What is an as is bill of sale form?
A bill of sale certifies the transfer of ownership between a seller and a buyer, freeing a seller of liability and proving the buyer’s ownership. It’s typically used for major purchases, like vehicles, and is necessary for obtaining a vehicle title.
Several different types of bill for sale forms exist including as is, conditional, quitclaim, and bill of sale with warranty (the standard).
Types of as is bill of sale forms and when to use them.
Bill of sale forms come in different types for different situations. Here are the most common types of bill of sale forms and when to use them:
- Bill of sale with warranty. This is the standard bill of sale form. It details what is being sold — typically a large purchase like vehicles, motorcycles, boats, and even purebred animals — and lays out specific guarantees from the seller to the buyer. It clearly states that the buyer owns the item in question.
- Quitclaim bill of sale. In this type of bill of sale, the seller does not guarantee that the item being sold is owned free and clear. They do not guarantee that there are no claims against the item. If there is a lien against the item, it passes with it to the buyer, making the buyer now responsible for settling the lien or claim. Quitclaim bill of sale forms can be useful when transferring ownership of property.
- Conditional bill of sale. A conditional bill of sale form states that the transfer of ownership depends on the buyer meeting certain conditions. These bill of sale forms are commonly used for situations like purchasing a car on a payment plan or buying an animal from a breeder.
- As is bill of sale. When a buyer signs an as is bill of sale form, they agree to purchase an item in its current condition, accepting any faults that come with it, known or unknown at the time of purchase. The seller doesn’t make any guarantees to the buyer. As is bill of sale forms are common for many types of sales, including vehicles, equipment, and personal property.
How is an as is bill of sale different from a regular BOS?
In a regular bill of sale (BOS), the seller provides some form of guarantee to the buyer. The seller certifies that they own the property free and clear and are passing on a clear title to the buyer. They may also include guarantees on the item’s condition.
In an as is bill of sale form, the seller does not provide these guarantees.
How an as is bill of sale works for buyers and sellers.
Whether you are buying or selling, an as is bill of sale form may make sense for you. Here’s what you need to know as a buyer and as a seller.
As is bill of sale: information for buyers.
An as is, absolute, or no-warranty bill of sale means that you agree to purchase an item outright, exactly as is, with all its faults, clear or hidden. This is a risky move for big purchases. Why? Say you buy a $30,000 car that appears to be in mint condition — but underneath the hood are several expensive problems just waiting to surface. When your new car breaks down in the middle of the highway, you have no legal recourse since you agreed to the seller’s as is terms.
However, an absolute bill of sale also gives you complete and immediate ownership of the item, barring the seller from making any further demands. This type of bill of sale is a good option if you’re confident in your purchase, can pay in full, and seek swift and concrete legal ownership.
How to write a bill of sale for a used car.
As is bill of sale: information for sellers.
As a seller, an as is bill of sale is a good option for a used item because it shelters you from liability should that item be found faulty or have unforeseen problems — giving you peace of mind and saving you money.
Creating an as is bill of sale form is easy.
You, as a seller, are responsible for drafting the bill of sale. You can easily put together an airtight as is bill of sale and store, send, and safeguard your transaction. Who keeps the bill of sale, the buyer or the seller? Both should keep a copy for their records.
Explore how you can use Adobe Acrobat to build your as is bill of sale, facilitate a seamless process with the buyer, and scan to PDF for safekeeping.