A bill of sale is an officially authorized document created and issued by a ‘seller’ to the buyer, stating that the seller sold a specifically mentioned item or property to the purchaser of which he had lawful ownership. It also explicitly states the specific date and place, along with the particular sum of money. It is a written statement which gives a concrete proof of the transfer of title to personal property from the dealer to the buyer. It acts as a legal evidence of the transaction.
A bill of sale may be created on any format that is legally correct, and shows all the necessary details required. It may either be very simple, or quite complex, depending on the retailer who has to issue the statement, and also on the type of transaction that takes place. Essentially, a bill of sale details the specific goods that have been sold to the buyer and the specific price that was agreed to and paid for each.
In cases where you are buying or selling property, or items worth considerable amount of money, it is advisable to make sure that the bill of sale document is completed properly, and with all the necessary fields filled out, before closing the transaction.
For better result, you can use a bill of sale template instead of creating your own document from scratch. Here is our free template that you can use for your own purpose. It is a general form which can easily be adapted for many different types of goods or equipment. The bill of sale template featured on this page is ideally used at the time when the goods and full payment is completed.
Here is the preview of this Free Bill of Sale Template,