An odometer statement, commonly known as an MD odometer statement, is a document that verifies the mileage recorded on a motor vehicle at the time of sale or transfer. It acts as an essential tool for buyers and sellers to assist in determining the true value and condition of the vehicle. The purpose of an MD odometer statement is to prevent fraud and misrepresentation in the automotive market by ensuring that the mileage displayed on the odometer accurately reflects the actual distance the vehicle has traveled. This statement helps protect both buyers and sellers from any potential legal issues related to the accuracy of the odometer reading. There are several types of MD odometer statements that can be used depending on the specific requirements of the transaction: 1. Standard MD Odometer Statement Form: This is the most commonly used version and is widely accepted by motor vehicle agencies across different states. It includes all the necessary information, such as the vehicle identification number (VIN), make and model of the vehicle, date of sale or transfer, and the seller's and buyer's information. 2. Power of Attorney MD Odometer Statement: In some cases, if the seller is unable to be present during the sale or transfer of the vehicle, they can appoint someone else as their representative through a power of attorney. This form enables the designated representative to sign the MD odometer statement on behalf of the seller. 3. Federal MD Odometer Statement: This type of statement is required in addition to the standard MD odometer statement when the vehicle being sold or transferred is federally regulated. It complies with the regulations set by the National Highway Traffic Safety Administration (NHTSA) and offers additional protection and authenticity for both parties involved. In conclusion, an MD odometer statement is an essential document for any vehicle sale or transfer, helping ensure transparency and accuracy in the representation of a vehicle's mileage. Whether it's a standard form, a power of attorney statement, or a federal requirement, the statement serves as proof of the odometer reading and aids in preventing potential fraud.
Md Odometer Statement With Text
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Maryland Department of Transportation Motor Vehicle Administration.
This written disclosure must be signed by the transferor, including the printed name, and shall contain the following information: (1) The odometer reading at the time of the transfer (not to include tenths of miles); (2) The date of the transfer; (3) The transferor's name and current address; (3a) The transferee's ...
Describe the situation with the odometer, name the miles that are currently on the odometer; Fill the seller's section with the signature, printed name, address, and certification date; Leave the buyer's section empty for the buyer to fill.
Chapter 5: Odometer Mileage Reporting All states are required to provide an odometer disclosure section/space on complying titles or complying forms. The odometer disclosure should contain: The complete vehicle description (make, year model, body type, and vehicle identification number). The date of sale.
An odometer disclosure statement is a legal document that states the accurate mileage on a vehicle's odometer at the time of transfer from the seller to the buyer. If the seller knows that the car's mileage is incorrect, the document must contain that information.