General Bill of Sale Form

A General Bill of Sale is a form that authorizes the transaction of personal property between two individuals. In order for the document to be legally binding, it must be signed by the current owner. By signing, the seller is confirming that they are giving ownership to the buyer (who is then liable for the item). Both parties should keep a copy of the bill of sale. The buyer can use it as proof of purchase, especially if they choose to sell the item again. The seller, on the other hand, may need the document to show that they no longer own the piece of property.

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When to Use a General Form

During the transfer of any item from one person to another, this document acts as a receipt. In comparison to other types of bill of sale forms, a general one differs as it is used for all types of property. Below are a few examples of items that could be listed for sale using this template.

  • Valuable or rare goods
  • Toys
  • Games or devices
  • Jewelry

What to Include in Bill of Sale

When filling out the bill of sale complete all of the fields. Begin by including the names and contact information of the buyer and seller. Next, describe the object and add in any other key identifiers like its color, make, or model.

In addition to the item’s details, the owner should also note the method of transfer. If the buyer paid the seller, the form should state the payment type and amount. On the other hand, if the seller gifted or traded it, the template should reflect that information.

Once the seller signs the form, the buyer legally owns the property. In other words, if the buyer does not pay before signing, they can get away with not paying. To prevent disputes, payment should occur directly after filling out the bill of sale.