Buying or selling assets that are valued over 500$ often require a bill of sale. This is one of those legal documents that mention detailed information of the item / asset that is changing hands along with a list of terms, conditions and guarantees that protects the interests of buyers and sellers alike. At present, there are two types of bills of sale; the absolute bill of sale and conditional bill of sale. Please visit this website for more info about vehicle bill of sale.
These options have their share of similarities and differences which makes them relevant to the sale / purchase of some form of assets while being incompatible with others. To determine which among these is applicable for sale / purchase of vehicle, let’s take a brief look their core inputs...