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Bill of Sale with Warranty for Corporate Seller - South Dakota

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The document is a Warranty Bill of Sale, outlining the sale of personal property from a Seller (a corporation) to a Purchaser for a specified amount. It includes details about the property being sold, the Seller's assurance of ownership and authority to sell, and a warranty against claims from others. The document requires signatures and notarization to validate the transaction.

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What is the difference between a bill of sale and a warranty bill of sale?

A warranty bill of sale offers protections for the buyer that a simple receipt does not. This kind of bill of sale clearly details what is being sold and gives a guarantee to the buyer about the sellers ownership rights. The bill of sale promises that the buyer holds full and clear title to the item sold.

What is the bill of sale representations and warranties?

A representation is a statement of fact that is true to the best of the makers knowledge on the effective date of the representation. For instance, Seller represents that Seller has the authority to transfer this company. A warranty gives the buyer indemnification if the representation is false.

Why would a seller want a special warranty deed?

A special warranty deed is a type of real estate deed used to transfer property ownership from one person to another. By using this particular deed, the seller is guaranteeing to the buyer that there are no defects or problems with the property title during the time that they owned the property.

Is a bill of sale required in South Dakota?

If you want to transfer ownership of a boat, car, or horse in South Dakota, you need a bill of sale. The document provides legal protection whenever you buy or sell any high-value items.

What is an example of a special warranty?

Special warranty deed Example Consider a scenario where John, a property investor, purchases a commercial building from Sarah. Sarah provides John with a Special Warranty Deed. This deed guarantees that no title issues or encumbrances arose during Sarahs ownership.

What is a special warranty bill of sale?

A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during their ownership. A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.

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What is the difference between a bill of sale and a warranty bill of sale?

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Why would a seller want a special warranty deed?

Is a bill of sale required in South Dakota?

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Get the up-to-date Bill of Sale with Warranty for Corporate Seller - South Dakota 2025 now

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Got questions?

What is the difference between a bill of sale and a warranty bill of sale?

What is the bill of sale representations and warranties?

Why would a seller want a special warranty deed?

Is a bill of sale required in South Dakota?

What is an example of a special warranty?

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