Bill of Sale
Create a Tennessee compliant Bill of Sale for real estate investors. Protect your 1031 exchange and property upgrades under TN Code Ann. § 29-2-101.
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In the Tennessee real estate market, distinguishing between real property and personal property is vital for your cap rate and tax strategy. Whether you are executing a 1031 exchange or selling a... 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.
[asset detailed 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
In the Tennessee real estate market, distinguishing between real property and personal property is vital for your cap rate and tax strategy. Whether you are executing a 1031 exchange or selling a property with high-value appliances and HVAC systems, a Tennessee-specific Bill of Sale provides critical proof of transfer. By adhering to the TN Statute of Frauds (Tenn. Code Ann. § 29-2-101), this document mitigates liabilities regarding property defects and facilitates transparent cost allocations required by RESPA. Protect your cash-on-cash return by clearly defining asset transfers 'as-is' to shield yourself from future claims regarding property maintenance or zoning compliance.
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.
Yes. While the deed transfers the land, the Bill of Sale transfers ownership of personal property such as appliances or maintenance equipment. Under Tenn. Code Ann. § 29-2-101, having a written agreement is essential for enforceability and prevents disputes over which items were included in the purchase price.
If you are selling fixtures recently installed by contractors, Tennessee law (Tenn. Code Ann. § 62-6-501) may impact the transfer. A Bill of Sale allows investors to provide 'as-is' disclaimers, effectively shifting the risk of future property defects or maintenance to the buyer after the due diligence period.
While Tennessee law generally enforces written contracts signed by both parties, notarization is highly recommended for high-value investment transactions to add a layer of authenticity and ensure the document is legally binding in the event of a dispute over ownership or LTV ratios during refinancing.
Indirectly, yes. By clearly documenting the transfer of maintenance equipment or furnishings through a Bill of Sale, you establish the legal owner responsible for those items, which assists in defining liability boundaries within your comprehensive lease agreements.
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