Similarly, the form protects buyers who get cheated into buying or selling stolen property.
Here are a few instances where you might need them: By signing, the buyer agrees to own the property on an as-is basis. Since it is a valid contract, the seller also gains protection in case the buyer reverts to you when they become dissatisfied with the product. A general bill of sale form must be signed by the buyer and seller, making it legally binding. The form is useful to the new owner as proof of ownership. So, what is a general bill of sale form? It is a legal document that functions like a receipt and usually issued by a seller of the property for exchange of cash or something else of value.
