Skip to content
Saleslip
Ready-to-sign pack

Iowa Business Bill of Sale

Iowa requires a bill of sale for private sales. Fill in the form below and download a free, one-page Iowa business bill of sale PDF that includes everything the Iowa Department of Transportation looks for. Nothing you type leaves your browser.

Iowa
Business Bill of Sale

Seller

Buyer

Business details

Price and terms

How to sell a business in Iowa

A business bill of sale transfers the tangible and intangible assets of a small business, such as equipment, inventory, furniture, the trade name, customer list and goodwill, from the seller to the buyer at closing. It is the document that goes with the purchase agreement and is what the buyer shows to banks, landlords and the state when the business changes hands.

Seller steps

  1. Confirm you hold clear title. If a lender is on the title, get the lien release before you list it.
  2. Agree on the price and fill in the Iowa business bill of sale above with the buyer. Record the serial number.
  3. Both parties sign and each keeps a copy. Iowa does not require a notary.
  4. Hand over any registration papers, manuals, receipts or health records that go with the business.
  5. Hand over the business and keep your signed copy of the bill of sale for your records.

Buyer steps

  1. Check the description against the business itself before you sign.
  2. Keep the signed bill of sale with your records; it is your proof of ownership and purchase price.
  3. If you bought it for a business, give the bill of sale to your bookkeeper for the asset record.

Before you sign

  • Attach an inventory and equipment list as a schedule for anything beyond a one-line description.
  • Say clearly whether the buyer assumes any debts, leases or contracts.
  • Both parties sign in their capacity (owner, member, president) if an entity is involved.
  • This is the bill of sale, not the purchase agreement. For a sale above a few thousand dollars, have a lawyer draft the purchase agreement and use this as the closing document.

Why a bill of sale matters for a business

  • Transfers the assets at closing in one signed document.
  • Lists exactly what is and is not included, which prevents post-sale fights.
  • Needed to transfer the DBA, licenses, lease and utility accounts.
  • Supports the buyer's asset basis for taxes and the seller's gain calculation.

Want both parties to walk away with a signed copy and a notary page ready? The $9 ready-to-sign pack adds them.

Iowa at a glance

Bill of sale
Required for private sales
Notary
Notarization optional
Official state form
None published; any signed bill of sale is accepted
Where the buyer registers
Iowa Department of Transportation (iowadot.gov/mvd)
Buyer's deadline to title
30 days from the sale
License plates
Stay with seller

Iowa requires a bill of sale for a private sale unless the county's newer title certificate includes a Transfer/Sale Date section that serves as one; without a bill of sale the county treasurer values the vehicle from a price guide. The title must be delivered at the time of sale and transferred by the buyer within 30 days. Plates stay with the seller.

Checked October 2026 against the state's own guidance. Rules change; confirm before you file.

Other Iowa forms

Business Bill of Sale in other states

All states →

Iowa business bill of sale questions

Is a bill of sale required to sell a business in Iowa?+

Iowa requires a bill of sale for private sales. Iowa requires a bill of sale for a private sale unless the county's newer title certificate includes a Transfer/Sale Date section that serves as one; without a bill of sale the county treasurer values the vehicle from a price guide. The title must be delivered at the time of sale and transferred by the buyer within 30 days. Plates stay with the seller. Iowa has no mandatory form, so any complete, signed bill of sale like the one generated here is accepted.

Does a Iowa business bill of sale need to be notarized?+

Iowa does not require notarization. Two signatures are enough. If you want extra certainty, the ready-to-sign pack includes a notary acknowledgment page you can use anyway.

Does the buyer need to file a business bill of sale in Iowa?+

No. Businesses are not titled or registered with the state, so there is nothing to file. The signed bill of sale is the ownership record; each party keeps a copy.

Is a business bill of sale the same as a purchase agreement?+

No. The purchase agreement sets the deal: price, terms, representations, non-compete. The bill of sale is the closing document that actually transfers the assets. Small deals sometimes use the bill of sale alone; larger ones should have both.

Does it transfer the LLC or corporation?+

No. This transfers assets. Selling the entity itself is a membership-interest or stock sale and needs different documents. Most small-business sales are asset sales.

Do I need to notify the state?+

Usually the DBA (assumed name) and any licenses or permits have to be reassigned or re-filed, and some states have bulk-sale notice rules. Check with the secretary of state and your accountant.