What document is used to deliver title to farm machinery?

Prepare for the Mississippi Auctioneers License Exam with flashcards and multiple-choice questions. Each question offers hints and explanations. Ace your exam!

The bill of sale is the correct document used to deliver title to farm machinery because it serves as a legal record of the transfer of ownership from one party to another. This document contains important information such as a description of the machinery, the date of the sale, and the names of both the seller and the buyer. By executing a bill of sale, the seller provides proof that they have relinquished their ownership rights and the buyer has gained them, making it an essential part of the transaction for both parties involved.

In contrast, a contract generally outlines the terms of an agreement but does not specifically serve to transfer title unless it is followed by a bill of sale. A warranty deed, primarily used in real estate transactions, conveys ownership of property rather than personal property like farm machinery. A lease agreement, on the other hand, allows one party to use the property owned by another for a specific period in exchange for payment but does not transfer title. Therefore, the bill of sale is specifically tailored for the direct transfer of ownership of personal property, such as farm machinery.

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