The Idaho bill of sale is a document drafted between the seller and the buyer as proof of ownership transfer. It outlines the most important details about:
Parties to the bill of sale
The item that is transferred to the buyer
Disclosures of the seller and buyer
Place and date of bill of sale signature
The state agencies in charge of motor vehicle registration often provide the bill of sale form that can be filled out between the parties. However, for other items or when parties want to provide additional information about the transfer, they should draft their own bill of sale.
Idaho Bill of Sale Parties
The bill of sale is drafted and signed by the seller and the buyer. Exceptionally, if the parties decide to do so or it’s required by law, the bill of sale can be signed by one or more witnesses.
A seller is a person who transfers the ownership of their personal property to the buyer. In the bill of sale, they are also called the transferor, and there can be more than one seller.
A buyer is a person who takes ownership of the seller's property and, in return, pays the purchase price. They are also referred to as the transferee, and there can be multiple buyers listed in the bill of sale.
Buyer and Seller Disclosure
Many bills of sale include an “as is” disclosure. By signing this disclosure, the buyer agrees to purchase the item with all its flaws and damages. This limits the liability of the seller and protects them from any later claims, unless the damages were hidden or lied about.
Idaho Bill of Sale Description of Goods
This section contains all the relevant information about the transferred item. The description of goods includes different kinds of information depending on the type of item.
For example, in the bill of sale for the motor vehicle, the “description of goods” section will include the following:
Make, model, and production year of the vehicle
Vehicle identification number
Body type and color of the vehicle
For other types of items, the description should include all the information that individualizes the item and makes it distinguishable from other items of the same kind. If applicable, the description shall include any identification number related to the item.
Idaho Bill of Sale Purchase Price
The bill of sale serves as a receipt for the purchase of the item. Therefore, the purchase price is one of the essential elements of the bill of sale. The purchase price can be expressed in three ways in the bill of sale, as shown below.
Payment is a method where the buyer transfers a certain amount of money to the seller in exchange for the purchase price. This is the most common way of compensating the seller, and it can be done in cash, using checks, credit or debit cards, or via bank transfer.
With this method, the buyer transfers an item from their possession to the seller in exchange for the seller’s item. Additionally, the buyer can transfer a certain amount of money to the seller to compensate for the difference in value between the two items.
If the item is transferred to the buyer as a gift, the seller doesn’t receive any compensation. This method is often used for transferring the item between members of the same family.
Idaho Bill of Sale for Motor Vehicles (Cars) Requirements
If you purchased a motor vehicle, submit your bill of sale and other relevant documents to your local Idaho DMV office for vehicle registration.
If you are a new resident, you must register and title your vehicle in Idaho within 90 days.
Abandoned or Junk Vehicles
Vehicles that are damaged to the extent that the repair cost is higher than the vehicle's market value can be declared salvage vehicles, and the registration can be canceled. These vehicles can be transferred to another person using a general or salvage bill of sale.
Vehicles Sold by Dealers
When buying a new vehicle from the dealership, the dealer is authorized to handle all the documentation on your behalf and will issue a bill of sale you can use until you obtain the vehicle title.
Vehicles Sold by Private Parties
Private parties shall make a bill of sale that will be a valid proof of their rights and obligations that can be protected before the court and third parties.
Idaho Bill of Sale for Boats (Vessel) Requirements
The bill of sale for the boats and vessels should include the following:
Names, addresses, and ID numbers of the seller and the buyer
Make, model, and year of vessel production
Hull identification number (HIN)
Boat of vessel length
Description of any additional equipment that comes with the boat/vessel
Disclosure of any damages
Place, date, and signatures of the seller and the buyer
Idaho Bill of Sale for Firearms Requirements
Although Idaho doesn’t require firearm registration, you should make a bill of sale to protect your rights and limit liability.
The seller can use the bill of sale to protect themselves in case the firearm is used illegally after the purchase.
It is illegal to sell the firearm to gang members or persons associated with the gang. The bill of sale should include a disclaimer above the buyer's signature stating that the buyer is not associated with any gang or is a gang member.
Idaho Bill of Sale for Horses Requirements
The bill of sale for the horse or equine purchase shall include the following:
Information about the seller and the buyer
Horse name, breed, age, and gender
Disclosure of any flaws
Date and place of the bill of sale signature
Signatures of the seller and buyer
After signing the bill of sale, the seller will no longer be liable for the horse, and the buyer will have proof of ownership over the purchased horse.
Idaho Bill of Sale for Trailers (RVs) Requirements
Utility trailers in Idaho must be registered like any other motor vehicle. If there is no space to enter the purchase price on the title, the purchase price should be provided in the bill of sale and submitted to the Idaho DMV.
Park model RVs can be registered, or a personal property tax can be assessed.
Idaho Bill of Sale Other Requirements
Although the bill of sale models provided by the state agencies are only available in English, the parties are free to draft the bill of sale themselves in any language, as long as both the seller and the buyer understand it.
When registering a vehicle, the bill of sale should be submitted in English, or an official translation should be attached.
Idaho Bill of Sale Taxes
The bill of sale should say that listing a false purchase price for tax purposes is against the law and can lead to penalties.
Idaho Bill of Sale FAQ
Yes, a bill of sale written by hand is valid and legally binding in Idaho.
Both the seller and the buyer are signing the bill of sale. In some cases, witnesses can also sign it to confirm the document’s authenticity.
The best way to get a professional bill of sale used in Idaho is to download one of the customizable bill of sale templates available on our website.
All the parties to the bill of sale benefit from signing it. The seller can use the bill of sale as proof of the moment all liabilities have been transferred to the buyer, and the buyer can use this document as proof of purchase.