Oregon Bill of Sale
Oregon does not require a bill of sale when a car is privately purchased, but drafting one is a smart move.
Written by Michelle Ballestrasse
Reviewed by Carrie Adkins
Oregon
does not require a bill of sale as part of the process of privately purchasing a vehicle or transferring the title. But drafting one yourself can prevent any discrepancies or disputes in the process.It may be worth having a bill of sale for your records, as it contains important information about the sale that can be useful if any issues arise.
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What is a bill of sale?
A bill of sale is very similar to a receipt. It’s typically only given during a vehicle sale that is privately transacted between two individuals and not through a dealership. Like a receipt, a bill of sale contains the purchase price of the vehicle and the date of the transaction.
It should also have key information about the vehicle, like the license plate number and odometer reading, and the signatures and identifying information of all parties involved in the transaction. That’s because the bill of sale documents the agreement terms that the buyer and the seller reached when conducting a private transaction.
As far as transferring ownership of the vehicle goes, however, the bill of sale does not play a role. It doesn’t grant legal ownership of the car to the buyer. They must complete the transfer process first. This involves completing and submitting a title transfer at the very least, along with whatever paperwork is required as stipulated through your state’s DMV.
Is a bill of sale required in Oregon?
Oregon does not require a bill of sale in order to conduct a private vehicle sale. However, as a record of a transaction, it’s still a good idea to have a copy for your records, should any issues arise in the future.
A bill of sale serves as documented proof that both the buyer and seller agreed to the terms necessary to complete the sale. So if there are any disputes down the line about the transaction, you’ll have evidence on hand that all the terms were met.
Drafting a bill of sale doesn’t take much time or effort and is highly recommended. Be sure that, whether you’re the buyer or the seller, you keep a copy of the bill of sale for your records.
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What is required in an Oregon bill of sale?
Although Oregon does not require a bill of sale in private vehicle transactions, the official state website offers
a form
that you can use. This form includes the following:- Printed names and addresses of both the buyer and seller
- Date of purchase
- Vehicle make, title number, and year
- License plate number
- Vehicle Identification Number (VIN)
If you decide to draft your own bill of sale, be sure to include the above information. It’s also recommended that you include the current odometer reading and that you verify all information yourself instead of relying on the seller’s word. Both parties should also sign the bill.
What should I do after I get a bill of sale?
The bill of sale does not automatically grant you ownership of the vehicle. So before you take the keys from the seller, be sure to finalize all the required documents for the title transfer. This includes the title, which the seller must sign over to you, a Statement of Lien Satisfaction (if needed), and an odometer disclosure.
Check the DMV website for what identifying documents and forms you’ll need to bring with you to complete the title transfer process.
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