Bill of Sale
Create a Colorado-compliant Bill of Sale for medical practice assets. Protect your practice with clauses for HIPAA, Stark Law, and C.R.S. § 38-10-108.
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As a Colorado physician, transferring clinical assets or EHR systems requires more than a simple receipt. Under Colo. Rev. Stat. § 38-10-108, transactions exceeding $500 must be documented in writing... Read more
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Customize your Bill of Sale
12 fields · Takes about 2 minutes
Legal Document
Seller
[seller_name]
Buyer
[buyer_name]
The Seller hereby sells, transfers, assigns, and conveys to the Buyer, and the Buyer hereby purchases and accepts from the Seller, the following described personal property (the "Property"): [item_description]. The Buyer acknowledges that the Buyer has had a full and adequate opportunity to inspect the Property prior to the execution of this Agreement and accepts the Property in its current condition as described herein.
The total purchase price for the Property is [sale_price] (the "Purchase Price"), payable in full by the Buyer to the Seller on or before the Sale Date. The Buyer and Seller acknowledge and agree that the Purchase Price represents the fair and agreed-upon value of the Property as negotiated between the Parties at arm's length. Upon receipt of the Purchase Price in full, the Seller shall be deemed to have been fully compensated for the sale, transfer, and conveyance of the Property, and the Seller shall have no further right, title, or interest in or to the Property or the Purchase Price.
The Seller hereby represents and warrants to the Buyer that: (a) the Seller is the sole and lawful owner of the Property and has full right, power, and authority to sell, transfer, and convey the Property to the Buyer; (b) the Property is free and clear of all liens, encumbrances, security interests, pledges, claims, charges, and restrictions of any kind whatsoever; (c) the Seller has not previously sold, transferred, assigned, pledged, or otherwise encumbered the Property or any interest therein to any other person or entity; and (d) the Seller will defend the Buyer's title to the Property against any and all claims and demands of any person or entity claiming an interest therein.
Upon execution of this Agreement and receipt of the Purchase Price in full, the Seller hereby irrevocably transfers, assigns, and conveys to the Buyer all of the Seller's right, title, and interest in and to the Property, free and clear of all liens, encumbrances, and claims of any kind. Title to and risk of loss of the Property shall pass from the Seller to the Buyer upon the execution of this Agreement and payment of the Purchase Price. From and after the transfer of title, the Buyer shall be solely responsible for the Property, including its care, maintenance, insurance, and all risks of loss, damage, theft, or destruction. The Seller agrees to execute and deliver to the Buyer any and all additional documents, instruments, or certificates as may be reasonably necessary or appropriate to evidence or effectuate the transfer of title to the Property.
5.1 Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the state in which the transaction is consummated, without regard to its conflict of laws principles. 5.2 Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations, and discussions, whether oral or written, between the Parties relating to the sale and purchase of the Property. 5.3 Severability. If any provision of this Agreement is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and the remaining provisions shall continue in full force and effect. 5.4 Amendment. This Agreement may not be amended, modified, or supplemented except by a written instrument signed by both Parties. 5.5 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 5.6 Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective heirs, executors, administrators, legal representatives, successors, and assigns.
[asset serial number description]
IN WITNESS WHEREOF, the Parties have executed this Bill of Sale as of the date first written above, each acknowledging receipt of a copy of this Agreement.
Seller
Name: Seller
Date: 2026-04-19
Buyer
Name: Buyer
Date: 2026-04-19
As a Colorado physician, transferring clinical assets or EHR systems requires more than a simple receipt. Under Colo. Rev. Stat. § 38-10-108, transactions exceeding $500 must be documented in writing to be enforceable. Whether you are selling a laser, diagnostic machinery, or office furniture, our Bill of Sale is tailored for the medical niche. It helps mitigate risks associated with malpractice tail-claims and HIPAA data breaches by clearly defining asset condition and ownership transfer, while ensuring compliance with Colorado’s strict non-compete restrictions under C.R.S. § 8-2-113 and the Colorado Privacy Act regarding patient data storage devices.
Beyond the standard bill of sale sections, this template adds fields specific to Private Practice Doctor:
A Bill of Sale serves the core legal purpose of providing proof of the transfer of ownership of an item from the seller to the buyer. It formalizes the transaction and fulfills the legal need for documentation of the sale, aiding in preventing disputes over ownership and clarifying the terms and conditions agreed upon by the parties involved.
Malpractice lawsuits
Obtaining comprehensive malpractice insurance; using clear informed consent forms outlining risks and procedures.
HIPAA violations
Implementing strict compliance programs and regular staff training on patient privacy and data management.
When selling devices that store Protected Health Information (PHI), such as computers or EHR servers, the Seller must ensure data is wiped or transferred according to HHS standards. Our Bill of Sale includes a representation and acknowledgement section where the Seller confirms the removal of PHI, helping mitigate potential OCR audits and HIPAA violations.
Yes. Per Colo. Rev. Stat. § 38-10-108, any sale of goods for a price of $500 or more must be in writing. This document provides the necessary written framework, including required identification of parties, detailed item descriptions, and the specific purchase price to ensure legal enforceability in Colorado courts.
Medical practice sales often involve 'as-is' clauses to protect the seller from future malpractice claims arising from equipment failure. Our document includes a robust 'Warranties and Disclaimers' section, allowing the seller to disclaim all implied warranties of merchantability and fitness for a particular purpose.
While this is a Bill of Sale, it is designed to reflect Fair Market Value (FMV). To avoid violations of the Anti-Kickback Statute and Stark Law, physicians must ensure the purchase price is at FMV and not a vehicle for inducing referrals. The 'Purchase Price' clause provides the documentation necessary to demonstrate a compliant financial transaction.
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