A Bill of Sale is the legal proof of a business sale. No buyer will want to pay for, or take possession of, business assets or shares without a documented Bill of Sale provided by you, the seller.
The buyer will also want proof that you’re the true, legal owner of the items being sold.
The Bill of Sale, usually drawn up by your Lawyer, is handed over to the buyer on the day the deal is closed, as specified in the Business Sale Agreement.
Bill of Sale
I, (insert name) henceforth known as the "Seller", of (insert name of business or corporation with full address and Zip code), henceforth known as the "Business", in consideration of (insert dollar amount in words) Dollars, $ (dollar amount repeated in numbers), to be paid by (insert name), henceforth known as the "Buyer", the receipt of which is hereby acknowledged, do hereby grant, sell, transfer and deliver unto the Buyer the following:
(Add brief descriptions of the Assets or Shares transferred depending on whether it’s an Asset or Stock business sale)
These are hereby assigned to the Buyer and his/her heirs, successors, executors, administrators, to have and to hold, and use forever.
- I hereby make a covenant with the Buyer that:
- I am the lawful owner of said assets/stock (delete one as appropriate) of the Business
- I have the good right to sell the assets/stock (delete one as appropriate)
- The assets/stock (delete one as appropriate) of the Business are free from all liens and encumbrances
- I warrant to defend the Buyer’s ownership of the assets/stock detailed in this transaction (delete one a appropriate) against any subsequent challenge