Closing Terms

Bill of Sale

A legal document transferring assets from seller to buyer. Why it matters: This term affects what must happen at closing, how money moves, and how final obligations are documented.

Related terms

Closing

The moment when the sale officially happens and ownership transfers. Why it matters: This term affects what must happen at closing, how money moves, and how final obligations are documented.

Seller

The current business owner who wants to sell the business. Why it matters: The seller is not just handing over ownership; they are also proving the business, answering diligence requests, negotiating risk allocation, and often helping with transition.

Buyer

The person, company, investor, or fund trying to buy the business. Why it matters: Different buyers value different things, so knowing the buyer type helps an owner understand likely questions, risks, financing needs, and negotiation style.

More from Closing Terms

Bring-Down Certificate Closing Closing Conditions Closing Date Closing Statement Funds Flow Payoff Letter Post-Closing Adjustment Secretary Certificate Wire Transfer

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