Glossary · People and paperwork
In short
This is a legal document that formally transfers ownership of personal property from the seller to the buyer. Buyers receive this at closing to prove they now own the business assets.
In an asset purchase, the Bill of Sale lists all acquired tangible and intangible assets, such as equipment, inventory, and goodwill. It's a critical closing document. Ensure it accurately reflects everything you are buying and that the seller has the authority to transfer clear title.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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