller: The person or party that is releasing the property.

Notarized car bill of sale