It also sells the property as it is in its current condition, with no promises about the quality of that item.

It grants all of the seller’s rights to the buyer as they currently exist. No warranties means that the bill of sale does not make any promises about the condition of the property or the seller’s rights in that property. An as-is bill of sale documents many of the same details but clarifies that the seller gives no warranties regarding the item’s condition. For example, several states require a bill of sale for motor vehicle transactions.

It helps to prove the transfer of an item and may be required by state law for certain types of transfers. Once the transaction or sale is complete, ownership and title to the property will transfer to the buyer.Ī bill of sale document is evidence of the sale and the critical details of that sale. What Should an As-Is Bill of Sale Include?Īn as-is bill of sale is a legal document that proves a buyer is purchasing a thing in its current and present condition without any warranties from the seller.The seller does not warranty or guarantee anything about the item when selling it.Īn as-is bill of sale helps document that you are selling the item in as-is condition. The buyer agrees to accept the item with any known or potentially unknown defects in the property. An as-is bill of sale means the buyer agrees to purchase the item in its current condition, regardless of what that condition is.

Free template bill of sale for car word