North Carolina Bill of Sale of Automobile and Odometer Statement
What this document covers
The Bill of Sale of Automobile is a legal document used to transfer ownership of a motor vehicle from a seller to a buyer. This form serves to provide essential details about the automobile, including its make, model, and vehicle identification number (VIN). Unlike other sales forms, this bill of sale also includes an odometer disclosure statement required by federal and state law, ensuring the buyer is informed about the vehicle's mileage at the time of sale.
Form components explained
- Seller and Buyer Information: Names and signatures of both parties involved in the transaction.
- Vehicle Details: Make, model, body type, VIN, and year of the automobile.
- Sale Price: The agreed-upon amount for the sale of the vehicle.
- Odometer Disclosure Statement: A declaration of the vehicle's mileage, stating whether it is actual, exceeds mechanical limits, or if there is a discrepancy.
- Guarantee of Ownership: Assurance from the seller that they own the vehicle and it is free of liens and claims.
When to use this form
This form should be used during the sale of a motor vehicle to document the transaction between the seller and the buyer. It is essential when transferring ownership to ensure both parties are protected legally, especially if the vehicle has a lien or if any claims could potentially arise after the sale. Using this form is valuable for private sales, dealership transactions, or when transferring vehicles as gifts.
Who should use this form
- Individuals selling their personal vehicles.
- Buyers purchasing used cars from private sellers.
- Dealers facilitating sales between individuals.
- Anyone needing to document a vehicle sale for legal reasons.
How to complete this form
- Identify the parties: Enter the names of both the seller and the buyer at the top of the form.
- Specify the property: Fill in the details of the vehicle including its make, model, body type, VIN, and year.
- Enter the sale price: State the amount agreed upon by both parties for the sale of the vehicle.
- Complete the odometer disclosure: Record the odometer reading and check the appropriate statement regarding its accuracy.
- Sign and notarize: Both the seller and buyer must sign the document in the presence of a notary public to validate the transaction.
Notarization requirements for this form
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
Typical mistakes to avoid
- Failing to sign the document in front of a notary public.
- Not accurately reporting the vehicle's odometer reading.
- Leaving out vehicle details such as the VIN or model year.
- Not specifying any existing liens on the vehicle.
Advantages of online completion
- Convenience: Easily access and download the form from anywhere.
- Editability: Fill in the form electronically to ensure accuracy.
- Trustworthiness: Forms are drafted by licensed attorneys to ensure legal compliance.
- Time-saving: Complete your transaction quickly without the need for in-person visits to legal offices.
Form popularity
FAQ
You might be eligible for a NC Bonded Title in, but not limited to, any of these instances: You bought/received a car and never received the title. You bought/received a car and only received a bill of sale.You bought/received a car, received the title, but lost it before transferring it into your name
Many states require a DMV bill of sale document when titling and registering a vehicle in the state, but the NCDMV only requires this document when titling an automobile that was purchased from a dealership.The seller must warrant that the vehicle is free of any encumbrances or liens.
It means that it's exempt from federal odometer disclosure laws so no one has to legally guarantee them to be accurate due to the age and or class of vehicle, Over 10 years old is exempt.
The Federal odometer law, 49 U.S.C.If the odometer mileage is incorrect, the law requires a statement to that effect to be furnished on the title to the buyer. However, vehicles ten years old and older are exempt from the written disclosure requirements.
Typically, the Purchaser does not need to sign the Bill of Sale. However, some jurisdictions will require the Purchaser to sign the Bill of Sale for some or all forms of transactions. You should check your local laws to verify whether the Purchaser's signature is required for your specific sale.
A bill of sale is only legally required in North Carolina when you purchase your vehicle from a car dealership.Your bill of sale will also be needed when you go to title your vehicle, or if the vehicle's ownership becomes part of a trust.
In the State of North Carolina, a Bill of Sale Form is required when you purchase a vehicle from a dealership so make sure the dealership provides you with this form. In private vehicle transactions a Bill of Sale Form is not required in North Carolina.
A valid and current proof of identification. Current maintenance and vehicle records. The vehicle's original or replacement title. Lien Release, if liens are shown on the vehicle title. Odometer Disclosure Statement form MVR-180.
