Bill of sale

Definition

The closing document that transfers the assets themselves from seller to buyer.

Why It Matters

This is what actually delivers the property at close, separate from the purchase agreement that promised it: one is the contract, the other is the handover. It matters most where specific assets need clear title to change hands, so what it lists, and leaves off, is worth checking against the schedule in the agreement.

In numbers: At closing the bill of sale conveys the trucks, tools, and $80k of inventory the agreement listed; the deed does the real estate and the assignment does the contracts, and together they are what you bought.