Are you looking for Free New Mexico ATV, Dirt Bike and UTV Bill of Sale Template? ATV, UTV or Dirt Bike is loved by a number of people. They often wish to sell and buy the ATV, UTV or Dirt Bikes so that they can use it as and when required without actually buying the expensive vehicle. Whether you are purchasing or selling your ATV, UTV or Dirt Bike in New Mexico, you will need the ATV, UTV or Dirt Bike Bill of Sale to document transfer of ownership of ATV, UTV or Dirt Bike to the purchaser from the seller. While an ATV, UTV or Dirt Bike Bill of Sale can be easily looked for online, in case you are unable to find the relevant one, you can draft it on your own.
ATV, UTV or Dirt Bike Bill of Sale is a document, which verifies that the seller has sold the ATV, UTV or Dirt Bike and is no longer its owner. The bill contains basic information about the vehicle as well as parties involved in the sale. Depending on which state you live in, you may buy the ATV, UTV or Dirt Bike without the bill. However, doing so is highly recommended, as you will have a proof that you the owner of the vehicle. Additionally, the details on this bill will avoid misunderstanding between the seller and the buyer. If you are unable to find the bill of sale for your ATV, UTV or Dirt Bike, you can even draft it on your own.
Importance of New Mexico ATV, UTV or Dirt Bike Bill of Sale
- As per the laws, a state may ask for registration for the ATV, UTV or Dirt Bike with the local IFW or DNR office. For registration, proper documents to prove ownership are necessary, and if you do not have the bill of sale, you cannot get it registered. This is why getting the bill of sale is necessary so that you are able to register the ATV, UTV or Dirt Bike you just bought with your state’s local IFW or DNR office.
- The price of the ATV, UTV or Dirt Bike can be high. So, if you are buying or selling this vehicle, having a proof if the deal is important. Someone else may claim against the ownership of ATV, UTV or Dirt Bike that you bought or someone may get injured if by the ATV, UTV or Dirt Bike you recently sold. Without a bill of sale, you may be held responsible. In short, an ATV, UTV or Dirt Bike bill of sale would protect you from the future liabilities and let you register the vehicle.
The bill of sale of ATV, UTV or Dirt Bike functions as contract between seller and buyer of the ATV, UTV or Dirt Bike. All the states do not have same rules for what they accept as valid bill of sale of the ATV, UTV or Dirt Bike. However, the contract must have these things â€“
- Signature and date â€“ ATV, UTV or Dirt Bike bill of sale is valid only when it is signed by the two parties involved and has a transaction date.
- Amount â€“ The total money that will be exchanged. This figure is generally written in either alphabetic or numeric form.
- Offer â€“ The agreement to purchase and sell the ATV, UTV or Dirt Bike for an agreed-upon amount of money and the terms as well as conditions of this exchange, if any.
- Legal intent â€“ The two parties involved in ATV, UTV or Dirt Bike’s exchange must be competent, which means will, mental capacity, as well as age of the purchaser and the seller, need to meet legal requirements. Also, the contract valid only when it is lawful.
What Should Your New Mexico ATV, UTV or Dirt Bike Bill of Sale Have?
A bill of sale is critical as it is the legal proof of ownership of a vehicle. You can create the bill on your own while keeping simple things in mind. The procedure for the same is fairly easy and with these things clearly stated, there is nothing else that you have to cover.
- Location of sale
- The date of sale
- Purchase price â€“ This needs to be stated in the first blank. You should also include complete information regarding the price, such as down payments made until now.
- The description of ATV, UTV or Dirt Bike like â€“
- Current mileage
- Odometer reading
- Year, make, model
- Vehicle identification number
- Motorcycle engine no., which is a 10 digit number and letters mentioned at the bottom park of engine usually.
- Warranty: The bill should state whether the ATV, UTV or Dirt Bike is covered under a warranty period or being sold as in. As is means that the seller does not promise anything about the vehicle’s condition after it is sold. So, even if the ATV, UTV or Dirt Bike breaks down just after purchase, the buyer has to bear it. On the other hand, if there is limited warranty, then the seller should spell out what damage is included in the warranty, and which parts are covered in the warranty period.
