An Auto Bill of Sale document transfers of interest in an automobile from a private Seller to the Buyer. Bill of sale form records a purchase - sale transfer of vehicle, automobile, car, auto
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Federal and State laws require the seller of the used vehicle to certify the odometer mileage of a car. Seller have to deliver the title to a Buyer. Bill of Sale is not an acceptable proof of ownership without other proofs |
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WHAT YOU SHOULD KNOW ABOUT SELLING / BUYING YOUR CAR An Auto Bill of Sale documents transfer of interest in an automobile from a private Seller to the Buyer.It also provides proof that the purchaser paid a certain amount of money for the vehicle, and that the seller received it. Having this contract in writing may allow you to avoid a potential lawsuit for breach of an oral agreement, as long as all terms between the seller and the buyer are written down and signed by both parties. Title Transfer: Federal Law requires the Seller to deliver the title to the Buyer. A Seller who is delivering the title to the Buyer must sign it in the reassignment portion on the title, releasing interest in the vehicle. If the title transfer is not taking place in a DMV Office, an individual should complete the notice of transfer (located at the very bottom of the title). This portion by itself does not transfer the title; however it notifies the DMV of a transfer pending and the DMV will not renew the registration in the current owner's name until the transfer has taken place. The new owner must give the original Bill of Sale to the DMV with the other acceptable proofs of ownership required. A Bill of Sale is not an acceptable proof of ownership without other proofs. The acceptable proof of ownership is a title certificate from any state. If the vehicle is transferred as a gift, indicate this on the Bill of Sale and indicate that the purchase price is $0. Make sure that the information listed on the title certificate is not altered, erased or changed. If any information is altered, erased or changed, the current owner must get a duplicate title certificate and use the duplicate to transfer the ownership to you. Odometer Disclosure Statement: Federal and State laws require the seller of the used vehicle to certify the odometer mileage of a vehicle that is less than ten years old. If you fail to release the odometer reading or issue a false statement fines and even imprisonment may be applied. You do not need an odometer disclosure statement if your car is:
Please note that the seller and the buyer must both sign the odometer statement. Please note that different states have different rules as to when the transfer fees are due. In many states penalties are assessed if payment is not received by DMV within 30 days of the "sale.", or even earlier. 
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To better understand Bill of Sale related issues the following related information may be of interest to you.
 Understanding the Bill of Sale When could a Bill of Sale be useful for you?
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