After the end of certain transactions, one is required to give a bill of sale. The reason why people need bill of sales is because the information contained within them are all about how the transaction concluded. This is very important for record keeping purposes.
Most people often confuse sales contract and a bill of sale. The thing that people should know is that a sales contract is made before any transaction is made, while the bill of sale is made after. The point of the bill of sale is to transfer ownership of whatever property is being from the seller over to the buyer. So be sure that there are no errors within any bill of sale you prepare.
Free Business Bill of Sale Form
Business Bill of Sale Form in PDF
Sample Bill of Sale for Business Assets
Blank Business Bill of Sale
What Is a Business Bill of Sale?
In the event that a business person can no longer handle the financial problems or issues contained within the business, that person has the option to sell it. A business bill of sale is what one creates in the event that the person wishes to sell his or her own business to a buyer. So everything from the ownership rights, assets, properties of the business and more are all handed to the buyer once the bill of sale and title transfer have been finalized.
How to Write a Bill of Sale for a Small Business
If one were to write a bill of sale for any business that wishes to be sold, then make sure the following information is provided when writing one up:
- Complete names of both the buyer and the seller
- Date of when the bill of sale was issued
- Amount of money paid by the buyer
- Complete legal name of the business being bought
- Location of where the business is located
- Statements regarding that the property being handed over is free from all encumbrances
You may use any of our printable bill of sale forms in the event that you would like to create your own business bill of sale forms.
Basic Bill of Sale Form
Legal Bill of Sale
Simple Bill of Sale
Business Bill of Sale Guidelines
- There has to be a complete and accurate description of the property that is being sold to the buyer. Everything regarding the property must be price. An example would be providing the color, model, make, and vehicle number of the car being purchased.
- Always make sure that the date of when the bill of sale is correct. This is the most important part that should have no error in the event that are required to show proof of the transaction to a legal authority.
- The bill of sale must be completed at the time of the sale and the agreements must be made between both parties. The moment that the money has been given and the property has been exchanged, then the bill of sale must be issued immediately.
If you would like to know how to utilize and create other types of bill of sales, then you may view our bill of sale form samples, such as our trailer bill of sale forms for transferring ownership of truck trailers, to provide you with the information you need.
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Difference Between a Sales Contract and a Bill of Sale
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