Oklahoma Business Bill of Sale
Oklahoma requires a bill of sale in common situations, such as when the title does not show the purchase price. Fill in the form below and download a free, one-page Oklahoma business bill of sale PDF that includes everything the Service Oklahoma looks for, matching the fields on Form 718. Nothing you type leaves your browser.
Seller
Buyer
Business details
Price and terms
How to sell a business in Oklahoma
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
- Confirm you hold clear title. If a lender is on the title, get the lien release before you list it.
- Agree on the price and fill in the Oklahoma business bill of sale above with the buyer. Record the serial number.
- Sign it. Signing in front of a notary is not always required in Oklahoma, but offices ask for it often enough that it is worth the few dollars.
- Hand over any registration papers, manuals, receipts or health records that go with the business.
- Hand over the business and keep your signed copy of the bill of sale for your records.
Buyer steps
- Check the description against the business itself before you sign.
- Keep the signed bill of sale with your records; it is your proof of ownership and purchase price.
- 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.
Oklahoma at a glance
- Bill of sale
- Required in common cases
- Notary
- Notarization recommended
- Official state form
- Form 718
- Where the buyer registers
- Service Oklahoma (oklahoma.gov/service.html)
Oklahoma's Form 718 is required when the title does not carry the purchase price, and some tag agents ask for notarization.
Other Oklahoma forms
- Oklahoma Vehicle Bill of Sale
- Oklahoma Motorcycle Bill of Sale
- Oklahoma Boat Bill of Sale
- Oklahoma Trailer Bill of Sale
- Oklahoma Firearm Bill of Sale
- Oklahoma Mobile Home Bill of Sale
- Oklahoma RV Bill of Sale
- Oklahoma ATV / UTV Bill of Sale
- Oklahoma Dirt Bike Bill of Sale
- Oklahoma Golf Cart Bill of Sale
- Oklahoma Jet Ski Bill of Sale
- Oklahoma Snowmobile Bill of Sale
- Oklahoma Scooter / Moped Bill of Sale
- Oklahoma Equipment Bill of Sale
- Oklahoma Tractor Bill of Sale
- Oklahoma Horse Bill of Sale
- Oklahoma Dog Bill of Sale
- Oklahoma Livestock Bill of Sale
- Oklahoma General Bill of Sale
Business Bill of Sale in other states
Oklahoma business bill of sale questions
Is a bill of sale required to sell a business in Oklahoma?+
Oklahoma requires a bill of sale in common situations, such as when the title does not show the purchase price. Oklahoma's Form 718 is required when the title does not carry the purchase price, and some tag agents ask for notarization. Oklahoma publishes Form 718 for this; the PDF from this page carries the same information and is accepted alongside it.
Does a Oklahoma business bill of sale need to be notarized?+
Notarization is not always required in Oklahoma, but offices often ask for it, so it is worth doing. The ready-to-sign pack includes a notary acknowledgment page formatted for Oklahoma.
Does the buyer need to file a business bill of sale in Oklahoma?+
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.