How is personal property typically transferred in a real estate transaction?

In a real estate transaction, personal property is typically transferred using a Bill of Sale. This legal document serves as proof of the transfer of ownership for personal property items, which are not attached to the real estate. Personal property may include items such as furniture, appliances, or equipment.

A Bill of Sale outlines the details of the transaction, including the description of the personal property, the parties involved, and the purchase price. It acts as a receipt and helps protect the buyer's rights to the personal items being transferred, ensuring clarity about what is included in the sale.

The other choices, while relevant to real estate transactions, do not pertain specifically to the transfer of personal property. A Transfer Deed is used for real property, the Purchase Agreement pertains to the overall terms of the sale of the property itself, and an Escrow Account is a financial arrangement used to hold funds until the transaction is finalized.