Document background
A General Bill of Sale serves as a formal record of a sale transaction under Singapore law. This document is essential when transferring ownership of personal property, from simple consumer goods to valuable assets. It provides legal protection for both buyer and seller by clearly documenting the terms of sale, description of property, and transfer of ownership rights. The document must comply with Singapore's Sale of Goods Act and may require stamp duty payment. A General Bill of Sale is particularly important for high-value items where proof of ownership transfer is crucial for legal and insurance purposes.
