A New Hampshire bill of sale serves to record the purchase of a vehicle, boat, horse, or firearm between the buyer and the seller. As a legal document, it is commonly used in the registration procedure and can be used as proof of ownership.
The document itself must contain information about the buyer and seller and the purchased goods, which will differ depending on the type of item being purchased.
By including this important information in the bill of sale, both the buyer and seller can ensure that the transfer of ownership is properly documented and that there are no disputes over who owns the property in the future.
New Hampshire Bill of Sale Parties
The seller and buyer are the main parties in the bill of sale.
The seller is the party that transfers their personal property to the buyer in exchange for the purchase price.
The buyer is the party that pays the purchase price for the purchased item.
Buyer and Seller Disclosure
Acquiring a certain property should be a mutually beneficial arrangement that does not expose either party to potential risks after the purchase has been completed.
To prevent potential litigation, the seller should disclose if the item has any physical or legal defects. If the buyer still chooses to purchase the item despite these defects, it must be documented in the bill of sale as an "as is" clause.
The sellers of motor vehicles should include the odometer disclosure in every motor vehicle bill of sale. The number of miles driven indicates the condition and quality of the vehicle and affects its price, which is why the seller should not present falsified data or reset the odometer.
New Hampshire Bill of Sale Description of Goods
This section contains all the relevant information about the transferred item and should include:
Make, model, color, and production year
Description of any damages or flaws
Identification number (eg., VIN, HIN, etc.)
Description of additional equipment
Odometer reading for mother vehicles
Damages and flaws
New Hampshire Bill of Sale Purchase Price
The three most frequently used methods of compensation for the purchased item are:
Transactions in everyday life are typically settled with cash, credit or debit cards, and checks.
In usual trades between a buyer and a seller, money is not always involved. However, the buyer must provide cash to make up the difference if the value of the item they are exchanging for the purchased item is less than its value.
This method is usually practiced between family members or business partners. One party gives the other a personal item, while the other party has no obligation to pay for the transferred item. The bill of sale should outline that it is a gifted item and its value.
New Hampshire Bill of Sale for Motor Vehicles (Cars) Requirements
Motor vehicles in New Hampshire must be registered, whether they are purchased from a dealership or a private seller. A bill of sale is not required for the registration process, except for vehicles exempt from the title, in which case it is mandatory.
However, it is suggested that the parties sign a bill of sale as proof that the ownership has changed hands.
The bill of sale should contain the following details:
Make, model, and color of vehicle
Vehicle identification number (VIN)
Model and manufacture year
Body type and number of cylinders
Personal information about the buyer and seller and their signatures
The regulations on mandatory registration apply to vehicles purchased outside of the state, which implies that a bill of sale is not required. But still, it is a good idea to create one to avoid any disagreements and strengthen your legal liability.
Abandoned or Junk Vehicles
To obtain a salvage certificate, a junk or salvage vehicle must first pass a safety check. Following that, it can be registered and issued a salvage vehicle title.
Only then can it be sold, and the bill of sale should state that the parties are aware of the vehicle’s condition and have agreed to purchase it.
Vehicles Sold by Dealers
A bill of sale is not required when purchasing a vehicle from a dealer. However, it is a good idea to complete one to have proof of the transaction.
Vehicles Sold by Private Parties
Generally, to buy a vehicle from a private party and transfer ownership, a title transfer is required.
On the other hand, if the vehicle is exempt from titling, a bill of sale is required as proof of ownership transfer.
New Hampshire Bill of Sale for Boats (Vessel) Requirements
To legally operate a boat on public waters in New Hampshire, registration is mandatory as per the state's Department of Motor Vehicles (DMV). In addition to the application and the required fee, proof of ownership is a necessary requirement, which can be fulfilled by providing a bill of sale.
In that scenario, the bill of sale should include specific information about the vessel, and the list of information should be longer than in other cases.
New Hampshire Bill of Sale for Firearms Requirements
A bill of sale is not required to purchase a firearm in New Hampshire.
It is still highly recommended to draft a bill of sale and enter accurate data to avoid potential penalties and be sure that the weapon was sold to a person who is not prohibited from possessing a weapon.
New Hampshire Bill of Sale for Horses Requirements
If you decide to purchase a horse or other livestock, it is safer to verify the ownership transfer with a bill of sale that describes the horse's physical and health qualities.
New Hampshire Bill of Sale for Trailers (RVs) Requirements
If a trailer with a gross weight of less than 3,001 pounds (exempt vehicle) is being sold or purchased, a bill of sale is obligatory.
The bill of sale must provide information about the parties involved in the transaction and include details about the trailer being sold, such as its make, model, and other relevant characteristics.
New Hampshire Bill of Sale Other Requirements
Generally, parties can write a bill of sale in any language they can understand. However, the bill of sale must be written in English to be valid evidence in court or at the DMV.
The buyer and seller should provide several copies for personal records and one to be used by the official authority for the registration and title procedures.
New Hampshire Bill of Sale Taxes
According to the Department of Revenue Administration, there is no sales tax for goods purchased in New Hampshire.
There are no legal obstacles for the parties to use a handwritten bill of sale as long as it contains all the mandatory elements.
To provide extra authentication, the seller and buyer can agree to have witnesses sign the bill of sale in addition to their own signatures.
Our law-compliant bill of sale templates are suitable for use in any transaction involving the sale of goods. You can download them for free from our website.
Since the bill of sale is a legally binding document, the buyer will have proof of the completed transaction and will be able to apply for the owner title. On the other hand, the seller cannot be held liable for damages and defects that appear after the sale.