A livestock bill of sale is a business document that is used when buying or selling livestock. The document contains vital information about the transaction, such as the price, information about the buyer and seller, details about the animal, vet clearance, etc. when all these details are put into writing, you’re sure your investment is safe whether you’re the buyer or seller. Remember, you’ll also require the livestock bill of sale as proof of ownership in cases of taxation and legal matters. This bill of sale is also commonly referred to as the animal bill of sale.
When purchasing or selling animals, note it’s illegal to conduct the transaction without issuing a bill of sale. After purchasing animals either from an auction market or privately get a bill of sale for the purchase and keep it safely since inspectors may want you to prove ownership of the animals. If the buyer needs a vet to inspect the animals for any diseases, they’ll be required to pay a deposit that will be recovered during the final transaction. Animals that can be sold using the livestock bill of sale
Once both parties in the transaction have agreed on all the details of the purchase, the seller should draft an animal bill of sale that they will issue to the buyer after concluding the transaction. They should also keep a copy of this document; they may require it later should any disputes occur. The following are some animals that can be sold using the livestock bill of sale:
Importance of the livestock bill of sale
It is used to prove ownership
Acts as a reference in case of disputes in future
Can be used for court cases and litigation
Used for taxation purposes
Bill of Sale Form
What to Include in the livestock Bill of Sale
The animal bill of sale should include the following details:
- Name of the buyer
- Address of the buyer
- Name of the seller
- Address of the seller
- Date of the transaction
- Agreed price
- Details about the animal such as condition, color, weight, vaccinations, breed, brand, health, number, etc.
- Deposit(if needed)
- Inspection period
- Printed names &addresses of the buyer, seller, and witnesses
When buying or selling livestock, ensure you get a bill of sale to cushion you from future disputes besides acting as a proof of ownership.