Provide a detailed description of the property or asset being sold. A business bill of sale is a legal document that recognizes the sale and change of ownership of a business and all its assets.Learn about different ways Notaries can incorporate their business to protect financial and personal assets. Free bill of sale in Michigan to be used for a car, motor cycle or general bill of sale form. Forms. Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. A notarized bill of sale protects your interest and will make the transaction official. The document makes the ownership more secure.