The Real Estate Bill of Sale Contract is a crucial document in U.S. property transactions that formalizes the transfer of real estate ownership. It's used when a definitive record of property sale is required, providing legal protection for both parties. The document includes essential details such as property description, purchase price, warranties, and transfer terms. It must comply with state-specific real estate laws and often requires notarization. This contract type is particularly important as it serves as official evidence of the transaction and helps prevent future disputes regarding property ownership.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background: Brief context of the transaction and property being sold
3. Definitions: Key terms used throughout the document
4. Property Description: Detailed legal description of the real estate being transferred
5. Purchase Price: Statement of consideration and payment terms
6. Transfer of Title: Terms of property transfer and title conveyance
7. Representations and Warranties: Seller's statements regarding property condition and ownership
8. Closing and Settlement: Details of closing process and requirements
9. Signatures: Execution block with notarization requirements
1. Contingencies: Conditions that must be met before closing, used when there are specific conditions that must be satisfied
2. Personal Property Included: List of fixtures and personal property included in sale, used when personal property is included in the sale
3. Environmental Disclosures: Specific environmental conditions or hazards, used when property has known environmental issues
4. Financing Terms: Details of any seller financing, used when seller is providing financing
1. Schedule A - Property Description: Detailed legal description and property boundaries
2. Schedule B - Personal Property Inventory: Itemized list of included personal property
3. Schedule C - Title Exceptions: List of liens, encumbrances, and restrictions
4. Appendix A - Property Survey: Current survey of the property
5. Appendix B - Disclosure Statements: Required state and federal disclosure forms
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