Bill of Sale
Secure your Michigan real estate investments with a compliant Bill of Sale. Specifically designed for REIs to handle fixtures, equipment, and personalty.
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As a Michigan real estate investor, a standard real estate deed doesn't always cover the transfer of non-realty assets like appliances, smart home systems, or maintenance equipment. To maintain your... Read more
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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.
[item description unique id]
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 Michigan real estate investor, a standard real estate deed doesn't always cover the transfer of non-realty assets like appliances, smart home systems, or maintenance equipment. To maintain your cap rate and protect against liabilities under the Michigan Consumer Protection Act, you need a precise Bill of Sale. This document serves as legal proof of ownership transfer, mitigating risks of tenant liability and zoning violations by clearly defining property boundaries and 'as-is' conditions. By formalizing the transaction with required clauses like Parties Identification and Purchase Price, you ensure compliance with MCL 566.132 and avoid common pitfalls like ownership ambiguity or unenforceable oral agreements.
Beyond the standard bill of sale sections, this template adds fields specific to Real Estate Investor:
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.
Tenant liability
Mitigated through comprehensive lease agreements that clearly outline tenant responsibilities, liabilities, and landlord’s rights.
Zoning violations
Ensured compliance by conducting thorough land use research and consulting with legal professionals for zoning compliance prior to property acquisition.
Given Michigan's modified comparative fault rules, an 'As-Is' clause (Warranties and Disclaimers) is vital to limit your liability regarding property defects. It explicitly informs the buyer they are accepting the item's current state, which helps protect your exit strategy and cash-on-cash return if a secondary dispute arises.
While not always required for low-value personalty, Michigan law requires notarization or witness verification for high-value items or to ensure the document is self-authenticating for future 1031 exchange audits or if a transaction fails to close as planned, securing your earnest money position.
Under Michigan's Statute of Frauds (MCL 566.132), certain agreements must be in writing to be enforceable. Using a formal Bill of Sale ensures that your transfer of tangible assets is legally recognized, particularly when these assets are part of a larger commercial lease or joint venture agreement.
Yes, but you must remain compliant with the Bullard-Plawecki Employee Right to Know Act (MCL 423.501). If the transfer involves equipment used by employees or is part of an employment record, ensure documented transparency and access to these records as required by Michigan law.
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For this bill of sale to be legally valid:
Common mistakes to avoid:
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