Maryland Odometer Statement With Lien

State:
Maryland
Control #:
MD-00431
Format:
Word; 
Rich Text
Instant download

Description

The Maryland odometer statement with lien is a critical document used during the sale or transfer of a motor vehicle in Maryland. This form ensures that both the buyer and seller understand the vehicle's mileage, verifying its authenticity to prevent fraud. Key features of the form include sections for the seller's and buyer's information, vehicle details including make, model, and vehicle identification number, as well as the odometer reading. Additionally, it specifies if any liens exist on the vehicle, providing protection for the buyer against undisclosed encumbrances. Filling out the form requires clarity; it must be signed by both parties and notarized for validity. Editing should be done carefully to avoid errors, as inaccuracies can lead to legal ramifications under both federal and state law. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in vehicle transactions, as it standardizes the process and provides legal assurance regarding the vehicle's sale. It serves to protect the interests of all parties involved by creating a clear record of odometer readings during ownership transfers.
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How to fill out Maryland Bill Of Sale Of Automobile And Odometer Statement?

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Bill of Sale

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FAQ

The most important document when selling a car is the certificate of title. If there is a lien on the title, the lienholder must release interest in the vehicle before the car is sold. This can be achieved either by the seller paying off the car or by the lienholder providing a letter of lien release.

You may apply for a clear title in person at any of the MVA's full-service branch offices or by mail to the MVA's title file unit. You must submit the Maryland Notice of Security Interest Filing (SIF) and/or the lien release letter you received, plus the current title for your vehicle.

A lien may be placed on a new vehicle or a newly acquired used vehicle at the time of titling. The Appli?cation for Maryland Certificate of Title form (VR-005) or the application on the reverse of the Maryland title must be completed to include the required lien information.

A DUPLICATE TITLE MAY BE REQUESTED: Online through the MVA's website at .mva.maryland.gov. Duplicate titles ordered online may be mailed to an alternate address at the owner's request. Mailing instructions are provided in the online application.

The seller must sign and print his or her name and the buyer's name and address on the back of the ?Certificate of Title? under the ?Assignment of Ownership? section. The buyer's name and address must be recorded in the ?Assignment of Ownership? section to complete the sale.

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Maryland Odometer Statement With Lien