Purchasing a Mud Truck can be concerning when there is no title to transfer ownership of the vehicle. When this is the case, your best bet is a Bill of Sale which validates the transfer of ownership from the prior owner to the buyer. Most states require that a contract be in written form when the exchange of $500 or more occurs (some states require all contracts while others have higher thresholds).
The Bill of Sale requires certain requirements to make it effective and hold up in a court of law if the ownership is ever contested by another party. These requirements are defined by the elements necessary to form a binding contract and include the Offer (the exchange of the truck), Consideration (the money being paid in return), Acceptance of the Offer (Signatures of both parties), and Mutual Agreement.
Below is a Bill of Sale template that includes a provision stipulating that the vehicle is being sold As-Is and the seller is not be responsible for the future use of the vehicle. This protects the buyer from unwarranted claims. This is critical in the sale of a mud truck considering the amount of wear and tear these trucks endure. Also included is a provision that the seller has full authority to sell the vehicle and that no liens exist. This protects the buyer from future claims of ownership or lien from other parties.
If you have been injured in a commercial trucking accident, you need a truck accident attorney who understands the complexity of such a claim and has a track record of success in these types of cases.
|MUD TRUCK BILL OF SALE|