The motor vehicle bill of sale is a legal document that is used for private car sales to show who owns the vehicle. You can easily find an auto bill of sale template for free online. There are several reasons in which you can cancel the bill of sale, though you need to have proof of this. The main reason that the bill of sale is canceled is if you do not get a loan for the funds, and then it automatically becomes void.
Step 1 - 3 Days after the Sale
Any bill of sale can be voided three days after the sale if the payment or security does not come through, if the person buying the vehicle files for bankruptcy or any other financial reason in which they cannot pay for the vehicle. This is all detailed in the schedule of property and transaction date.
Step 2- As Is or from a Dealer
Even if a person sells the vehicle "as is," you still can void a bill of sale if there is misrepresentation. You need to file this complaint within a short time. Make sure you know the difference between a description and a claim on the car.
Step 3 - Stolen or Bought by a Minor
If the car turns out to be stolen, then the bill of sale is immediately void. Additionally, if the person that purchased the vehicle is a minor, then the bill of sale can be void for any reason within a specified time period.
Step 4 - The Law
If someone is arguing over this, they can get the law involved. Talk to a lawyer or the Better Business Bureau and see what options you have. There are lemon laws in place to protect the buyers of used cars.