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When Is A General Bill Of Sale Needed?

By Author: Carl Glendon
Total Articles: 174
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A General Bill of Sale is a type of document that acts as a receipt for some kind of personal property that is exchanged for cash or trade. This type of form is regarded as a valid, legally binding document when each party signs it and following the completion of the trade. Such a document makes buyers understand that they are purchasing the property in an “as-is” condition. Find out when it is needed.

To prove ownership

This type of form is required by a new owner more if he should ever be compelled to prove that he is the owner of the item mentioned in the document. An ownership proof might be necessary at the time of selling the item, and show to a prospective buyer that the seller is in fact the rightful owner of the same. For more information about getting a Bill of Sale in Georgia, please visit this website.

To show who owned it previously

At the very least, a free bill of sale form can mention the person who was the prior owner and who sold the item. This can be necessary when the present owner has to show, possibly if there is some legal hassle involving the item, that he is not responsible for any problem with it.

For legal reference

The seller can also show that both he and the buyer agreed to the terms that are listed in the bill of sale. These documents have all types of information from the seller and buyer, such as a description of the item being offered on sale, the sale date, warranties, other terms and signatures of the seller, buyer and any witness. A bill of sale holds both parties accountable to the terms agreed on and mentioned. If any legal issue crops up regarding the sale of the item, the bill of sale can work as a referential document. Please visit this website for more info about legal documents free.

Author Resource:-

Carl writes often about online legal drafting like affidavit, bill of sale and release/ waiver agreement to help the people. You can find his thoughts at my legal forms blog. To learn more about drafting a bill of sale in Kentucky online, visit this website.

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