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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
62% - Often

Bill of Sale


Synonyms:bill, check, contract, invoice, receipt, statement
Acronyms &
abbreviations:
BS
Filed Under: legal-contracts, real-estate
Tags: accounting
 

Definition of bill of sale (BS)

bill of sale (BS)
1. Written proof in the form of a receipt or document that serves as confirmation for the transfer of title to personal property.

Related Terms and Acronyms:

  • as is where is   The buyer must examine the goods or property and buy at his or her own risk.
  • burden of proof (BOP)   The legal requirement to provide enough evidence to win a lawsuit. In civil cases, such as tax court, the burden is decided by the preponderance -- the most -- evidence. Except in cases of tax fraud, the burden of proof in a tax case generally is on the taxpayer.
  • certificate of occupancy (CO)   Authorization by a local government giving permission for someone to live in or use a building that has just been constructed or renovated.
      ➥  Zoning bylaw.
  • certificate of title   A written document stating that the title to a piece of property is legally vested in the present owner.
  • contract for deed (CFD)   An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
  • housing discrimination   The illegal practice of discriminating against buyers or renters of dwellings on the basis of race, colour, religion, national origin, sex, family status or disability.
  • legal description (lgdc)   A way of identifying a piece of property in writing that is acceptable to a court.
  • legal mortgage   The written geographical description of a property as described in the land register.
  • lis pendens   A legal document giving notice that an action or proceeding is pending in the courts which affects the title to the designated property.
  • title   Evidence of a person's right to possession ownership of a property.

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