What document is used to transfer title of personal property from one person to another at closing?

The document used to transfer title of personal property from one person to another at closing is called a bill of sale. A bill of sale serves as a legal instrument that indicates the transfer of ownership of personal property, which can include items such as vehicles, furniture, or equipment. It outlines the specific details of the transaction, including the parties involved, a description of the property, and the terms of the sale.

While a deed is employed for the transfer of real property (real estate), it does not pertain to personal property. Similarly, a sales contract outlines the terms of a sale but does not formally transfer title at the closing. The settlement statement is primarily used to summarize the financial aspects of a real estate transaction, detailing the costs and credits for both the buyer and seller, but it does not facilitate the transfer of title for personal property. Thus, the bill of sale is the appropriate document for executing the transfer of personal property ownership.