Instead, it just describes a piece of property and specifies who owned that property previously, who the new owner is, what money (if any) was paid for the purchase and the date of the purchase. ![]() And it cannot be used for the transfer of real property, which is any type of real estate like a house or lot. It also isn’t a service contract, which is used when someone is selling services. This document isn’t a sales contract, as a sales contract is more comprehensive and provides more details on the terms of a transfer of property, such as details about a warranty. ![]() It serves as a proof of purchase, which can be helpful when registering a vehicle or otherwise showing ownership of property. ![]() This is a simple legal document that shows when a purchase took place and the basic terms of the agreement.
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