What is a bill of sale used for in real estate
A bill of sale is used in real estate to transfer property from one party to another. The bill of sale includes the ownership of personal property in exchange of certain amount of money. It confirms the money has been tendered on a certain date and it acts as a proof of ownership. You must go through a sample bill of sale, to get an idea how it looks like. Remember, it doesn’t transfer the confirmation of ownership for a property by the buyer. It only accompanies with the document that do deed. Although the document doesn’t carry the same power of deed, it carries legal weight that ownership of the property has been transferred and the bill of sale is issued only when the amount of money has been paid on time required by the seller.
Writing bill of sale
Searching through online you will find a sample bill of sale, to get an idea how to write it. The real estate bill of sale remains specific ,short and simple. The bill of sale should contain the information of the seller, payee name, addresses, signature of both parties with witnesses. The bill of sale document would properly define the location of the property, the description about the property and it should contain precise language saying the property will be transferred to payee after receiving the receipt of payment. The sample bill of sale varies in different countries. You must check it through online, before you start writing. All transfers of ownership should be in written form and not through verbal agreement.