WHAT IS A BILL OF SALE?

WHAT IS A BILL OF SALE?

Many Nigerians think buying a car or other valuable movable property ends with paying money and taking possession. Not so.

Without a Bill of Sale, you have no legal proof that ownership has actually changed.

A Bill of Sale, commonly called a Change of Ownership document, is a legal document that transfers ownership of movable property (car, motorcycle, boat or equipment) from the seller to the buyer.

It is your proof against future disputes. It records details such as the names of the parties, description of the property, date of transfer, purchase price, witnesses and signatures. In some cases, it even includes notarization to give it stronger legal force.

It is important because in Nigeria today fraud is real. Imagine buying a car only for another person to show up with documents claiming the same vehicle.

Without a Bill of Sale, you cannot prove ownership. If the authorities stop you, you may be treated as a thief of the very property you paid for.

It protects your property interests and the consequences of not having one are disputes, counter claims, loss of money and even arrest.

That is why a Bill of Sale (aka Change of Ownership) should be prepared by an experienced Property or Business Lawyer who will ensure the document is valid, enforceable and leaves no loopholes.

Because when it comes to ownership, if it is not written and signed, you are wrong.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com