Bill Of Sale
What is an Indiana Bill of Sale?
Are you thinking of buying a car? If so, youâ€™ll want to consider completing a bill of sale, a document that contains all of the relevant details surrounding the transaction. An IN motor vehicle bill of sale serves as a receipt, or proof that the vehicle transfer occurred. Though this document can contribute to the legal protection of the sellerâ€™s and buyerâ€™s rights during and after the sale, it does not carry the same validity as a Certificate of Title. Some states may not require a bill of sale for these transactions, but it is in your best interest to have one anyway â€“ even if itâ€™s only for your own personal records.
Should problems arise with your vehicle in the future, the IN DMV bill of sale holds valuable information, and you will be thankful that you took the time to acquire one.
Is a Motor Vehicle Bill of Sale Necessary in Indiana?
Although the state of Indiana does not require a motor vehicle bill of sale, you should still consider using one. Documenting the transaction with an IN bill of sale may prove beneficial later down the road. If you choose not to use one, the state of Indiana still requires that some general information be documented on the Certificate of Title. This includes things such as current contact information for the buyer and seller, vehicle mileage and the price agreed upon. If you do decide to use an IN bill of sale, you have made a wise decision â€“ but you will still want to be sure to include the following in addition to the general information found on the Certificate of Title:
- Date of the transaction
- Signatures from both the buyer and the seller
- Vehicle Identification Number (VIN)
- Model, series number, year and make
When you are thinking of obtaining a generic DMV bill of sale form â€“ keep in mind that they can be easily downloaded from the internet. For added security, you may also want to consider having the document notarized.