Maryland Odometer Statement With Lienholder

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

Description

The Maryland odometer statement with lienholder is a crucial legal document used during the transfer of ownership of a motor vehicle. This form captures the vehicle's mileage at the time of sale and confirms the seller's ownership while disclosing any existing liens. Key features include sections for the seller's and buyer's information, vehicle details such as make, model, and VIN, as well as space to indicate any odometer discrepancies. Users must fill out the form accurately and ensure it is notarized to comply with state and federal regulations. The primary audience for this form includes attorneys, partners, owners, associates, paralegals, and legal assistants, who may utilize it for drafting or processing sales agreements effectively. Attorneys and legal professionals can assist clients in completing the form to meet legal standards, while paralegals and assistants may support them by ensuring all necessary information is provided and accurate. This form is particularly useful in real estate transactions where vehicles are sold alongside property, ensuring clarity and legal protection for all parties involved.
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  • Preview Bill of Sale of Automobile and Odometer Statement
  • Preview Bill of Sale of Automobile and Odometer Statement

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 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.

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.

The title is issued by the Maryland MVA at the time the vehicle is sold, and the process will be dealt with by your dealership on your behalf. However, if you took out a loan to pay for the car, then the title will be held by the lender until you've paid it off in full.

To complete the Maryland car title transfer form, you will need to provide the following info: Name and address of the buyer and current car owner. Date of sale. Car mileage, condition, and purchase price. Odometer reading. Completed a bill of sale. Completed Certificate of Title (VR-005) Government-issued photo ID.

There are only nine title-holding states: Kentucky, Maryland, Michigan, Minnesota, Missouri, Montana, New York, Oklahoma, Wisconsin. In the other 41 states, titles are issued to the lien holder of your vehicle until the loan is fully paid off.

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Maryland Odometer Statement With Lienholder