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A motor vehicle bill of sale is a document that details the transfer of a motor vehicle from seller to buyer, functioning similarly to a store receipt but offering more comprehensive information. For buyers, it is often required by state DMVs to complete ownership transfer and can simplify the vehicle registration process by providing essential details. It also allows buyers to verify the vehicle's history through reports and personal inquiries. For sellers, the bill of sale protects against potential issues related to the vehicle's ownership after the sale, ensuring a smooth transaction.