This Bill of Sale of Automobile contains the following information: the make/model of the car, VIN number and other information. Seller guarantees that the property is his/her own and is free of all claims and offsets of any kind. The form also contains the Odometer Disclosure Statement required by Federal Law and State Law, where applicable, which must be signed in the presence of a notary public.
Title: Understanding the Michigan Odometer Statement: Types and Importance Keywords: Michigan, odometer statement, mileage disclosure, vehicle history, tampering, vehicle title, fraudulent practices Introduction: The Michigan odometer statement, also known as the mileage disclosure, is a crucial document required during the sale or transfer of a motor vehicle. This detailed description aims to provide an in-depth understanding of the Michigan odometer statement, its importance, and any different types that may exist. 1. Michigan Odometer Statement Overview: The Michigan odometer statement serves as an official declaration of a vehicle's mileage at the time of sale or transfer. It confirms the accuracy of the displayed mileage on the vehicle's odometer and ensures transparency in the transaction. Both the buyer and seller are legally obligated to complete this statement. 2. Importance of the Odometer Statement: The odometer statement plays a significant role in protecting buyers from odometer tampering and fraudulent practices. By providing an accurate mileage disclosure, it offers potential buyers a fair understanding of a vehicle's history, maintenance, and potential wear and tear. It assists in determining the vehicle's value, reliability, and potential future repairs. 3. Standard Michigan Odometer Statement: The standard Michigan odometer statement requires both the buyer and seller to provide their names, addresses, dates of sale or transfer, vehicle identification number (VIN), and the odometer reading at the time of sale. This statement must be signed and dated by both parties involved. 4. Separate Odometer Statement for Older Vehicles: In certain cases, older vehicles (over 10 years old) may have separate odometer statements. These statements might incorporate additional information or declarations related to the vehicle's condition, known defects, or past repairs, in addition to the mileage disclosure. 5. Reporting Odometer Discrepancies: If the odometer reading differs from the actual mileage, it is crucial to contact the Michigan Secretary of State's Office to report the discrepancy. This helps prevent potential fraud or misleading information and ensures accurate record-keeping. Conclusion: The Michigan odometer statement is a critical document that protects both buyers and sellers during vehicle transactions. It serves as an important tool in preventing odometer tampering and ensuring transparency in vehicle sales. By accurately disclosing mileage, buyers can make informed decisions, and sellers can maintain integrity in their dealings. Compliance with the Michigan odometer statement is paramount to a fair and trustworthy vehicle transfer process.
