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A horse bill of sale is a formal document that outlines the purchase of a horse between a buyer and a seller, including the sale price and essential details, along with the signatures of both parties. Once completed, it officially records the transfer of ownership. This video covers critical information about horse bill of sale forms and where to find a free template. Additionally, it emphasizes best practices when buying a horse, highlighting the importance of understanding the responsibilities of ownership. Key steps include finding a suitable seller, setting a budget that considers ongoing expenses, handling the horse for evaluation, and negotiating the purchase.