Auto Bill Of Sale Illinois With Payment

State:
Illinois
Control #:
IL-00431-C
Format:
Word; 
Rich Text
Instant download

Description

The Auto Bill of Sale Illinois with Payment is a crucial legal document designed for the sale of motor vehicles in Illinois. This form captures essential details such as the purchase price, buyer and seller information, and vehicle specifics including make, model, year, and VIN. A notable feature is the inclusion of a Promissory Note which outlines the payment arrangement between the buyer and seller, specifying amounts, interest rates, and payment schedules. Furthermore, it mandates an Odometer Disclosure Statement to ensure transparency regarding the vehicle's mileage at the time of sale. This form serves various target audiences including attorneys, partners, owners, associates, paralegals, and legal assistants. They can utilize it to facilitate transactions with confidence, ensuring compliance with state laws. It's also beneficial for parties involved in financing vehicle purchases via seller retainment clauses, safeguarding interests until full payment is received. Buyers can refer to this bill of sale to confirm ownership and encumbrances, while sellers can utilize it to demonstrate legal compliance and assure buyers of vehicle authenticity.
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  • Preview Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note
  • Preview Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note
  • Preview Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note

How to fill out Illinois Bill Of Sale For Automobile Or Vehicle Including Odometer Statement And Promissory Note?

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FAQ

Evidence of your right to acquire a title, such as a bill of sale, receipt or canceled check. If evidence of your ownership is not available, a notarized statement explaining how you came into possession of the vehicle is needed.

A bill of sale should include the name, address, and driver's license numbers of both the buyer and the seller, along with the signatures of both parties. This document should also include essential information about the vehicle, including the make, model, year, VIN, color, and current mileage at the time of sale.

Do I need to have my vehicle bill of sale notarized in Illinois? No, having a vehicle bill of sale notarized in Illinois is not required. However, notarizing it can provide extra legal protection for both the buyer and the seller.

Complete and mail the Notice of Sale form (attached to the bottom of the title) to the Secretary of State's office. If the title does not contain a Notice of Sale form, it may be down- loaded at ilsos.gov. Request the buyer's name and address in case there are title or registration problems after the sale.

To obtain a title for a vehicle without the proper surrender documents, the following items must be submitted to the Secretary of State's office: 1. Evidence of your right to acquire a title, such as a bill of sale, receipt or canceled check.

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Auto Bill Of Sale Illinois With Payment