What is a Bill of Sale?

A Bill of Sale is specifically defined as a legal document that is used to transfer ownership of personal property from one party to another. This document serves as proof of the transaction and generally includes details such as the description of the item being sold, the names and addresses of the buyer and seller, the date of the transaction, and the purchase price. This is crucial in establishing clear ownership and can be necessary for registering certain types of property, like vehicles.

The other options represent different types of documents that serve distinct purposes. For example, a document that outlines terms of a contract refers to agreements governing the relationship between parties but does not pertain specifically to the transfer of ownership. A certificate of authenticity typically verifies the legitimacy of a product or document but is not involved in the actual transaction or transfer of property. Lastly, a notarized affidavit is a sworn statement made before a notary public but again does not focus on the transfer of ownership or sale of property like a Bill of Sale does.