A Bill of Sale is primarily used to accomplish which of the following?

A Bill of Sale serves as a legal document that signifies the transfer of ownership of personal property from one party to another. This document typically includes details such as a description of the item, the purchase price, and the signatures of both the buyer and the seller, ensuring that both parties acknowledge the transaction.

When it comes to personal property, which includes tangible items like vehicles, furniture, electronics, and other movable possessions, a Bill of Sale is particularly crucial. It provides evidence of the transaction and can be used to establish proof of ownership. This is especially important in situations where ownership needs to be documented for legal, tax, or insurance purposes.

In contrast, transferring title to real property involves different legal documents such as a deed, which is used to convey real estate ownership. Intellectual property transfers are typically handled through agreements that specify licensing or rights to use such assets. Therefore, the function of a Bill of Sale is distinctly aligned with personal property, reinforcing why the identification is accurate in this context.