This form is a bill of sale of an automobile. The seller(s) guarantees that the automobile is his/her/their property and is free of all claims and offsets of any kind. The bill of sale also states that the automobile is sold "as-is" without any warranties, express or implied. A separate Odometer Disclosure Statement is included with the bill of sale.
Keywords: Arkansas federal odometer statement, multiple conditions, types Description: The Arkansas Federal Odometer Statement with Multiple Conditions is a legal document used by individuals or entities to accurately record and disclose the mileage or distance traveled by a motor vehicle in the state of Arkansas. This statement is of utmost importance during the sale or transfer of a vehicle, as it helps both the buyer and seller ensure transparency and honesty in matters concerning the vehicle's mileage. Under Arkansas law, there are various types of federal odometer statements, each serving a specific purpose depending on the situation or conditions surrounding the vehicle's history. These include: 1. Standard Arkansas Federal Odometer Statement: This is the most common form used when there are no exceptional circumstances or additional conditions to be mentioned. It requires the disclosure of the exact mileage displayed on the vehicle's odometer at the time of sale or transfer. 2. Arkansas Federal Odometer Statement with Rebuilt Title: In cases where the vehicle has undergone significant repairs, alterations, or modifications to the extent that it has been declared a "rebuilt" or "salvage" title, this specific form is required. Apart from disclosing the mileage, it also includes details about the rebuild or salvage status. 3. Arkansas Federal Odometer Statement with Exempt Status: This statement is used when the vehicle falls under a category exempt from mileage disclosure requirements. Generally, this applies to vehicles that are over ten years old or have a gross vehicle weight rating (OVER) exceeding 16,000 pounds. 4. Arkansas Federal Odometer Statement with Mileage Discrepancy: In instances where there is a significant discrepancy or inconsistency in the mileage records of a vehicle, this form must be utilized. It covers situations where mileage has been rolled back, altered, or misrepresented deliberately. Regardless of the type of Arkansas Federal Odometer Statement used, it is crucial to provide accurate and authentic information to protect both buyers and sellers from potential fraud or misrepresentation. Falsifying the odometer statement is illegal and can result in severe penalties under Arkansas state law. Therefore, it is highly recommended consulting with legal professionals or refer to the official Arkansas government websites for the most up-to-date and accurate information on required federal odometer statements in various situations.
