Certificate of Sale

Definition

• After legal confirmation, an affidavit is issued at a judicial or tax sale to the buyer of a property. The buyer is then entitled to the deed of the property.

Synonyms
sales receipt, signed document, notarized statement, legal document

Related Terms and Acronyms

• Bill of Sale (BS) — Acronym, Important,
  • A written document that serves as evidence of the transfer of title to personal property.
• Certificate of Occupancy (CO) — Acronym, Important,
  • 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 — Definition,
  • A written document stating that the title to a piece of property is legally vested in the present owner.
• Claim — Definition,
  • A creditor's assertion of a right to payment from a debtor or the debtor's property.
• Contract to Purchase — Definition,
  • A document in which a property's buyer and seller approve the price and other terms of the transfer of title. Also known as an agreement of sale, a purchase contract or a sale contract.
• Covenant — Definition,
  • A promise made in a contract or property deed.
• Deed (D) — Acronym, Very Important,
  • A document that provides title to property and is filed with a country recorder.
  ➥ Used to transfer ownership of assets, often land or automobiles.
• Land Contract (LC) — Acronym,
  • 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.
• Land Title — Definition,
  • The legal document conveying title to a property.
• Note — Definition,
  • A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
• Purchase Agreement — Definition,
  • A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
• Title — Definition,
  • Evidence of a person's right to possession ownership of a property.