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A bill of sale may or may not be required for vehicle sales, depending on the state or country. It serves to protect both seller and buyer, potentially reducing fraud, settling disputes, and facilitating transactions by offering proof of purchase. However, it does not prove ownership of the vehicle. A typical bill of sale includes the transaction date, names and addresses of the buyer and seller, a description of the vehicle, and the Vehicle Identification Number (VIN). Some states may require the bill to be notarized or submitted to authorities.