What is a Bill of Sale?
A bill of sale evidences the sale and/or transfer of an asset. The bill of sale in its simplest form records the transfer of ownership from one individual or entity to another. A bill of sale records the transaction for future persons who may want to claim ownership of the property. Since a bill of sale is notarized, it has the ability to be publicly recorded to give these future people the ability to view the transaction and have noticed a sale regarding the particular assets took place.
It can be used for almost any item, whether it be real property (e.g., land) or personal property (e.g., car). Therefore, if you are ever selling or exchanging goods of significant value or amount, it is best to obtain a bill of sale to solidify the transaction.
Benefits of a Bill of Sale
- Documents the sale to avoid ambiguity as to what was purchased.
- If drafted correctly, can be recorded to give notice to all of the sale.
- Can potentially be used during litigation regarding proof of the transaction.
How long does it take to have a custom Bill of Sale?
Approximately 1-2 business days*
*Depending on Specifications
Why our firm to make your custom Bill of Sale?
At SG Law Group, we can tailor a bill of sale to fit your needs and is properly drafted to protect the buyer and seller.
Hire an affordable, professional Attorney to help ensure your Business Closing goes Right!