Bill of Sale

Definition

The document with which ownership of personal property is transferred.

See Also

Purchase agreement, closing.

Tips

A bill of sale is a legal document drawn up by a seller that is passed on to a purchaser to report and confirm that, on a specific date, at a specific locality and for a particular sum of money or other "value received,' the seller sold a specific item of personal property or a parcel of real property to the purchaser, of which the seller had lawful possession.