A general bill of sale is a document that verifies that a particular asset has been sold and its ownership transferred from one party to another. It is a legal document that acts as proof of the sale and provides details regarding both the sale and the asset.
Before you write a general bill of sale, you should make sure that it is what you need. In some states a more specific type of bill of sale document may be required for certain assets such as vehicles, pets, and property.
More often than not a general bill of sale is suitable for more common yet high-value items, such as jewelry, artwork, furniture, consumer electronics, collectors’ items, and so on.
Once you’ve determined that you do need to write a general (and not specific) bill of sale, you should be sure to include the following information:
- Buyer’s and seller’s details that typically include the name, address, and contact number.
- Description of the asset that is being sold. It should be detailed enough and include any information that could help to identify the specific item such as the size, color, distinguishing marks, model number, and so on.
- Previous owner of the asset and their address and contact details if available.
- Special conditions on the sale that should make note of any damage or faults, state if it is being sold ‘as is’ and without liability on the part of the Seller, or if there is any warranty on being provided by the Seller.
- Date of transaction that should be written out so that there is no doubt about its format, e.g. 29th September 2018.
- Amount paid that should be written in both words as well as numerals.
- Method of payment that should specify whether it was cash, check, bank transfer, or credit card.
- Type of payment that will note whether the payment was made in full or whether it was in installments.
- Agreement regarding any due dates for pending payment, late payment, or interest accrued.
- Signatures and names of the buyer and seller at the bottom of the bill indicating the acceptance of both parties.
- Signature and names of any witnesses present – preferably at least one.
For most assets the information listed above should suffice, and will provide you with a legal general bill of sale. As you may have noticed it is important to be specific, and you should double-check all the information to make sure it is accurate.
The general bill of sale must also be legible, and it is best to type and print it out rather than coming up with a handwritten form. If you want you can use a template or for example you could use Movavi PDF Editor’s general bill of sale form.
It is advisable that you create a general bill of sale form when selling or buying any item that is of value. Not only will it provide proof of the ownership of the item, but it may be required for tax purposes.