An Oklahoma bill of sale is a document that provides all the necessary details about the seller and buyer, the transferred item, and the purchase price. The bill of sale additionally outlines the important disclosures that protect the rights and limit the liabilities of the seller and buyer.
The bill of sale is often required when registering cars, vessels, or other motor vehicles. However, even in cases where the bill of sale is not required, parties choose to have one:
Reasons to Use Oklahoma Bill of Sale
As proof of ownership in case there is no certificate of title
To provide additional details not included in the certificate of title
As a way to limit the liability of the seller after the purchase
To document the transaction and the purchase price for tax reasons
Oklahoma Bill of Sale Parties
The main parties to the Oklahoma bill of sale are the seller and buyer. In some cases, the parties provide witnesses who confirm the authenticity of the document and sign it.
A seller is a party to the bill of sale that transfers the ownership of their personal property to the buyer.
A buyer is a party that obtains ownership from the seller and pays the purchase price in exchange.
Buyer And Seller Disclosure
The seller should disclose information about any damages or flaws of the transferred item in the bill of sale. This prevents any future misunderstandings between the seller and the buyer about the item’s condition.
In addition to damages disclosure, the bill of sale should also include the “as is” condition. By signing the bill of sale with this condition included, the buyer agrees to buy the item with all of its damages and flaws. This condition, however, doesn’t protect the buyer from claims about damages that were not disclosed or lied about.
Oklahoma Bill of Sale Description of Goods
The "description of goods" section contains all the relevant information about the transferred item. What information is considered relevant mostly depends on the type of transferred item.
For example, the description of goods for the car bill of sale should include the following:
Make and model of the car
Body type and color
Vehicle identification number (VIN)
Registration number (if available)
Odometer reading and year of production
Description of any damages and flaws
Information about the additional equipment that comes with the car
For other types of items, it should include all the information that will make the transferred item distinguishable from other items of the same kind. In particular, if the item has a serial number, it should also be included in the bill of sale.
Oklahoma Bill of Sale Purchase Price
A purchase price describes the compensation due to the seller of the item. This compensation is usually done in the three ways presented below.
Payment is a method in which the buyer gives the seller a certain amount of money in exchange for the transferred item. The payment can be made in one or multiple installments, or using a check, credit card, or bank transfer.
In this method, the buyer gives one of the items in their possession in exchange for the item in the seller’s possession. If the value of the two items is different, the buyer gives an additional amount of money to cover the difference.
If the item is transferred as a gift, the buyer has no obligation to compensate the seller. Regardless, the parties should enter the estimated value of the transferred item for tax reasons.
Oklahoma Bill of Sale for Motor Vehicles (Cars) Requirements
As of January 1, 2023, Service Oklahoma is in charge of motor vehicle registration. When registering your vehicle, you are required to submit your bill of sale if the purchase price cannot be determined from the title.
If you purchase a vehicle from a state outside of Oklahoma, you should apply for Oklahoma registration and title. You can submit the bill of sale to provide proof of the vehicle purchase price.
Abandoned or Junk Vehicles
Damaged vehicles incapable of operation are declared junk vehicles. Junk vehicles can later be sold for parts using the general bill of sale.
Vehicles Sold by Dealers
If you bought a new vehicle from the dealer, they apply for the Oklahoma title and registration on your behalf. In the meantime, you can use the bill of sale as proof of ownership until you get a vehicle title in your name.
Vehicles Sold by Private Parties
When buying a vehicle from a private party, make sure you include all the details of the purchase in the bill of sale to prevent misunderstandings and protect your rights.
Oklahoma Bill of Sale for Boats (Vessel) Requirements
Any boat or vessel used for transportation in Oklahoma must be registered, titled, and taxed no later than 30 days from the purchase. The application should be submitted to Service Oklahoma or a licensed operator.
If you buy a boat from a state that doesn’t issue a title, you can submit the bill of sale when applying for the registration and title.
Oklahoma Bill of Sale for Firearms Requirements
Most of the firearms in Oklahoma don’t have to be registered. However, parties choose to make a record of their firearm transfer on a bill of sale to protect themselves from liability.
For example, the seller can use the bill of sale to prove the moment a firearm left their possession if it is used illegally.
Oklahoma Bill of Sale for Horses Requirements
The Oklahoma bill of sale for the horse purchase should include the following:
Names, addresses, and ID numbers of the seller and buyer
Name, breed, age, and gender of the horse
Identification number (if applicable)
Description of any flaws of the horse
Details about the additional accessories and equipment sold with the horse
Disclosures of the seller and buyer
Signatures of the seller and buyer
Oklahoma Bill of Sale for Trailers (RVs) Requirements
Non-commercial trailers, including utility, boat, and farm trailers, don’t have to be registered in Oklahoma.
All commercial trailers and RVs must be registered and titled with Service Oklahoma. When applying for registration, you should submit the bill of sale as proof of purchase price.
Oklahoma Bill of Sale Other Requirements
The bill of sale can be drafted in any language. However, when submitting the bill of sale to the Oklahoma government office, attach the official English translation to the bill of sale.
Every party to the bill of sale should have at least one copy for their records. If the item needs to be registered, at least one additional copy should be provided for the title and registration application.
Oklahoma Bill of Sale Taxes
Sales tax is calculated according to the value of the transferred item. Therefore, include the purchase price in your title or the bill of sale.
Additionally, the purchase price should also be disclosed when registering the vehicle to calculate the registration fees.
Yes, as long as it contains all the necessary elements, your handwritten bill of sale will be legitimate and valid in Oklahoma.
Both the seller and the buyer should sign the bill of sale. In addition, one or more witnesses will also sign the lease agreement to confirm the document’s authenticity.
The best way to get your Oklahoma bill of sale for any item you are buying or selling is to download one of the bill of sale templates available on our website.
Both the seller and the buyer benefit from the bill of sale. The bill of sale outlines the main details of the ownership transfer, prevents misunderstandings, and protects the parties' rights.