- The full name, signatures, and addresses of two parties â€“ ATV, UTV or Dirt Bike bill of sale must have the residential address details and the names of the seller and buyer. It should also have signatures to depict that both the parties agree to the transaction. Lastly, the individual whose name is mentioned on the title of ATV, UTV or Dirt Bike is allowed to sell it legally.
The two parties, after filling the form, must possess a copy of ATV, UTV or Dirt Bike bill of sale. However, the original copy needs to remain with the buyer.
What Should You Know While Selling the ATV, UTV or Dirt Bike in New Mexico?
- You should make sure that the details of address and name of buyer are correct. This is necessary so that in a query arises, you may know whom to contact.
- If the buyer opts for making down payment and then pays remaining amount over time, do not use the enclosed bill of sale. The document assumes that buying price of the ATV, UTV or Dirt Bike will be paid completely during the selling event. You can draft promissory note and sign that note and utilize bill of sale, which provides for deferred payment.
- You should give the buyer complete ATV, UTV or Dirt Bike bill of sale once you have been paid and the transaction is complete. ATV, UTV or Dirt Bike bill of sale reveals if you have received the payment. Without this information, you can find it challenging to receive the complete payment.
- After bill is signed, visit tax office or a local county clerk for recording this document. This document will then be registered for being used to assess applicable sales taxes.
- Also, you can geta third party along with you at the time of signing of bill. This way, that party can play the role of reporter of the transaction whenever required.
- If you are selling your ATV, UTV or Dirt Bike, once its sold, get in touch with the local IFW or DNR office soon and inform that the ATV, UTV or Dirt Bike has been sold and no longer belongs to you. You will be protected in case the ATV, UTV or Dirt Bike you sold is involved in any accident until its re-titling.
- Sign two copies of ATV, UTV or Dirt Bike bill of sale, one for other party and the other one for you.
- You must remove the license plate of your ATV, UTV or Dirt Bike before it is physically transported to the buyer. In a number of states, doing so is compulsory by the law.
What Should I Do with the ATV, UTV or Dirt Bike Bill of Sale As a Buyer/Seller
As the seller, you must have a copy of this bill with you and offer the original document to the buyer. This will ensure that if anyone is injured or some property is destroyed by your ATV, UTV or Dirt Bike, you possess the proof that it does not belong to you.
In case you are ATV, UTV or Dirt Bike’s buyer and have recently purchased ATV, UTV or Dirt Bike, the first thing to do should be putting the original copy of ATV, UTV or Dirt Bike bill of sale in safe place. Doing so is crucial because, without the bill, you cannot claim for registration of ATV, UTV or Dirt Bike. If you do not have the copy of the bill, you cannot prove that ATV, UTV or Dirt Bike is now your property in case someone else claims that the ATV, UTV or Dirt Bike belongs to them. In addition, you may even face issues in case you choose to sell ATV, UTV or Dirt Bike. In order to place the document safe, you may choose to generate its digital copy and put the bill of sale of your newly purchased ATV, UTV or Dirt Bike in a secured place.
New Mexico ATV Bill of Sale
New Mexico Dirt Bike Bill of Sale
New Mexico UTV Bill of Sale
The Bottom Line
ATV, UTV or Dirt Bike is an interesting vehicle and is mostly bought by people due to the adrenaline rush it offers. However, it is expensive and usually out of the price range of many individuals. So, they involve in the buying and selling of this vehicle. However, without proper steps and procedures to exchange the vehicle for money, they may end up suffering.
For example, the seller may be held responsible for an injury or damage caused by the ATV, UTV or Dirt Bike they have already sold. Or, the buyer may not be able to prove that they own the ATV, UTV or Dirt Bike as and when needed in the absence of ATV, UTV or Dirt Bike bill of use.
This is why producing a bill of sale is necessary. Also, the new owner can only obtain the ownership of the ATV, UTV or Dirt Bike once the bill of sale is produced to local IFW or DNR office. One can also use the online registration portal for the same. The entire procedure is not at all complex and includes station correct and right information of both the parties involved. However, because the bill is so crucial, one should follow every step properly.