However, the bill of sale must contain all information about the transaction. If you want to prove ownership of the property, you can use a personal property bill of sale. ![]() Physical possession of a property does not require for property ownership in many states. Similarly, a bill of sale may serve as a receipt, but a receipt cannot serve as a bill of sale. All personal property you sold “as-is, where-is” that is without warranty.Ī bill of sale and a receipt serve nearly the same purpose, but a bill of sale contains detailed information about the transaction while a receipt only shows proof of payment. This document needs to sign after the completion of the sale. Further, the bill of sale keeps the record of two parties related to a transaction. Similarly, this form requires mostly by the new owner who is going to prove the first ownership. Moreover, you can exchange the property in the form of cash or trade. A personal property bill of sale form is such a document that works as a receipt for any transfer of ownership from the seller to the buyer.
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