North Carolina Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note
Definition and meaning
The North Carolina Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note is a legal document that serves as proof of the sale of a motor vehicle between a seller and a buyer. This document details the terms of the sale, including the purchase price and any outstanding loans related to the vehicle, along with an odometer disclosure statement that records the mileage at the time of transfer.
Key components of the form
This bill of sale includes several crucial elements necessary for a valid transaction:
- Purchase Price: The total amount paid for the vehicle.
- Buyer and Seller Information: Names and addresses of both parties involved in the transaction.
- Vehicle Details: Information about the vehicle, including make, model, year, and Vehicle Identification Number (VIN).
- Odometer Disclosure: A statement confirming the vehicle's mileage at the time of sale, including options for discrepancies.
- Promissory Note: An agreement if part of the purchase price is financed, detailing repayment terms.
Who should use this form
This form should be used by individuals or entities involved in the sale or purchase of an automobile in North Carolina. It is particularly useful for private sales where no dealership is involved, ensuring that both seller and buyer have documented proof of the transaction.
How to complete a form
To complete the North Carolina Bill of Sale:
- Fill in the purchase price of the vehicle clearly.
- Provide the full names and addresses of both the buyer and seller.
- Include detailed information about the vehicle, such as make, model, year, and VIN.
- Complete the odometer disclosure section accurately, making sure to select the appropriate statement regarding the mileage.
- If financing the vehicle, fill out the promissory note section, detailing payment amounts, frequency, and terms.
Ensure that both parties sign and date the document in the designated areas. It may be required to have a notary public sign the form for it to be legally valid.
Benefits of using this form online
Utilizing this form online offers several advantages:
- Convenience: Access the form at any time from the comfort of your home.
- Time-saving: Download and print the form instantly without waiting for postal delivery.
- Expert Drafting: Forms are drafted by licensed attorneys, ensuring legality and compliance with state laws.
- Easy Updates: Online forms are frequently updated to reflect any changes in legal requirements.
What documents you may need alongside this one
When completing a bill of sale, you may also require the following documents:
- Title of the Vehicle: To confirm ownership and transfer the title to the buyer.
- Previous Registration: To verify the vehicle's history.
- Notarized Identity Documents: May be requested for the identities of both parties involved in the transaction.
- Proof of Insurance: May be needed for vehicle financing or registration purposes.
Form popularity
FAQ
The date of the sale. A description of the car, including its: Year, make and model. The selling price of the car. If the car is a gift or partial gift, you should still create a bill of sale. Warranty information. The full names, addresses and signatures of the buyer and seller.
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.
When writing a bill of sale, make sure it contains: the seller's name and address, the buyer's name and address, a description of the item being sold and if it's for a vehicle make sure to include, the vehicle identification number, the date of transaction, the previous owner, the amount paid, the method of payment and
The bill of sale must be notarized by a notary public and include identifying information about the vessel, information about the buyer and seller, the date of the transaction, and the sale price.
The full names and contact information of the buyer and seller. A statement that transfers ownership of the item from the seller to the buyer. A complete description of the item being purchased. A clause indicating the item is sold "as-is"
You not need both parties to be physically present at the time of notarization, but you can only notarize for the person who is appearing before you. The other person can have their signature notarized at another time. Kelle Clarke is a Contributing Editor with the National Notary Association.
Alabama. Arkansas. Colorado. Connecticut. Hawaii. Idaho. Maine. Nebraska.
Buyer's and seller's name, address, and driver's license number. Description of the firearm. Serial number of the firearm. Date of the transaction. Purchase price. Signatures of buyer and seller.