How to Fill Out Odometer Disclosure Statement Texas
An odometer declaration is a mandatory schedule to a vehicle purchase contract at the time of purchase for all vehicles under £16,000 and less than 10 years old. The document is required by federal law in the 50 states to be submitted to complete the sale and allows the buyer of the vehicle to apply for registration (with the title and purchase contract and any other required form). Next, the seller must define the accuracy of the odometer. To this end, two selections are listed under the opening statement. The next part of this form requires the attention of the purchaser of the vehicle. This part must not be completed until the buyer has consulted the mileage and verified this document. Once this task is complete, the buyer must sign their name in the “Buyer`s Signature” line. In addition, the buyer`s printed name must be clearly visible on the field designated as “Buyer`s Name”. The Texas Department of Motor Vehicles provides the following information and documents to help motorists learn more about odometer fraud and what to look for when buying a vehicle. If signed by both the selling dealer and the buyer, Form 130-U, Application for Title and/or Registration in Texas (PDF) is an acceptable document to prove the total consideration for the motor vehicle purchased in Texas. If the CTAC has reason to question the accuracy of the information contained in a statement, or if a material fact does not comply with the guidelines announced by the Controller, the CCLC may require either party to the statement to provide the information contained in the statement, including a copy of the merchant`s invoice or the purchaser`s orders, Proves.
Section 501.072 requires the assignor of a motor vehicle transferred to that state to provide the assignee with a disclosure of the vehicle`s mileage at the time of transmission in accordance with 49 U.S.C§ 32705; except for a vehicle exempted from odometer disclosure requirements pursuant to Part 580 of 49 C.F.R. A Texas odometer disclosure statement must be completed as follows: Mileage marks on vehicle titles may be displayed if the vehicle`s mileage is known due to tampering or if it is suspected that the vehicle`s mileage is not the vehicle`s actual mileage. A Texas Odometer Disclosure Statement is a form required when ownership of a vehicle is transferred from its seller to its new owner. Reporting is a method to prevent odometer manipulation, as falsifying mileage readings is punishable by federal and state laws and can result in jail time. It can be difficult, but not impossible, to detect when a vehicle`s odometer has been changed. In the first empty field of the explanation of this document, enter the full name of the seller of the vehicle A Texas odometer disclosure declaration template can be downloaded below. The second empty field requires that the number of miles, rounded to the nearest tenth, displayed on the vehicle`s odometer be documented. The next line contains three spaces. Use these fields to enter the “City”, “Status” and “Postal Code” fields associated with the street reported by the seller.
Upon transfer of ownership, the seller must complete the transfer of ownership by signing and printing the seller`s name, printing the date of the transfer, and printing the buyer`s name and address on the title. If the odometer is accurate and represents the vehicle`s actual mileage, place a marker on the first check box. For more information, see Privilege Assumptions in this guide. This form requires both the seller and the buyer to sign this document and provide some basic information. Two separate sections have been set up for this purpose. First, find the words “seller`s signature.” Next, the city, state, and zip code attached to the buyer`s address must be indicated in the empty fields labeled “City,” “State,” and “Zip Code.” You can open or download this form in Adobe PDF, Open Document Format (.odt), or Microsoft Word (.docx). Finally, the date on which this document was signed by both parties must be indicated on the blank line entitled “Date of certification”. Federal Law – 49 United States Code Chapter 327 (Odometer) This is the federal form, although your state may have its own odometer disclosure statement provided by the Department of Motor Vehicles (DMV).
The empty line below the signature line “Seller`s address” must record the seller`s physical street (building number, street and any applicable suite number). For transactions with private parties, the seller is not required to sign Form 130-U (PDF) unless the seller has a General Identification Number (GDN) in accordance with Chapter 503 of the Transportation Code and the seller has complied with sections 501.028, Signatures and 501,072, Odometer Disclosure Declaration. If a person accepts a lien and no principal is paid to the seller or lien creditor, the amount payable to release the lien, commonly referred to as “net payment”, is the total consideration for the sale. SPV procedures can be applied. . Manufacturer and dealer discounts, which are passed on directly to customers, reduce the total consideration when calculating the tax value of a motor vehicle. The following items are part of the total (i.e., taxable) consideration and are not deducted from the sale price: the person who sells the vehicle and provides the odometer information on this form must sign and then print their name on the empty fields labeled “Seller`s Signature” or “Seller`s Name” respectively. .