Sell Law and Legal Definition

Sell means to exchange possession and ownership of goods or property for money or something of value. A bill of sale is a document that transfers ownership of an asset from a seller to the buyer, a basic agreement for sale of goods, and a sales receipt.

Most bill of sale forms require the following information:

  • Amount of consideration paid for the transfer of title and date of purchase.
  • Name and address of Seller
  • Name and address of Buyer
  • Specific information about the asset being transfered from the seller to the buyer.
  • Guarantee from the seller that the item is free from all claims and offsets.
  • Any representations or warranties
  • Signature of the seller(s)
  • Signature of a notary public.