The bill of sale authenticates that you have sold the property to another individual and aren't responsible for the dues. A bill of sale acts as authentication of just that and protects you from unnecessary future litigation.įor instance, without a bill of sale, all parking tickets incurred on your sold vehicle will come in your name and not in the name of the new owner. Once you sell an asset, including an automobile, a house, or even personal property, you no longer hold liability for it. Some of the benefits of drafting a bill of sale include: Legal ProtectionĪ signed copy of a bill of sale can help give you legal protection from complications after the asset's sale. Bill of sale word templates can help make the process easier. Benefits of Drafting a Bill of Saleīuying or selling property or a vehicle can be a major investment, which is why you must record the sale through a bill of sale.
The bill of sale word template is necessary for closing sales deals and here we have several free bill of sale word templates.
The bill of sale isn't restricted to certain cases and can even cover scenarios such as the sale and purchase of a personal property.
The bill of sale or transfer document could be prepared for the sale of an aircraft, a used car, or even a house. A bill of sale is a sales receipt or a contractual document when an individual sells an item of high value.
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