This form is a bill of sale of an automobile. The seller(s) guarantees that the automobile is his/her/their property and is free of all claims and offsets of any kind. The bill of sale also states that the automobile is sold "as-is" without any warranties, express or implied. A separate Odometer Disclosure Statement is included with the bill of sale.
Title: Understanding Odometer Disclosure Statement Washington with Lien holder: An In-depth Explanation Description: If you're a resident of Washington state and involved in a vehicle transaction where there is outstanding financing, it's crucial to comprehend the Odometer Disclosure Statement (ODS) with lien holder. In this detailed description, we will explore the significance of the Odometer Disclosure Statement Washington with lien holder, including its purpose, requirements, and potential types. Keywords: Odometer Disclosure Statement Washington, lien holder, vehicle transaction, financing, requirements, types. 1. Purpose of the Odometer Disclosure Statement Washington with Lien holder: The Odometer Disclosure Statement with lien holder serves as a legally binding document used to disclose the accurate mileage of a vehicle at the time of a transaction where there is an existing lien or outstanding financing. This statement ensures transparency and protects both the buyer and the lien holder's interests. 2. Requirements for the Odometer Disclosure Statement Washington with Lien holder: The Washington State Department of Licensing mandates that the Odometer Disclosure Statement must be completed accurately and signed by both the seller and the lien holder. It should contain vital information such as the vehicle identification number (VIN), the current odometer reading, and the date of sale. 3. Types of Odometer Disclosure Statement Washington with Lien holder: a) Odometer Disclosure Statement with Active Lien: This type of Odometer Disclosure Statement is utilized when there is an outstanding lien on the vehicle. The lien holder's details must be included, such as the lien holder's name, contact information, and any additional instructions imposed by the lien holder regarding the transfer of ownership. b) Odometer Disclosure Statement with Release of Lien: When a lien holder has released their interest in the vehicle, the Odometer Disclosure Statement with Release of Lien should be completed. This type of statement confirms the removal of the lien and provides relevant details, such as the date and method of release. c) Odometer Disclosure Statement with Pending Lien: If a vehicle transaction takes place while a lien is pending, the Odometer Disclosure Statement with Pending Lien is used. This statement establishes the presence of an imminent lien against the vehicle, ensuring that the buyer and the lien holder are aware of the potential financial encumbrances. In conclusion, the Odometer Disclosure Statement Washington with lien holder is a vital component of vehicle transactions involving existing financing. It protects both parties involved, facilitates transparent disclosure of accurate mileage, and ensures compliance with Washington state law. Understanding the different types of Odometer Disclosure Statements respective to liens — with active liens, release of liens, and pending liens — is crucial in effectively completing and filing the appropriate documentation. Remember, it's always advisable to consult with the Washington State Department of Licensing or a professional automotive legal service provider to ensure compliance with the latest regulations and requirements surrounding Odometer Disclosure Statements in Washington.
