Additional Considerations Language Requirements Filling in the form can add transparency to the transaction, giving both parties peace of mind. It officially documents ownership and transfer of the property and can serve as a receipt of the transaction, providing protections to both buyer and seller. It’s a good idea to fill out this form even when it isn’t required by state law. For most other sales between two private parties, you will not need an official bill of sale. Kentucky has unique requirements for bills of sale used for the sale of horses. The Commonwealth of Kentucky does not require a completed bill of sale to register a vehicle in most cases. PandaDoc documents allow users to gather legal digital signatures. Signatures can be made in person or digitally, through a certified digital signature provider. Certification/Signature: The buyer and seller must sign and date the bill of sale to finalize the transaction.This rule of thumb mostly applies to vehicles and other large purchases. Gift: When a property is gifted, there can be tax implications for the buyer in the following year.As-Is: When a buyer agrees to purchase an item “as-is,” they agree to purchase the property in its current state at the time of sale with no guarantee or warranty.Witness Information: This section includes information about any witnesses to the signing of the bill of sale.This is where the make, model, year, VIN, odometer reading, and other identifying information are listed for vehicles. Property: This section describes the property being transferred and any special conditions that apply.This number is often printed inside the door frame, although the location can vary depending on when a vehicle was made. VIN: A unique identification number assigned to a motor vehicle when it is manufactured.Buyer: The contact information, such as name and address, of the person receiving ownership of the sold property.Seller: The contact information, such as name and address, of the person or party transferring ownership of a property in exchange for some value.Property Location: This section lists the address or other coordinates of the property being sold on a bill of sale.SEE ALSO: HOW TO GET A DUPLICATE TITLE OR TITLE REPLACEMENT IN NYĪs mentioned above, the seller will complete the Statement of Transaction document, listing the purchase price which will determine the vehicle’s sales tax. Make sure the seller completes all the info needed, and you, the buyer, sign the title. If you’re the vehicle buyer, make sure all info is 100% accurate on titleįor a used vehicle bought from a private seller, your proof of ownership is the certificate of title (MV-999) or a transferable registration for 1972 vehicles or older models. The Damage Disclosure Statement for all vehicles, no matter how old, has to be completed too You’ll find in the back of the certificate of title. If your car, truck, or motorcycle is older than 10 years old, then you need to complete the Odometer disclosure Statement when you sell. In this case, you have to apply for a title certificate only in order to transfer ownership to next person. If you’re the seller, but the title was transferred to you by another person (another private seller), then you can’t use it in your next transfer of ownership…to your new buyer. If you’re not the original owner of the vehicle, but have the title If the vehicle is being gifted, you the seller, has to sign Section 6 on of a Statement of Transaction-Sale or Gift of Motor Vehicle, Trailer, ATV, Vessel, or Snowmobile. Please note that if it’s an out-of-state original certificate of title and not a NY one, the transfer section must be notarized if the proof of ownership is a Certificate of Title from Alaska, Arizona, Hawaii, Kentucky Louisiana, Mississippi, Montana, Nevada, North Carolina, Ohio, Oklahoma, Pennsylvania, Washington, Wyoming, or Puerto Rico.Īre you gifting the vehicle, instead of selling it? If the original title was lost or stolen, or if you have satisfied a lien on the title then you have to order a replacement title The NY DMV doesn’t accept certified copies of the title. You also have to record the buyer’s name. If now you’d like to sell you vehicle, then you have to complete and sign the transfer ownership section of that title certificate as well as a bill of sale (even if it’s a gift). When you first bought your vehicle, and registered it, you applied for a certificate of title with the NY DMV by using a Vehicle Registration/Title Application (MV-82) for proof of ownership. If you’re the vehicle seller, and you have the original NY title New York States issues titles (MV-999) for motor vehicle model year 1973 and newer, but not titles for vehicles from 1972 and older, travel or utility trailers weighing less than 1,000 lbs or limited use motorcycle like a moped.
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