Examples of property include a motor vehicle (such as a car) or other personal property, but not real estate. You own property you would like to sell and need to have a record of the purchase detail for accounting records. You should use a bill of sale for the following circumstances: Since a bill of sale will include details about the condition of the item sold and any warranties, as well as terms of payment, this document acts as legal proof of the agreement. A bill of sale should include all details of the transaction as a way to protect both parties if a disagreement about the condition of the item or terms of the sale occurs. This legal document records a transfer of ownership of an asset from one party to another. As a rule, the seller will draft the document.

A bill of sale is also useful for transfer of other personal property such as a bicycle, furniture, a laptop, or an animal such as a horse or other livestock. You can also use a bill of sale to record the transfer of personal property, such as purchasing or selling a used car. You'll typically see a bill of sale used to record the sale of automobiles, motorcycles, watercrafts, or other objects associated with transportation. This type of document serves as legal evidence that the seller transferred his or her rights to the assets described in the bill of sale.Ī bill of sale must include key information such as the following: This document becomes important when you need to buy or sell personal property. You may associate bills of sale with used vehicles, but you can use this document for a variety of items.Ī bill of sale will detail a transfer of property or sale of items between a seller and buyer. A bill of sale, proof of purchase, proof of payment, As Is Bill of Sale, Proof of Sale, Sales Slip, or Sales Receipt, is a document or receipt used to transfer the ownership of an object such as a vehicle.

Free printable bill of sale template ny