Well, September has flown by and I've realized I haven't written a Term of the Month yet! It likely didn't help that I was out of the country for a few weeks....
Here is a belated Real Estate Glossary Term of the Month for September: "Bill of Sale."
Bill of Sale - a document used to transfer title (ownership) of personal property.
A Bill of Sale is used in a real estate transaction to transfer title of any
items that do not integrally belong to, are adapted to, or are a part of the real estate. For example, if the buyer and seller agree that the dining room table, the trampoline in the backyard, or the lawn furniture will stay with the house after it is sold, those items must be put on a Bill of Sale, as they are not considered "Included Property." "Included Property," such as window treatments, light fixtures, doorbells, etc., is allowed to be written into the actual purchase agreement.
Here is a belated Real Estate Glossary Term of the Month for September: "Bill of Sale."
Bill of Sale - a document used to transfer title (ownership) of personal property.
A Bill of Sale is used in a real estate transaction to transfer title of any
items that do not integrally belong to, are adapted to, or are a part of the real estate. For example, if the buyer and seller agree that the dining room table, the trampoline in the backyard, or the lawn furniture will stay with the house after it is sold, those items must be put on a Bill of Sale, as they are not considered "Included Property." "Included Property," such as window treatments, light fixtures, doorbells, etc., is allowed to be written into the actual purchase agreement.
Bill of Sale - a document used to transfer title (ownership) of personal property.