How do I sell a tractor I don't own???

[Ronski]

Now that I have your attention, about 10 years ago my Grandfather sold his farm and moved to town. After his auction sale he bought a new 85 hp loader tractor for my mom to use to clear snow (which translates to me cause my mom was 65 and had never driven a pickup let alone...).

I have since bought moms farmsite and it included the tractor. I am looking at buying a different tractor (larger, cab etc.) but how do I sell this thing?

It was never financed, bought by cheque, never been depreciated by anybody and I've insured it since day 1 with grandpa as the benificiary if I burn it down. But how do I sell it without charging GST and if it shows up on a trade-in bill of sale how does the tax department see it?

What are your thoughts? I'll leave this here for a week then move it to commodity marketing where everybody hangs out LOL.

[theplowboy]

Good question.
I guess to some one you know well who does not need all of the paperwork.

[Ronski]

Decided to keep it. Its not worth much to sell and its so small its perfect for moving augers etc.

[FarmRanger]

If you have a bill of sale for the farmsite that specifically says that the tractor is included, you have a bill of sale. If no $ amount is specifically listed for the tractor, you could check and document what other tractors that age and hours were selling for at that time. You would be able to justify that value as your initial capital purchase price to an auditor.

[Hopperbin]

If its not worth much then getting the cash and skipping the country and moving to Mexico is not an option.