Confidently handle the purchase or sale of a Michigan business. Understand key tax considerations and how to address specialized concerns like intellectual property and immigration issues. Includes multiple forms and checklists.

With this book, you will:

• Successfully pursue due diligence with a detailed checklist
• Handle “deal-killer” issues, such as environmental concerns or employee benefit and retirement plans
• Get comprehensive annotated asset and stock/membership purchase agreements that discuss provisions you should consider including
• Know the special considerations for purchasing a financially distressed business

Michigan bills of sale are forms used to document the sale of vehicles, boats, firearms, or other personal items in the state of Michigan. While bills of sale are not legally required for proof of purchase in Michigan, it’s still highly recommended you create one when selling high value items (such as a car) to protect yourself in the event of a legal dispute. In some cases, your Michigan bill of sale will need to be notarized before it is signed by the buyer and seller and made official.

1. Michigan Bill of Sale Requirements

In Michigan, vehicle and vessel registrations are processed by the Secretary of State (SOS) office, and they do not legally require registrants to submit a bill of sale. However, it is always a good idea for the seller to provide the buyer with a bill of sale, since it can be used as a record of the purchase transaction, and it is good to have such information in your personal records.

2. Michigan Vehicle Bill of Sale

Vehicle bills of sale in Michigan do not require notarization. However, whether your document is hand-drafted or pre-printed, it should contain the following criteria:

• The names, contact information, and signatures of the buyer and the seller
• Warranty information (if applicable)
• The vehicle identification number or VIN
• The make, model, and year
• The purchase price
• The sale date
• Lien information (if applicable)
• The county where the transaction took place

Additional Considerations

Language Requirements

SOS documents, including bills of sale, are not prepared in multiple languages, though extensive interpreter services are available for all those that need them in order to complete the registration and titling processes.

Number of Copies

You may make a copy of your bill of sale for each party, though it is not necessary to file the original with the state (unless it is replacing the registration or title of a vessel).

After Purchasing a Vehicle

In addition to drafting and signing your bill of sale, there are many other documents to complete and submit in order to register a vehicle in Michigan.