Bill of Sale

What Is a Bill of Sale? A bill of sale is a written document that serves as evidence of the transfer of ownership of personal property (not real estate) from one party to another. It functions as a receipt for the buyer and a record of the transaction for both parties. Bills of sale are commonly used for vehicle sales, equipment transfers, livestock, boats, and other tangible personal property. ## Essential Information - Full names and addresses of the buyer and seller - Description of the property being sold (make, model, serial number, condition) - Sale price and payment terms - Date and location of the sale - Warranty status (sold as-is or with warranties) - Signatures of both parties ## Legal Significance A bill of sale provides legal proof of ownership transfer, which is important for registering vehicles, resolving ownership disputes, and establishing provenance. Some states require a notarized bill of sale for certain transactions, particularly vehicle sales. While a bill of sale transfers ownership, it does not guarantee that the seller has clear title to the property. Buyers should conduct their own due diligence, and for valuable items, consider obtaining title insurance or a title search.