The Bill of Sale Agreement template is a legal document used for the ownership transfer of a property. It outlines the terms and conditions of the sale and purchase between the seller and the buyer. The template includes sections for descriptions of the property, warranties and representations, purchase price, closing details, governing law, notices and other important clauses for the transfer of ownership.
This Bill of Sale Agreement (the "Agreement") is made and entered into as of the ____ day of ________, 20__, by and between [Seller Name] ("Seller"), with a mailing address of _____________________, and [Buyer Name] ("Buyer"), with a mailing address of _____________________.
A. Seller is the lawful owner of the property described below (the "Property").
B. Seller desires to sell the Property to Buyer, and Buyer desires to purchase the Property from Seller.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Agreement, the parties agree as follows:
1. SALE AND PURCHASE
(a) Sale. Seller hereby sells, conveys, transfers, and delivers to Buyer, and Buyer hereby purchases and accepts from Seller, the Property described in Exhibit A, free and clear of all liens, encumbrances, and other claims.
(b) Purchase Price. The purchase price for the Property shall be $_________ (the "Purchase Price"), which shall be paid by Buyer to Seller on the date of this Agreement by [cash/check/wire transfer].
2. WARRANTIES AND REPRESENTATIONS
(a) Seller's Warranties. Seller warrants and represents to Buyer that:
(i) Seller is the lawful owner of the Property and has the right to sell the Property to Buyer;
(ii) The Property is free and clear of all liens, encumbrances, and other claims;
(iii) Seller has not transferred, assigned, or conveyed any interest in the Property to any third party; and
(iv) Seller shall execute and deliver to Buyer such additional documents and instruments as may be necessary to effectuate the sale and transfer of the Property to Buyer.
(i) Buyer has inspected the Property and is satisfied with its condition;
(ii) Buyer is purchasing the Property "as is" and "where is," without any warranties or representations from Seller, except as expressly set forth in this Agreement;
(iii) Buyer has not relied on any representations or warranties from Seller, except as expressly set forth in this Agreement; and
(iv) Buyer shall be responsible for all costs and expenses associated with the transfer of the Property to Buyer, including without limitation, recording fees, taxes, and other charges.
The closing of the sale and purchase of the Property shall take place on the date of this Agreement, at such time and place as agreed to by the parties.
4. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of ________, without giving effect to any choice of law or conflict of law provision.
5. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements, whether written or oral.
This Agreement may not be amended or modified except in writing signed by both parties.
Neither party may assign or transfer its rights or obligations under this Agreement without the prior written consent of the other party.
All notices and other communications required or permitted under this Agreement shall be in writing and shall be deemed given when delivered personally, or when sent by registered or certified mail, return receipt requested, postage prepaid, to the parties at their respective addresses set forth above.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.