What is a bill of sale?

The bill of sale is known as a written document which includes the rights and duties that must satisfy the two parties, one called a vendor and the other buyer, on the transfer of ownership of property either movable or immovable property along with a change of an amount of money or other to represent you.

Specifically, the minute details of the geographical boundaries, the rights of the common areas and the mortgages of a well. This is prepared by a lawyer with the purpose of becoming a public deed.

Types of bill of sale:

The minutes of sale are classified based on the method of payment, the object of the sale, the nature of the seller or buyer, among others. That is why, within the relationship of the minutes of sale we can find:

Parts of the minutes of sale:

The minute of sale is made up of different parts that it is important to know and to take the necessary time to understand each step:

1. Statement of the assets for sale by:

In the first place, you must determine the names of the owners with their ID number and their address corresponding legal to send them a report on the state of the case. Equally, you need the names of the buyers, their ID and their addresses corresponding legal.

These data are critical to know the parties and is always requested in any legal contract.

2. Statement of the assets for sale by:

Will point out all the electronic items that are a part of the sale and the addresses of such real estate.

If the address that is on the PU it is different than it is presented in the game, electronics, then it is preferable to be detailed, because if there is any difference, the notary may refuse the minute.

3. Terms of sale in the minutes of sale:

At this point, is often noted as the reason for the sale, that ‘The sellers transferred, in actual sales, and alienation, perpetual, 100% of the shares and rights of the real estate’. In this way, we offer all the rights that include: uses, customs, inputs, outputs, the declaration of the factory, air, soil, subsoil, easements, and everything which corresponds to the real estate’.

If you do not want to sell everything, you will have to indicate in the document. You must also itemize the price was fair and that there is no option to claims.

4. The price and form of payment:

It's good to have a real estate agent for you to apply your knowledge of how to sell the good and help you to recognize the value of the property.

Here it is important to take into account the following points:

5. Reservation of the property:

Here is detailed that the property remains property of the estate while is not the total payment. In the case of a sale by parts, try not to sell more than 50% of the property and authorize that the buyer live in the property without having paid the rest. This is because they could not pay you and evict you would be complicated because it has more than 50% of the ownership of the property.

6. Requirements:

Detailed buyers to support the future obligations for being the new owners, but in case there are old problems, the sellers can't break away because they are bound to the eviction.

It is also placed that the buyers did not have a place to claim. And in the case of the sellers, are places that are agreeable and there is no problem with respect to the property, that there are no hidden defects and undertake to deliver all the necessary documents.

7. Free of charge:

It should detail the property does not come along to benefits for other people to avoid any trick or surprises on the part of buyers

8. Payment before making the minutes of sale:

Sellers are required to pay the property tax of the year, although at this point you have already done so already that you need to make the payment to continue with the minutes. It also places that will pay all the debt of the property up to the present, that is to say the date of the transfer.

9. Affidavit:

Here are details, which include the following documents: HR (Summary Sheet), PU (Predio Urbano), property Tax throughout the year, paid by the seller, Pdv paid by the buyer, and the payment of income tax by the seller.

Importance of bill of sale:

The bill of sale is necessary and relevant for the transfer of goods, even more so when it comes to real estate. Because of this, the minutes should always be well written and must contain the signature of a lawyer and enabled, which must have experience in the matter as you will be responsible for identifying the method of purchase and sale, to recognize the well-to-level registration and municipal decree the form of payment, and raise the different agreements of the parties.

Process of formalization of the minutes of sale:

Once the bill of sale signed by the actors responsible for and authorized by the attorney, should be admitted to a notary to travel to public writing and contain the signature of the notary public. This signature will authorize the operation according to the formality given in our legal system. Finally, this process concludes with the sending of the part of attorney to public records to enroll in the registry of land, yielding to the sale of more legal guarantees and with effect to third parties.