Don't walk away from a sale of your personal possessions without having a Bill of Sale in your hands.
Bills of Sale legally document the exchange of personal property from one person or company to another for money. They represent a contract between a buyer and a seller that evidences the sale of any type of property - whether it's a vehicle, a business, a piece of furniture or even an animal - except real estate. Let's say you want to sell an appliance, a watch, or furniture. Once you and the buyer agree on terms, you would both sign a Bill of Sale. This legal document would serve as evidence that you sold it and your record of the price and the terms of the sale.
If you're selling any kind of personal property, it's always a good idea to document it. LegalACE can help you legally document a sale quickly and affordably.
I absolutely loved working with LegalACE to establish my LLC.
The entire process was very easy
to follow and far more user
friendly than some of the other
sites I looked into.
You are not required to have a bill of sale to sell something, however, it is generally a good idea. This is especially helpful when a sale involves any large or expensive items, or if you have reason to believe there may be a dispute about the sale at a later date. Having a sale in writing goes a long way toward proving the terms of the sale should you have to appear in court.