Bill Of Sale- Lease Option
Make the bill of sale a valid document
Bill of sale is a document that signifies the buying and selling of a property. In this bill the seller writes off his ownership in favour of the buyer. The bill of sale signifies that a transaction took place and in return of the money the land or property ownership was transferred to the buyer.
The contents of bill of sale
The bill of sale must contain the name and address of the seller or the present owner of the property. The owner must first declare himself the lawful owner of the property. Thereafter, the name and address of the buyer who will become the future owner of the property is noted down, also the amount that has been given and taken during this transaction.
Any declaration that has to be made must be made at this juncture because after this it would not be possible to include it.
The seller must take all the responsibility of any claim that is made on the property later on
Bill of sale is an important document that can b used in the court of law as an evidence of transaction in case of any dispute regarding the ownership of the property.
At the end of the bill both the seller as well as buyer put their signature with dates thus sealing the deal.
Bill of sale is just like an elaborate receipt that allows you to keep an evidence of the sale and purchase of the real property from one hand to another in exchange of money.
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