After the sale has been completed, the seller will usually give the Title to the buyer along with writing the transaction details on the back (different laws in every State). The Title to a vehicle (See the California Sample for reference) acts like the deed to real estate and is the official record-keeper of all owners of the vehicle. To register the vehicle with your State’s Bureau or Department of Motor Vehicles (BMV / DMV) the Title is necessary. Vehicles that are either older that nine (9) years or over 16,000 pounds are exempt.Otherwise the sale is not considered valid and the State will refuse to register the automobile under the Buyer’s name.
Per federal law, all vehicles sold in the United State must have an Odometer Disclosure Statement attached to the Bill of Sale. Verbal agreements are not accepted in most States. Additional Details – If there are any additional details in regards to the purchase and sale of the vehicle it should be mentioned.Vehicle Condition – List any repairs or defects.Liens and Encumbrances – If there are any existing liens on the vehicle they should be mentioned and stated how they shall be released.Purchase Price – To be paid as a single payment, down-payment with balance to be paid later, payment with trade-in, or simple trade.Vehicle Description – Body Type, Make, Model, Year, and any other information that should be mentioned.Depending on where you live, you might need witnesses and notarization. Step 3: Sign the Bill of Sale Finally, have both parties read through the real estate bill of sale and, if everything is in order, sign the document. Buyer and Seller information – Names and Mailing Addresses. Most bills of sale record as-is transactions, where the buyer accepts the property in its current condition.To be legal, it must contain the following: Motor Vehicle Bill of Sale – Adobe PDF, Microsoft Word (.docx) By State This form is legally required to facilitate the transfer of possession and to register the vehicle. The motor vehicle bill of sale form is a written contract between a buyer and seller for the exchange of an automobile for cash, trade, or both.
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