A "Bill of Sale" is typically a simple form of legal document to transfer legal title of personal property, such as a car. Key issues in drafting a bill of sale include:

• A specific description of the asset being transferred
• Representations and warranties concerning ownership, condition and encumbrances on the asset
• Whether the asset is being transferred "as is" or not
• The price to be paid
• When payment is to occur

A "Bill of Sale" is in essence a short form contract. More expansive legal agreements are more appropriate for higher end transactions, such as the sale of real estate or the sale of a business. Sample forms of Bills of Sale can be found at www.LegalAgreements.com.