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.
An Indiana odometer statement with lien is a legal document that is used during the sale of a vehicle in the state of Indiana. It serves as proof of the vehicle's mileage at the time of sale and any existing liens on the vehicle. The primary purpose of an odometer statement with lien is to protect both the buyer and the seller by ensuring accurate disclosure of the vehicle's mileage and any financial obligations on the vehicle. This statement is required by the Indiana Bureau of Motor Vehicles (BMV) and must be completed whenever a vehicle is sold or transferred ownership. There are two different types of Indiana odometer statements with lien: 1. Odometer Disclosure Statement with Lien: This statement is used when there is an outstanding lien on the vehicle. It requires the seller to disclose the current mileage of the vehicle, indicate if the mileage on the odometer is accurate or not, and provide information about the lien holder. The lien holder's information includes their name, address, and the date the lien was created. 2. Odometer Disclosure Statement with Release of Lien: This statement is used when the seller has paid off their vehicle's lien and wishes to transfer ownership without any remaining financial obligations. It requires the same information as the statement with lien, including the vehicle's mileage, accuracy of the odometer reading, and details of the lien holder. However, in this case, the lien holder's information will also include the date the lien was released. When completing an Indiana odometer statement with lien, both the seller and the buyer must sign it, certifying that the information provided is accurate to the best of their knowledge. This statement must be notarized to be legally valid. It's important to note that falsifying information on an odometer statement with lien is a serious offense and is punishable by law. Therefore, both parties involved in the sale or transfer of a vehicle in Indiana must ensure complete accuracy when completing this document. Overall, an Indiana odometer statement with lien is a crucial document in the vehicle sales process. It helps protect the buyer from purchasing a vehicle with incorrect mileage or undisclosed financial obligations and safeguards the seller by providing a legal record of the transaction.
