The document will protect both the buyer and the seller should they come across a conflict during the transaction. In the buying process, the bill of sale is written up by the seller. Typically, bills of sale are used to document the transaction of cars, motorcycles, or boats, but they can also be used to record other proceedings as well. Want to skip ahead to the free template? Click here.Ī bill of sale is a legal document that records the transfer of an asset from one party to another in exchange for money. When products are being exchanged between the two parties, it is safest to have a bill of sale drawn up so this doesn’t happen. However, if a conflict arises, things can get complicated. This isn’t necessarily a bad thing if two people can peacefully exchange money for an asset. When buying something used, however, the seller might lack a defined process. The salesperson tells you a price, you hand over that amount, a signature might be involved - you know the drill.
When buying something new, the establishment from which you are buying that item will lay out the process for you.
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