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A horse bill of sale is a document that formalizes the purchase of a horse, marking the transfer of ownership between the buyer and seller. It includes the purchase price, relevant details about the sale, and the signatures of both parties. This video tutorial discusses essential information about horse bill of sale forms and provides guidance on obtaining a free template. Before creating the bill of sale, the video emphasizes the importance of following best practices when buying a horse. Responsibilities include locating a suitable seller, determining a budget that covers care and space, testing the horse to assess its suitability, and negotiating the terms of the sale.