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Odometer Disclosure Statement 2015-2026 free printable template
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Odometer Disclosure Statement I, a Notary Public in the state of, in the county of, have personally verified the mileage of (miles) on this (year) (make) (model) (VIN) belonging to on this day of,
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Detailed Overview of the Odometer Disclosure Statement 2 Form
Understanding the Odometer Disclosure Statement
The odometer disclosure statement 2 form is a vital legal document used in the United States during vehicle transactions. This form serves to record the mileage of a vehicle at the time of sale, helping to prevent odometer fraud. By accurately stating the vehicle's mileage, both the seller and buyer establish a clear understanding of the vehicle’s condition and value.
Key Features of the Form
The odometer disclosure statement includes several essential features:
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Precise recording of the vehicle's current mileage.
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Detailed identification of the vehicle, including make, model, year, and VIN.
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Sections for both the seller’s and buyer’s names and addresses.
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Signature requirements for notarization, ensuring the authenticity of the document.
When and Why to Use the Form
This form is required when transferring ownership of a vehicle to another party, specifically for vehicles that are less than ten years old. Its use is crucial in eliminating potential disputes regarding a vehicle’s odometer reading, offering protection to both the seller and buyer. Additionally, some states may require this document as part of the vehicle registration process.
Who Should Complete the Form
Both sellers and buyers in a vehicle transaction should engage with the odometer disclosure statement. Sellers are responsible for providing accurate mileage information, while buyers should review this information as part of the overall due diligence in purchasing a vehicle. It is particularly important for private sales, where there may be less formal oversight compared to dealership transactions.
How to Accurately Complete the Form
To fill out the odometer disclosure statement correctly, follow these steps:
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Collect the vehicle's make, model, year, and VIN before starting.
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Clearly state the vehicle's current mileage at the time of sale.
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Fill in names and addresses for both parties accurately.
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Ensure the completed form is notarized for legal validity.
Common Mistakes to Avoid
When completing the odometer disclosure statement, paying attention to detail is crucial. Common errors include:
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Failing to record the correct mileage can lead to legal issues.
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Ensure all required signatures, including the notary's, are present.
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Double-check that all vehicle identification information is accurate and complete.
Frequently Asked Questions about notarized statement odometer disclosure form
What is the importance of the odometer disclosure statement?
The odometer disclosure statement helps protect both buyers and sellers by documenting the true mileage of a vehicle, thus preventing fraud and ensuring transparency in vehicle transactions.
Do all states require an odometer disclosure statement?
Most states in the U.S. require an odometer disclosure statement for vehicles that are less than ten years old. It's advisable to check your state’s specific requirements.
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People Also Ask about odometer statement
What is an odometer reading?
A vehicle's odometer reading is one of the key factors in determining what that vehicle is worth, as it indicates the number of miles a vehicle has traveled.
How do you read a car odometer?
0:16 5:40 Reading the Odometer (Rounding Large Whole Numbers - YouTube YouTube Start of suggested clip End of suggested clip During our trip the odometer counts how many miles we traveled notice how the first digit on theMoreDuring our trip the odometer counts how many miles we traveled notice how the first digit on the right is increasing it starts from 0 then one two three until it reaches nine then it goes back to zero
Do I need an odometer disclosure statement New Jersey?
FEDERAL LAW requires that you state the mileage upon transfer of ownership. Failure to complete this disclosure statement or providing false information may result in fines and/or imprisonment.
How do I fill out an odometer disclosure statement in NJ?
I/We state that the odometer now reads_ (do not show tenths) and to the best of my/our knowledge that reflect the actual mileage of the vehicle described on the attached certificate of ownership, unless one of the following statements is checked.
What is odometer example?
An odometer is an instrument that indicates the distance traveled by a vehicle, such as a bicycle or an automobile.
How do you write odometer?
If your vehicle is equipped with an odometer capable of reading 999,999 miles, you need only write in the odometer disclosure "the actual mileage shown" on the odometer. (NOTE: Do not write in tenths of miles.) (Example: If your odometer reads 118, 666.6 miles, you would disclose 118,666 miles on the title.)
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