What is executed on a purchase to document the sale of personal property?

A bill of sale is a legal document that serves to transfer ownership of personal property from one party to another. It is particularly important as it provides evidence of the transaction and outlines the details regarding the item being sold, including a description of the property, the sale price, and the signatures of both the seller and the buyer. This documentation is essential for clarifying the terms of the sale and ensuring that the buyer has legal claim to the property.

In contrast, a bond of sale typically relates to financing arrangements rather than just the transfer of ownership. A bill of lading is associated with the transportation of goods, serving as a receipt for the cargo and a document of title, but does not serve to transfer ownership of personal property itself. A contract agreement is a broader term that can encompass various types of agreements and does not specifically denote the sale of personal property. Therefore, the bill of sale is the most appropriate document to formally document the sale of personal property in this context.