This forms package contains a Bill of Sale, Odometer Statement and Promissory Note. It is for the situation where the Buyer may be making a downpayment and paying the balance over time.
Tn Odometer Statement For Lease Buyout Nissan
State:
Tennessee
Control #:
TN-00431-C
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Tennessee Bill Of Sale For Automobile Or Vehicle Including Odometer Statement And Promissory Note?
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FAQ
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.
Federal and State law require that the seller states the mileage in connection with the transfer of ownership. Failure to complete the odometer statement, or providing a false statement, may result in fines and/or imprisonment.
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.
Odometer Fraud Laws Committing odometer fraud is a crime. The federal government passed a law that requires a written disclosure of the mileage registered on an odometer be provided on the title by the seller to the purchaser when the ownership of a vehicle is transferred.
PURPOSE: Federal and state law require both seller (transferor) and buyer (transferee) to accurately state the mileage of any used motor vehicle, with a manufacture year of 2011 or newer, in connection with the transfer of ownership whether sale, trade-in or exchange.