Residents of the state of Indiana who want to title a vehicle into their name and register as its owner may need to get an Indiana bill of sale form in order to complete the process of title transfer at their local Department of Motor Vehicles.
Like many other states, the state of Indiana often requires a bill of sale form at the DMV counter when the new owner of a vehicle is trying to complete the title transfer process. One primary purpose of the bill of sale form is to get an accurate recording of the sale price for the vehicle, especially if the sale was a private party sale in formal transactions between the individual seller and buyer. Another purpose of the “title bill of sale” requirement is to ensure that there is no lien on the vehicle when it is sold. A seller who sold a vehicle while still owing debt on it would be creating a sticky financial situation, and the DMV looks closely to find any outstanding liens before a title transfer.
Where to Get an Indiana Bill of Sale Form
Residents of Indiana can download a bill of sale form directly from the web site of the state DMV. The Indiana bill of sale form is also called a form 44237.
What’s on an Indiana Bill of Sale for a Vehicle
The sale price for the transaction is the first detail on an Indiana bill of sale. The seller’s identity is the second item on the form. From there, the form covers basic information about the vehicle, including year, make and VIN or vehicle identification number.
Information about the buyer is also included on the form. For specialty vehicles like snowmobiles or all-terrain vehicles, a separate registration number may be required. Indiana often requires a bill of sale form for transferring these kinds of smaller vehicles.
The Indiana bill of sale form does not provide a separate space for use by a notary public, but some of the documentation of an auto sale may need to be notarized for some kinds of specific transactions. Also, unlike the forms of some other states, the official bill of sale form for an Indiana transaction does not include specific information about the odometer reading. A transferred title must record an accurate mileage for the vehicle.
What to Do with an Indiana Bill of Sale
The buyer of the vehicle should take the bill of sale form with them to the local Department of Motor Vehicles office. Both the seller and the buyer should keep the bill of sale form on file for use with tax returns. It also helps the seller to prove a release of liability for the vehicle, so that they cannot be held liable for future road incidents. For the buyer, the bill of sale form reinforces verification that they are the sole owner of the vehicle in question.