A Bill of Sale provides proof of transfer of ownership from one owner to the next. I provide duplicate originals, one to the Seller(s) and one to the Buyer(s). A Bill of Sale protects the seller(s) if the buyer(s) fails to transfer ownership with the Office of Motor Vehicles (OMV). The buyer(s) will need proof of ownership to register the vehicle with OMV.
The process is simple. We agree to meet at a specific location. Both parties will be required to provide a valid identification. The seller(s) will provide the title to be notarized at the same time. Once the paperwork is notarized the buyer(s) will then be required to have valid proof of insurance prior to being able to title/register the movable with OMV. If the vehicle being purchased is titled in another state a copy of the seller(s) driver’s license will be required to accompany the Bill of Sale and Title to avoid paying a “double transfer.”
Boats/Motors & Trailers will require two separate registering entities. The Boat/Motor will be titled/registered with the Louisiana Department of Wildlife and Fisheries (LDWF). Prior to registering the boat/motor you will be required to provide proof of taxes being paid. The first special session of the 2016 Louisiana legislature enacted a provision now requiring private sales of boats between individuals to pay sales taxes. The appropriate form can be found at the following link: http://revenue.louisiana.gov/TaxForms/1331(4_16).pdf The taxes will be paid at the Louisiana Department of Revenue as well as any local taxes that may also be required to the respective tax collecting authority.
The trailer will follow the normal registration procedures as a motor vehicle at the Office of Motor Vehicles.
Other movables can be anything that either party wants to document a sale such as with a firearm. Most people do not realize there is no central “registry” for firearms. A Bill of Sale protects the seller when the decision is made to sell a firearm and provides proof of transfer of ownership.