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.
Little Rock Arkansas Bill of Sale of Automobile and Odometer Statement for As-Is Sale: A Comprehensive Guide The Little Rock Arkansas Bill of Sale of Automobile and Odometer Statement for As-Is Sale is a legal document that serves as proof of the transfer of ownership of a vehicle in the city of Little Rock, Arkansas. It includes vital information about the buyer, seller, and the vehicle being sold. This bill of sale is particularly crucial for buyers and sellers engaging in an "As-Is" sale, which means the vehicle is being sold without any warranties or guarantees. It protects both parties by clearly stating that the seller does not assume any responsibility for the condition of the vehicle after the sale. Keywords: Little Rock Arkansas, Bill of Sale, Automobile, Odometer Statement, As-Is Sale Types of Little Rock Arkansas Bill of Sale of Automobile and Odometer Statement 1. Basic Bill of Sale: This type of bill of sale includes essential details such as the names and addresses of the buyer and seller, vehicle description (make, model, year, VIN), sale price, and date of sale. It provides a basic framework for the transaction. 2. As-Is Sale Clause: This version of the bill of sale includes an explicit statement that the vehicle is being sold "As-Is," which means the seller does not provide any warranties or guarantees. It ensures both parties are aware of the vehicle's condition and eliminates potential disputes in the future. 3. Odometer Disclosure Statement: In compliance with federal law, this statement requires the seller to disclose the accurate mileage of the vehicle at the time of sale. It helps prevent odometer fraud, ensuring the buyer has an accurate representation of the vehicle's usage. 4. Notary Acknowledgment: Some buyers and sellers may require a notary acknowledgment on their bill of sale. This adds an extra layer of authentication and prevents any potential disputes regarding the validity of the document. 5. Vehicle Identification Number (VIN) Verification: This version of the bill of sale includes a section for the buyer and seller to verify the Vehicle Identification Number (VIN) to ensure there are no errors or discrepancies in the vehicle's identification. 6. Multiple Owners: If the vehicle is jointly owned by multiple individuals, a bill of sale with sections to record the information of all owners may be necessary. This eliminates any confusion regarding ownership rights and responsibilities. 7. Loan Payoff Statement: In cases where the vehicle is being sold with an outstanding loan, this bill of sale includes a section to acknowledge the loan payoff. It documents the agreement between the buyer, seller, and the lien holder, ensuring a smooth transfer of ownership. In conclusion, the Little Rock Arkansas Bill of Sale of Automobile and Odometer Statement for As-Is Sale is a crucial document in the vehicle buying and selling process. Its various types accommodate different requirements and ensure a transparent and lawful transaction for all parties involved.
