Kansas Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note
What is this form?
The Bill of Sale for Automobile or Vehicle, including Odometer Statement and Promissory Note, is a comprehensive document used to legally transfer ownership of a vehicle. This form package not only includes the bill of sale but also an odometer statement and a promissory note, making it suitable for transactions involving down payments and balance payments over time. Unlike a simple bill of sale, this form package provides essential details for both the buyer and seller to formalize the sale and protect their interests.
Form components explained
- Bill of Sale: Details the transaction, including buyer and seller information, purchase price, and vehicle details.
- Odometer Statement: Certifies the current mileage of the vehicle and discloses any discrepancies.
- Promissory Note: Outlines the terms of payment, including down payment and any ongoing payments, and specifies conditions for default.
- Signatures: Requires signatures of both buyer(s) and seller(s) for legal validity.
- Notarization section: Provides a space for notarizing the document, if necessary.
When to use this document
This form is used in scenarios where an individual is selling or buying a motor vehicle and part of the payment will be made over time, rather than in full upfront. It is particularly useful if the buyer is making a down payment and agrees to pay the balance later, ensuring that the seller retains certain rights over the vehicle until full payment is received.
Who can use this document
This form is designed for:
- Individuals buying or selling an automobile where payment is made over time.
- Buyers looking to formalize a purchase with a down payment.
- Sellers who wish to secure their interests through a promissory note.
- Anyone who needs to provide an odometer disclosure upon the sale of a vehicle.
How to complete this form
- Identify the parties: Enter the full names of the buyer(s) and seller(s).
- Specify the vehicle: Fill in details such as make, model, year, body type, and VIN.
- Complete the financial sections: State the purchase price, down payment amount, and terms of the promissory note.
- Sign the document: Both the buyer(s) and seller(s) must sign the bill of sale to make it legally binding.
- Notarize if necessary: If required, have the document notarized to ensure its legal validity.
Is notarization required?
This document requires notarization to meet legal standards. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available 24/7.
Common mistakes
- Failing to accurately disclose the odometer reading, which can lead to legal problems.
- Not completing the promissory note section, which may leave payment terms unclear.
- Omitting signatures from one or more parties, invalidating the form.
- Not notarizing the document when required by state law.
Why complete this form online
- Convenience: Download the form instantly from anywhere, at any time.
- Editability: Customize the form fields easily to suit your transaction needs.
- Reliability: Access a legally vetted document created by licensed attorneys.
Jurisdiction-specific notes
This form is compliant with the legal standards of Kansas, which specifies the necessity of an odometer statement alongside the bill of sale for vehicle transfers. It includes the required notarization section to enhance legal enforceability.
Summary of main points
- The Bill of Sale for Automobile or Vehicle is essential for properly transferring vehicle ownership.
- It includes critical documents like the odometer statement and promissory note.
- Accurate completion of all sections is crucial for legal protection and clarity in the transaction.
Form popularity
FAQ
Year, Make, and Model. Vehicle Identification Number (VIN) Date of Transaction (Sale Date) Sale Price. Names/Addresses/Signatures of both Buyer and Seller.
Certificate of Title. Lien Release, if applicable (form TR-150) Seller's Notification of Sale (form TR-216)
Required vehicle information to be presented to County Treasurer's Office: The title for the vehicle with the assignment completed to the new owner. The back of title must be completed with purchase price, date of sale, odometer reading, as well as the print and signatures of seller(s) and buyer(s) name.
Alabama. Arkansas. Colorado. Connecticut. Hawaii. Idaho. Maine. Nebraska.
You'll need to complete the Title and Registration Manual Application. You'll need to bring these documents and payment for the registration and transfer fees to your local DOR office. Title transfer costs $10. Registration costs between $20 and $45 depending on the vehicle.
An original copy of a sales contract, or proof of purchase, which could be a letter, bill of sale, receipt, or tax invoice, showing the seller's details, the buyer's details, the date of the sale, the selling price or market value of the car, whichever is higher, and the car's registration and VIN numbers.
In general, Kansas does not require bills of sale, title assignments, and applications to be notarized. However, it has the right to request notarization in unusual circumstances, such as if document information is incomplete or questionable.