An Automobile Bill of Sale is necessary if you want to sell an automobile. Whether youâ€’re selling a car, van, truck, trailer or motorcycle, an Automobile Bill of Sale indicates the make, model, year, mileage, and vehicle identification number (VIN) of the vehicle. This packet also includes an Odometer Disclosure Statement because federal law requires that you state the mileage upon transfer of ownership. An Automobile Bill of Sale will help both the Seller and Buyer protect their rights and is useful both for tax and other accounting purposes as well. An Automobile / Vehicle Bill of Sale can also help the Buyer prove that he/she owns the vehicle. Important provisions included in this Automobile / Vehicle Bill of Sale:
- Sum paid: This provision states the amount paid for the vehicle. This helps the buyer prove that valuable consideration was paid for the vehicle.
- Seller’s and buyer’s name / address: This provision identifies the parties to this sale; so that should a dispute arise, the parties can be found.
- Make/ Model/ Year/ Mileage/ Vehicle identification number: To identify the vehicle being sold.
- Ownership Covenant: Seller warrants to buyer that Seller is true owner of vehicle and has right to sell vehicle.
- Encumbrance Covenant: Seller warrants that vehicle is free from any lien, security interest or other encumbrance
- Defend Covenant: Seller will defend vehicle against any claims or demands.
This attorney-prepared packet includes:
- Instructions and checklist for Automobile / Vehicle Bill of Sale
- Information for Automobile / Vehicle Bill of Sale
- Automobile / Vehicle Bill of Sale
- Odometer Disclosure Statement