![]() ![]() Second, we also include links to advertisers’ offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. ![]() First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. The Forbes Advisor template allows you to quickly and easily input the necessary details of your transaction to make a valid document. Including all of these details ensures that the BoS serves as clear proof of purchase and documents the important details of the transaction. The money involved in the transaction and details about certain financial transactions, such as the performance of services or labor in exchange for the vehicle in circumstances where the sale price of the vehicle is relatively low.A complete description of the vehicle or boat including whether there is a lien and who the lienholder is.The name and address of the seller/transferor and the purchaser/transferee.Specifically, the following information should be included on a form: The Tennessee Department of Revenue has a sample form available that shows what information must be included in a BoS when a non-dealer transfer of a motor vehicle or boat occurs. When an item is sold as is, it is important to have documentation of that, so the seller is protected against warranty claims and so the buyer knows they are getting a product without a guarantee.Īn as is form helps to serve as that documentation by showing that there are no promises being made and that the buyer is accepting the item as they see it. If a product is sold without a warranty, then it is sold “as is.” The buyer accepts it as it is in its current condition and has no remedy to pursue against the seller if it turns out there is a defect or problem. A BoS could also accompany other documents, such as a sales contract that goes into more detail about a specific sale that takes place. Other types of transactions, such as the sale of services or the sale of real property, require different kinds of documentation. This type of document should be used only when personal property is sold, like a firearm, vehicle or animal. It serves as proof of purchase or proof of ownership in circumstances where it is important to know who owned a specific asset at a particular period of time. ![]() A Tennessee BoS is a simple document describing property that has changed hands, as well as the transaction that resulted in a new owner. ![]()
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