The seller agrees to sell to the purchaser certain items of personal property. The seller warrants that the property is free from all claims and offsets of any kind.
Bill Of Sale With Lien
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How to fill out Simple Bill Of Sale?
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FAQ
Paperwork Required to Sell a Car in Ontario People that still have a lien will need to tell the holder about the sale. You must pay the amount you owe before the title is given to the new owner. If you've misplaced your title can ask your local authorities to purchase another title.
The seller must have a notarized paid receipt (lien release) from the lienholder describing the vehicle, the name of the seller and the date and amount of the lien. The seller must give you the original paid receipt along with the title.
Finally, if your car is under a lien or the lienholder's name is still on the title, you'll need to have a signed and notarized release. Also, the lienholder will need to sign any transfer document, such as a form REG 227.
It's not illegal to sell a car with a lien, and there are no penalties for doing so, provided it is handled correctly. There's one major requirement; you must pay off the loan in full and have the lien removed from the title before you can legally sell it to another buyer.
Yes, Indiana requires a bill of sale for private party vehicle transactions. Form 44237 is what you need, and it requires signatures from both the buyer and the seller.
