The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. Second, we also include links to advertisers’ offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. Using an as is form makes the terms of the transaction clear to all parties so they can take the right steps to protect their interests. And sellers must make sure that they have communicated that there are no warranties or guarantees so the buyer cannot try to seek a refund or other recourse if it turns out there is an issue after the item is sold. Buyers must make sure they do their due diligence. When an asset is sold as is, all parties to a transaction must understand the implications of this. If property is sold as is, it is sold in its current condition with no warranties or promises of future performance. What Is an ‘As Is’ Bill of Sale?Īn “as is” bill of sale explains what property is changing hands, but it is specifically used when property is sold as is. It is typically just a simple one-page form that is easy for anyone to understand. It is also not a service contract, which is used when someone sells a service. This is not a sales contract that offers details on every issue in a complex sales agreement. It creates a paper trail so it is easy to trace the history of an asset and know who owned it at any given time.

The form serves as evidence of purchase and proof of legal ownership. Specifically, the form details who the current and new owners are, provides their contact details, indicates what property changed hands and specifies the purchase price and date of transfer. The purpose of the form is to show what happened when an item was sold. This document includes details about a sales transaction.

Simple texas vehicle bill of sale