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A horse bill of sale is a document that formalizes the purchase of a horse, detailing the purchase price, relevant sale information, and signatures from both the buyer and seller. This document serves to officially transfer ownership. The video tutorial covers essential aspects of horse Bill of Sale forms and provides guidance on obtaining a free official template. It also emphasizes best practices for buying a horse, outlining necessary steps regardless of an owner's experience level. Key recommendations include finding a suitable seller, setting a budget that considers ongoing costs, and personally testing the horse before making a purchase decision.