When purchasing or selling a Trailer in any state you always want to document the transfer of vehicle from the seller to the buyer. Typically this is done by signing the “Transfer by Owner” or “Assignment” section on the rear of the original title. We also suggest securing a valid Wisconsin bill of sale to properly document the sale including the sales price, condition of the vehicle, and hold harmless language to protect the buyer and seller.
A Trailer Bill of Sale is an agreement for the sale of any type of structure that can be towed by a vehicle. The purpose of most trailers is for the transfer of items such as boats, vehicles, or everyday storage. They do have a vehicle identification number (VIN) which must be incorporated into the agreement as well as the make, model, number of wheels, and any other information that should be included in the sale. Upon the signature of the parties and transfer of the trailer along with the money, the sale becomes complete and final. The new owner will want to request obtaining an original copy of the form as they will need it for registration, title, and obtaining license plates in their respective State.
When to Use a Trailer Bill of Sale
The Trailer Bill of Sale is a document that records the details of a transaction made between a buyer and a seller for new and used trailers. Trailers can be used to transfer items, vehicles, boats or equipment and are usually towed by another vehicle.
This form is important because it puts everything out on paper. It protects the buyer and seller from risks that come from liability and fraud.
The purpose of trailer bill of sale is to recognize the selling of large transport vehicles known as trucks to the potential buyer most likely business minded people or private companies. The trailer bill of sale is under the Automobile Bill Of Sale which eventually seen to have a template in the website for easy access, the template provides readymade bill of sale for trailer and other types of vehicle that can be downloaded in a free format via Microsoft Word.
Agree to meet with prospective buyers in the hopes that the trailer can be sold for the asking price. When speaking with any party that is looking to purchase, ensure that they are qualified by asking them what they will use the trailer for and if they have the cash necessary to complete the sale. Most lenders will not make underwrite a loan for a trailer unless a boat or other vehicle is apart of the sale.
A trailer is basically a vehicle that is towed by another vehicle. These vehicles are usually used to transports goods and materials. Recreational vehicles, mobile homes, or travel trailers are some of the vehicles that fall into this category. In case you own a vehicle that falls into the trailer category and wants to put it up on sale, a trailer bill of sale can be used.