Discussion
So I’ve noticed on a number of auction sites the following phrase:
“offered on a bill of sale”.
Eg.
https://www.bonhams.com/auctions/20994/lot/122/?ca...
What does this mean? Having read through Wikipedia, from my understanding it means the ownership transfers but the item remains with the previous owner. Am I missing something?
Why would anyone buy a car that they cannot take possession of, especially one with the key selling point being that it is ready to race at high profile events?
Before anyone says that if you don’t know what it means, then you can’t afford it, then you would be right. I’m just asking out of curiosity.
“offered on a bill of sale”.
Eg.
https://www.bonhams.com/auctions/20994/lot/122/?ca...
What does this mean? Having read through Wikipedia, from my understanding it means the ownership transfers but the item remains with the previous owner. Am I missing something?
Why would anyone buy a car that they cannot take possession of, especially one with the key selling point being that it is ready to race at high profile events?
Before anyone says that if you don’t know what it means, then you can’t afford it, then you would be right. I’m just asking out of curiosity.
NGee said:
BertBert said:
It's American terminology. Nothing to do with the UK
Correct, but that wasn't the question 
The term Bill of Sale is of English legal origin, although it is not used much in England these days.
A Bill of Sale might be no more than a document recording a sale of an item, but it can also be used to create a security interest , in which A owns an item but B possesses it.
PorkInsider said:
I thought it referred to the 'sold as seen' aspect - i.e. sold with no warranty of any sort.
It's not that - please see above. The term has variant usages, and has contextually different meanings on the two sides of the Atlantic.In any event, an attempt so to sell by a trader in England would be ineffective. The situation in California might be different.
The no registration document point is significant in the US because there cars have ownership documents. In the UK, cars have no ownership documents. V5s are often misunderstood to be such documents, despite every V5 announcing on its face that it is no such thing.
Breadvan72 said:
Incorrect.
The term Bill of Sale is of English legal origin, although it is not used much in England these days.
A Bill of Sale might be no more than a document recording a sale of an item, but it can also be used to create a security interest , in which A owns an item but B possesses it.
Ah yes, I was thinking more that it has a specific use in selling cars in the US and not used the same here. But failed to express that very well, or even at all well!The term Bill of Sale is of English legal origin, although it is not used much in England these days.
A Bill of Sale might be no more than a document recording a sale of an item, but it can also be used to create a security interest , in which A owns an item but B possesses it.
Breadvan72 said:
Incorrect.
The term Bill of Sale is of English legal origin, although it is not used much in England these days.
A Bill of Sale might be no more than a document recording a sale of an item, but it can also be used to create a security interest , in which A owns an item but B possesses it.
A Bill of Sale is commonly used for transferring ownership of boats in the UK, albeit not necessarily declaring the price paid.The term Bill of Sale is of English legal origin, although it is not used much in England these days.
A Bill of Sale might be no more than a document recording a sale of an item, but it can also be used to create a security interest , in which A owns an item but B possesses it.
''£1 and other considerations ...'' is quite often seen on a BoS.
For those not engaged in Superyacht tax shenanigans, here's one that the RYA prepared earlier...
https://www.rya.org.uk/sitecollectiondocuments/leg...
https://www.rya.org.uk/sitecollectiondocuments/leg...
Breadvan72 said:
PS: Every day must involve some learning, and I have today learned that the sale of as UK registered vessel is not complete until a Bill of Sale has been recorded with the Registry of Shipping.
Today's other learning is that the Merchant Shipping Act 1995 has a section called discharge of seamen.
GiggertyToday's other learning is that the Merchant Shipping Act 1995 has a section called discharge of seamen.
Vickers_VC10 said:
Breadvan72 said:
PS: Every day must involve some learning, and I have today learned that the sale of as UK registered vessel is not complete until a Bill of Sale has been recorded with the Registry of Shipping.
Today's other learning is that the Merchant Shipping Act 1995 has a section called discharge of seamen.
GiggertyToday's other learning is that the Merchant Shipping Act 1995 has a section called discharge of seamen.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Breadvan72 said:
The no registration document point is significant in the US because there cars have ownership documents.
“She's got a competition clutch with the four on the floor,And she purrs like a kitten 'til the Lake pipes roar.
And if that ain't enough to make you flip your lid,
There's one more thing: I got the pink slip, daddy!”
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