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A bill of sale is a document that transfers ownership of goods from one person to another. It is used in situations where the former owner transfers possession of the goods to a new owner. Bills of sale may be used in a wide variety of transactions: to sell goods, exchange, give, or mortgage objects.
When the conditions on the sale contract have been met, legal title passes to the buyer in what is known as closing. In England and Wales , the terms "purchaser" and "vendor" are used. [ 1 ] Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality.
This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee." [2] Under common law, this type of deed technically created a use in the buyer who then gets the title. [3] Under the statute of uses, modern real property law disregards this subtle distinction.
A deed is a legal document that is signed and delivered, especially concerning the ownership of property or legal rights. Specifically, in common law, a deed is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed.
A deed of reconveyance is a document that transfers the title of a property from the bank or mortgage company to the borrower once they’ve fully paid off the debt. What information is included ...
The lien may be satisfied by selling the vehicle through the lien sale process. To conduct a lien sale, the person/lienholder must have possession of the vehicle and may require lien sale authorization from the State's Department of Motor Vehicles, depending on the State and or value of the vehicle. Interested parties, including the registered ...
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Vehicle titles are also used for car title loans, in which a car owner gives the vehicle lender their vehicle title as collateral in exchange for a loan. In addition to the vehicle title, lenders often also require the borrower to provide a set of keys for the car and/or purchase a roadside service plan.
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