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Bill of Sale



A bill of sale creates an official record for the purchase or sale of a piece of personal property.

When you purchase an item for sale at a store, dealership or online retailer, you receive a receipt that details the circumstances of your purchase. However, not all sales are made through corporate means. Many sales of valuable property take place between individuals or at alternative venues like swap meets, rummage sales and trade shows. When a purchase takes place outside of a traditional business transaction, you can use a bill of sale form to record the details of the transaction and provide proof of transfer of ownership.

Uses

  • Purchasing valuable goods
  • Selling valuable goods

Overview

Whenever you buy or sell something, it’s always a good idea to get legal documentation of the exchange. A bill of sale is a document that legally transfers ownership of goods from one person or business to another. Bills of sale are very common legal documents that are used in many different transactions involving the exchange of goods.

A bill of sale is typically used to transfer property where the original owner retains possession of the goods for some time. Because the buyer did not walk off with the property after paying for it, he or she needs some other way to prove their legal claim. As a result, it is often a good idea to execute a bill of sale for goods purchased on lay away or as part of some more complex exchange. In the event that there is a future dispute about the legal ownership of your property, a bill of sale may help you prove your rights in court. In some cases, a bill of sale is required by law. For example, most jurisdictions require a bill of sale to record the transfer of an automobile from one person to another. However, even in situations where a bill of sale is not required for the legal transfer of personal property, it is best practice to use these documents for your personal records. Use this interactive form to create a bill of sale that will protect you when buying or selling goods.

If you are seeking to sell or purchase property, other than real estate, and you would like to ensure that there is proper proof of the terms and related details of the transaction, you can use this customizable bill of sale form to accomplish that goal. As you will need access to personal information related to both the buyer and the seller, it is important to wait to fill out this form until the details of the transaction in question are set. You may want to confirm the following before attempting to complete this form: date of purchase, description of the item (including important identifying information), price associated with the transfer of ownership, method of payment used to complete the transaction, contact information of both the buyer and the seller and any relevant warranty information.

A bill of sale functions primarily as a receipt, so take care to file away a copy of this document in a safe place. That way, if you ever need to reference it again for tax purposes, legal purposes, recordkeeping or simply to refresh your memory, you will have easy access to the details of the completed sale.

Alternative Names

Automobile Bill of Sale
Boat Bill of Sale
Motorcycle Bill of Sale
Livestock Bill of Sale
Property Bill of Sale
Watercraft Bill of Sale
Aircraft Bill of Sale
Animal Bill of Sale
Furniture Bill of Sale
Equipment Bill of Sale
Firearm Bill of Sale