Bill of Sale

A bill of sale is a document used in real estate to describe in writing the specifics of a transfer of property. This special real estate document provides legal evidence that the seller has transferred the rights to the property described in the bill of sale to the purchaser. It should be noted that a bill of sale may also be called a purchase and sale agreement. Sometimes, a bill of sale is very simple, but others can be rather complex. The complexity of the bill of sale depends on the type of real estate transaction. A real estate transaction with assets worth substantial sums of money will often have a more complex bill of sale than a smaller and less valuable property. A typical bill of sale for a property will detail whether any appliances or fixtures are included in the sale and information about the closing costs and building inspections.