Anyone selling or buying a motor vehicle in the state of Oregon must complete an Oregon vehicle bill of sale, a form available through the Oregon Department of Motor Vehicles. A bill of sale for the vehicle records all the pertinent details of the sales transaction and is required by Oregon law. Typically the purchase date, the release signatures of both the buyer and seller, name and address of the parties involved, and key vehicle details are captured on this form. It's a legal document, and the new owner must have a bill of sale for the vehicle in order to complete registration in his or her name to transfer the title. In Oregon, the law mandates that the new owner register the vehicle within 30 days from the date of purchase.
The Oregon DMV has a free online form (501) that can be downloaded to your computer for printing. There are 2 Adobe PDF file formats available to use. One is meant to be printed and filled out manually; the other version is a template that provides the ability for the user to fill in the appropriate fields using their own computer, save it and print it. The advantage to the fillable auto bill of sale template is that you can save a copy of it for your records electronically. Whereas the regular form 501 does not have this capability and you would need to make a photocopy of it for your records. If you don't have access to a computer and printer, this form can be obtained at any full service Oregon DMV office. A listing of DMV locations throughout the state can be found in the white pages of the phone book under the state government section.
The fields on the bill of sale are straightforward and self-explanatory. For the fillable form, the DMV forms page outlines the instructions on how to enter the data in this format. Key information about the vehicle needed for the form are the car's license plate number, the vehicle identification number (VIN), the make, model and year of the vehicle. All fields must be completed. If any of the information is missing, the DMV will not be able to process the transfer of title to the new owner until that information is provided. It's important to note that the bill of sale for the vehicle is not the only required document to seal the sales transaction. The state of Oregon under ORS 803.112 requires that the seller notify the DMV within 10 days of the vehicle sale by submitting a Notice of Sale or Transfer of Vehicle, form 6890. The buyer must provide information (name, address and signature) on this form as well. The notice of sale simply allows for a notation on the vehicle record and is not a substitute for the bill of sale. Like the bill of sale, the notice of sale can be downloaded from the DMV forms website or obtained from an Oregon DMV location.
These required forms help to maintain accurate vehicle records and related ownership information, and helps to define the buyer and seller's legal responsibility and rights. For more information, visit the Oregon DMV website.