Bill of sale
A bill of sale is a legally recognized document that records the terms of an agreement between two parties. There are two different types : absolute or conditional. The type is based on what’s agreed to. A bill of sale is commonly used when transferring title over property from one person to another.
Frequently Asked Questions
What is a bill of sale used for in real estate?
A bill of sale is a way for two people to agree on the transfer of property from a seller to a buyer. A conditional form makes it so that if there are any conditions not met, then ownership does not pass over and they have to rewrite their agreement with those terms in mind. An absolute bill of sale means that everything is predetermined and agreed upon before signing off. No surprises!
Is a bill of sale the same as a title?
The title of a property is held by the legal owner. A bill of sale is only a record that a sales transaction occurred between two parties.
Can Bill of Sale be handwritten?
There are many Bill of sale forms available online, but it can be handwritten. You just have to make sure it includes all the information needed.
