Legal Question in Real Estate Law in Georgia

Bill of Sale

I have a home that was about to be fourclosed on. A friend is trying to catch up the payments. He is going to get money out of his 401k. He says he needs me to sign a bill of sale in order to get the money. Will i be signing over my home to him if i do this?


Asked on 5/01/03, 4:51 pm

1 Answer from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: Bill of Sale

I would be very concerned about what your friend is proposing. A bill of sale usually is used when someone is transferring an interest in "personal property" (e.g., cars, furniture, etc.) as opposed to "real property" (i.e., real estate). What he should be proposing is a Deed to Secure Debt, also known as a Security Deed, which will give him a second mortgage on your property. You should consult with a local real estate attorney.

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Answered on 5/01/03, 5:16 pm


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