The pros and cons of an as is bill of sale.
Explore the benefits and downsides of an as is bill of sale for smoother transactions.
An as is bill of sale form, also known as a quitclaim or no-warranty bill of sale, is like a detailed receipt — but with a special caveat. It doesn’t make any promises about item performance or guarantee a property (like a boat or plane) doesn’t have any claims against it. Discover the ways an as is bill of sale can benefit you, as well as what to look out for.
Use an as is bill of sale to benefit both parties.
Sellers can use an as is bill of sale to transfer property like a vehicle smoothly — and without having to check that the title or property they’re selling is clear. This means that if there is a lien against the car or boat you’re selling, you aren’t responsible for it once the transaction is complete. However, if you’re the buyer, you’re more likely to get a reduced price with an as is bill of sale.
When to exercise caution with an as is bill of sale.
To sell an item at full asking price, you probably shouldn’t use an as is bill of sale. Instead, explore other bill of sale options that include warranty clauses.
Alternatively, if you buy something with an as is bill of sale, you might be on the hook for liens or faulty equipment later on. To avoid sticky situations like this, research the item you want to buy beforehand. Explore everything you can do with Adobe Acrobat Pro DC with e-sign today.