Bill of Sale: A Transfer of Ownership

What is a Bill of Sale?

A bill of sale is a legal document that serves as a written record of the sale and transfer of ownership of an item from one party to another. It resembles a retail receipt, but it carries more weight as it solidifies the legal change of ownership.

Functions of a Bill of Sale

The primary purpose of a bill of sale is to provide evidence of a legitimate transaction between a buyer and a seller. It outlines the details of the exchange, including the item(s) sold, the purchase price, and the date of the sale. This document serves as a safeguard for both parties, protecting them in case of disputes or legal challenges.