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Why Should A Car Seller Prepare An Auto Bill Of Sale?
A vehicle bill of sale is a legally recognized document that is used for transferring a car ownership to a buyer from a seller. The document should include all the proper details about the vehicle that is being transferred, to make sure that there is legal protection for both parties involved in the transaction. Find out why a car seller needs to prepare a bill of sale for his car, and how it can help him.
Avoiding mileage alterations by the buyer
Generally, a seller tends to assume that he does not have to worry about anything anymore when he gets the funds related to the transaction.
However, this is only guaranteed as long as he prepares a proper bill of sale that comprises of an odometer disclosure form. This type of form specifies the vehicle mileage as well as the date on which the ownership date was transferred to the seller.
Avoiding charges of fraud from buyer / legal authorities
It is possible that the buyer can change the odometer reading of the vehicle to fetch a higher price for the same car. In the future, it can be tough to determine who actually committed the fraud. A proper odometer disclosure form attached to an auto bill of sale form can help a seller show that the fraud was actually done by the purchaser. It can show that the original seller is free of fraudulent practices, and allow him to avoid any unpleasant legal issues. If the buyer sells the car to another person and the new buyer reports of a change in odometer reading, the original seller can avoid all responsibilities.
Avoiding responsibilities of repairs
It could be that the odometer reading is changed by the purchaser to get repairs for the car under warranty. With a proper motor vehicle bill of sale, it can be indicated that the vehicle has been sold without any changes being made to it. This helps the seller avoid any charges that might be made later about him about misrepresenting information down the line. He can avoid any liabilities once he sells the car. For more information about getting a car bill of sale in Alabama, please visit this website.
Carl writes often about online legal drafting like affidavit, bill of sale and release/ waiver agreement to help the people. Please visit this site to get a sample bill of sale in Alabama and bill of sale in Delaware.
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