A bill of sale creates an official record for the purchase or sale of a piece of personal property.
- Purchasing valuable goods
- Selling valuable goods
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.