A New Mexico general bill of sale is a legal document that proves a legal sale and purchase has been executed between two (2) private parties, generally for personal items. The form offers information regarding the seller and buyer, as well as proving a change of ownership.
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By Bill of Sale
Create a customized New Mexico personal property bill of sale. The New Mexico personal property bill of sale is state specific, editable and printable. The New Mexico personal property bill of sale form is used to transfer the ownership of personal property from a seller to a buyerA New Mexico bill of sale is a legal document used to transfer ownership of a valuable item from one person to another, based on the specific state laws of New Mexico (NM). The item can be any kind of personal property that is bought or exchanged for money, or traded for another item of value.
On a bill of sale document, the person receiving the item is referred to as the buyer, and the person giving up the item is referred to as the seller.
Much like a retail receipt, a bill of sale proves that a transaction took place, and documents the legal transfer of ownership. You should use a bill of sale in New Mexico if you’re buying or selling a car (or any type of vehicle), a boat, a gun/firearm, a motorcycle, or a horse.
Common Uses of a New Mexico Bill of Sale
New Mexico bills of sale are most commonly used for buying and selling motor vehicles. Other personal property of value such as boats, guns, horses, laptops, furniture, jewelry, and equipment are also frequently bought and sold using bills of sale.
This form protects both the buyer and seller in the event that there is a problem after the sale.
Because bill of sale laws vary across the US, you need to use the form specific to New Mexico if you’re buying or selling a valuable item in the Land of Enchantment.
How to Write a New Mexico Bill of Sale
Once the terms of the transaction have been agreed by both parties, the buyer and seller should complete a bill of sale form. If the item being sold or exchanged is not a car, boat, firearm, or horse, a general New Mexico bill of sale can be filled out by including the following:
Seller and Buyer Information
The buyer and seller need to provide their respective contact details, including their full names, addresses (including cities, states, and ZIP codes), telephone numbers, and email addresses.
Item Information and Price
This section may vary depending on the type of item involved in the transaction, but you’ll always need to write the agreed-upon sale price and describe the item’s condition. Noting any faults or damage will help you avoid disputes later.
- Bill of Sale;
- General Bill of Sale.
The state of New Mexico does not have any officially released form you have to fill out when selling or buying personal property. You can use a form that is convenient for you and it will be considered valid as long as it contains all the necessary information. Download our form through the link below or create your personalized New Mexico Bill of Sale using our customizable online template.
Does a Bill of Sale have to be Notarized in New Mexico?
State laws do not require this form to be notarized or witnessed.
Do You Need a Bill of Sale in New Mexico?
The New Mexico authorities do not require you to complete the document when selling or buying any minor property. However, you are strongly advised to do it when your deal includes any costly things. If properly completed, the New Mexico Bills of Sale has multiple purposes:
- Serves as a purchase receipt;
- Releases the seller from the responsibility for the sold item and its further use;
- Proves the indicated buyer is a new owner of the described item now;
- Contains important details about the sold item;
- Protects the legal interests of both parties of the sale;
- Serves as valid proof that substantiates the fact of the transfer of the described item.
To protect the interests of both the seller and the buyer, the document should contain the following information:
- Full name and address of the seller (you may add more contact information if you need, e.g. email or daytime phone number);
- Full name and address of the buyer;
- The detailed description that allows identifying the transferred item clearly, like the make, model, year, size, color, serial number, and other important information. If you add any accessories to the item, list and describe them as well;
- If the item you sell has any defects you are aware of, tell the buyer about them and list them on the document;
- Sales price. It is better to indicate the price both in words and digits;
- Date of sale;
- Additional terms of sale if any;
- Signatures of both parties.
The document does not require notarization in order to be valid. However, if you want to add an extra layer of protection to your deal, you may ask a notary public to certify your document. Fill out the form in two original copies. Give one to the buyer and keep the second for your records.
New Mexico bill of sale forms are legal forms that detail the specifics of the sale and transfer of personal property between two people. They include essential information about the buyer, seller, and property, and both parties must sign them. They can be used in the sale of any privately owned property.
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