A bill of sale is frequently used when a Hawaii business is being sold. In addition to the Asset Purchase Agreement, the parties will document the separate transfer to the personal property of the business. For example retiring Hawaii physicians or dentists will document the transfer of equipment to the younger buyer through a Bill of Sale.
The Hawaii Bill of Sale could have language saying it is an “as-is” sale, although that may be repetitive given it should be in the Asset Purchases Agreement itself.
In a Hawaii residential sale, a Bill of Sale technically could be used. However, most times personal property is not a part of the sale, and if it is, could be documented in the actual deed itself (inserted in Exhibit A) instead of a Bill of Sale.
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