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Bill of Sale

Personal Property

For private sale of personal property, a Bill of Sale is recommended if something of value has been sold as evidence of the transfer of ownership. A Bill of Sale is a document that transfers ownership of the personal property from the seller to the buyer by the transfer of possession to the new owner. 

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01

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02

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Document Description

For private sale of personal property, a Bill of Sale / Equipment bill of sale is recommended if something of value has been sold as evidence of the transfer of ownership. A Bill of Sale / Equipment bill of sale is a document that transfers ownership of the personal property from the transferor / seller to the transferee / buyer by the transfer of possession to the new owner. 

Bills of exchange are used to protect the transferor and the transferee in any future problems. It serves as a receipt for the payment of the property and proof of transfer of ownership. It includes information about the transferor and transferee and detailed information about the property, description, and price. It also allows the transferor to disclaim any liability in relation to the property as the property is sold on an "as is" basis.

How to use the document 

The document should be carefully read by the individual Transferor and Transferee.

Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.

If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.

The Bill of Sale should be registered with the relevant shipping registry at the jurisdiction where the vessel is registered.

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