This document has to provide information regarding the vehicle, the buyer, the seller and lastly the change of ownership details. This document is not mandatory to be notarized as per the laws of the state of Oregon. This bill also includes the cost of the vehicle, the addresses of the buyer and the seller, the VIN along with the make and model of the vehicle. It is mandatory for both the buyer and seller of a car to keep one copy of this document in their records as it will provide ample evidence of the car having changed ownership.
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A properly completed vehicle bill of sale form may prove useful in a number of different situations and vehicle-related procedures. This credential is an acceptable proof of ownership when registering a motor vehicle or completing title transfers with the Oregon Driver and Motor Vehicle Services DMV. The information listed on an auto bill of sale template may also prove helpful in resolving any legal disputes between the seller and the buyer over the ownership of a vehicle.
Since this form contains the legal signatures of the parties involved in the transaction, it can easily show who the new owner is and who should be held accountable for all future activities associated with the vehicle sold. Therefore, the person filling out a car bill of sale document must ensure that the data entered is correct. To learn more about how to obtain and complete this document, read the sections below. When is a bill of sale necessary in Oregon? By completing this credential or signing the back of a car title certificate, the seller can prove that the vehicle has changed ownership.
The purchaser may also be required to provide a DMV bill of sale form when completing a car title transfer or while applying for a vehicle registration in the state, thus showing original releases from all previous owners.
The purchase price, which as an essential piece of information displayed on this document, may be a good basis for calculating any applicable taxes, as well. If the buyer, for instance, fails to transfer the title in a timely manner and commits any traffic misdemeanor in the meantime, the previous owner may face the related penalties and fines due. Who needs an Oregon bill of sale?
Having a valid car bill of sale copy may be in the best interest for both the seller and the purchaser. For instance, this credential can protect the seller in cases when the buyer fails to register his or her newly acquired vehicle. Possessing a bill of sell allows the seller to have access to the information contained within and prove that he or she no longer owns the vehicle in question. This may be especially helpful in the event of a future dispute or if the buyer decides to abandon the vehicle at a later date.
When this credential is provided by the purchaser, it confirms he or she now owns the vehicle in question. Additionally, the buyer may need to submit this form to a local DMV office for the purposes of finalizing the official car title transfer and initial vehicle registration along with other related procedures required by the DMV. Failure to apply for a title within 30 days from the date of sale may result in a late title transfer fee.
How to Complete a Bill of Sale Form in Oregon Regardless of whether the seller needs a completed Oregon bill of sale form to notify the DMV, or if the buyer needs it when titling and registering his or her newly-acquired vehicle, this document will require both parties to enter specific information.
The details listed on a sample bill of sale template include the following: Description of the vehicle sold, including plate and title number, vehicle identification number VIN , year, make and model. The purchase date. The date of release. The legal signatures of the seller and the buyer. Since the information contained within a used car bill of sale contract in OR must be accurate, it is best to order a vehicle history check prior to completing such form.
Last updated on Tuesday, March 10
Bill of Sale Requirements in Oregon