Michigan Automobile Bill Of Sale With Lien
Description
How to fill out Michigan Automobile Bill Of Sale With Lien?
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FAQ
The State of Michigan requires a bill of sale, among other documentation, upon transferring a vehicle's title and registration from a previous owner to a new one. The form stipulates the vehicle's purchase price, condition, and any additional terms set by the agreeing parties.
If you choose to fill out a bill of sale, the following information is needed:A description of the vehicle (make, model, year)Vehicle identification number (VIN)Warranty information.Final sale price.Names of the buyer and seller.The county and state where the vehicle was bought or sold.
If you already have the title and need to add a lien, you need to follow the lien filing guidelines issued by your state.Go to the Department of Motor Vehicles (DMV) location or the state authority that issues vehicle titles.Obtain a title application.Give the application and the title to the clerk.
If there is a lien it must be released by the lienholder in the appropriate signature space, or you may attach a lien termination statement from the financial institution. Have the buyer enter their name, address, and signature in the buyer's section of the title assignment. Do not make any changes on the title.
Selling a vehicleLocate the vehicle title.Any loans on the vehicle must be paid in full before the title can be transferred.Fill in the seller's portion of the title, including the odometer mileage, the date of the sale and the vehicle's selling price.Sign your name.More items...