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When you sell something like that, your bill of sale will include basic information like: Seller name and contact information. Buyer name and contact information. Description of the item(s) you're selling. Price of the item(s) you're selling. Date the sale was made. Space for the buyer and seller to sign.
Virginia does not require a bill of sale to transfer ownership of a vehicle unless the purchase price cannot be listed on the original title. Purchase price documentation is an important step in documenting ownership transfer.
While some car owners consider selling the car for a dollar instead of gifting it, the DMV gift car process is the recommended, not to mention more legitimate, way to go.
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Legally, the Virginia DMV does not require private sellers to have a bill of sale, but most private sellers use one as a best practice. It wouldn't hurt to have such document notarized as well.
The bill of sale should contain identifying information about the buyer and the seller, a description of the vehicle, and the terms of the purchase.
A general bill of sale should include the following information: Purchase price. Date of sale. Buyer's and seller's contact information. Signatures.
If you do not qualify for a ?gift? tax exemption, please provide a proof of purchase price, such as a buyer's order, bill of sale or the seller's declared sale price. The bill of sale can be a handwritten statement signed by the seller and purchaser or a Vehicle Price Certification signed by the seller or purchaser.