And you need to provide a copy of the signed bill of sale in order to do so.Īdditionally, a signed bill of sale gives the new owner the authority to assert their legal ownership of the car. To begin with, when you purchase a used car in Ontario, you must register it within six days of the transaction. When purchasing or selling a vehicle, boat, motorcycle, trailer, or any valuable personal property, having a bill of sale is essential. What Do You Need a Bill of Sale For in Ontario?Ī bill of sale is required for various purposes in Ontario. In order to establish a secure transfer of ownership and honour the interests of both purchasers and vendors in Ontario, a bill of sale acts as vital evidence.Ĭonsisting of explicit terms and conditions of the sale, the predetermined price, and any affirmations made by the vendor, it serves to resolve potential clashes and ensure an uninterrupted transfer of ownership. In the event of a dispute, the bill of sale can be used as evidence by having a readily available record of the terms of the sale. Having a bill of sale offers transaction protection and clarity. The transfer of ownership from one party to another is documented in a legally binding document called the bill of sale.Įssential details, including seller and buyer names and signatures, purchase price, date of sale, and item description, are included.
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