Complete Odometer Disclosure Statement for Seller and Buyer | Vehicle Title Transfer

Are you in the process of buying or selling a vehicle? If so, you may need to complete an Odometer Disclosure Statement. At BizzLibrary.com, we provide a professionally drafted Odometer Disclosure Statement template that can help you ensure a smooth and successful transaction.

What is an Odometer Disclosure Statement?

An Odometer Disclosure Statement is a legal document that records the mileage of a vehicle at the time of sale or transfer. It protects both the seller and the buyer by ensuring that the odometer reading is accurate and prevents the roll-back of mileage numbers, which is considered fraud.

Why Do You Need an Odometer Disclosure Statement?

The primary reason for having an Odometer Disclosure Statement is to comply with federal and state laws. The federal law, Title 49 of the United States Code, Section 32705, requires sellers to disclose the accurate odometer reading to buyers when they sell a vehicle. Additionally, every state has specific odometer disclosure requirements that must be met when buying or selling a vehicle.

Here are some reasons why you need an Odometer Disclosure Statement:

• Maintain Legal Compliance: By accurately reporting the odometer reading, you can ensure legal compliance with state and federal laws governing odometer disclosure. Failure to comply with these laws can result in penalties and legal action.
• Prevent Fraud: A properly completed Odometer Disclosure Statement minimizes the risk of fraud and ensures that you have a clear understanding of the vehicle's mileage.
• Protect Yourself: As a seller, completing an Odometer Disclosure Statement protects you from liability if the buyer decides to make a legal claim regarding the accuracy of the odometer reading.

How to Use Our Odometer Disclosure Statement Template

Using our professionally drafted Odometer Disclosure Statement template is easy and straightforward. Simply download the PDF document and fill in the required fields with the relevant information, including:

• Vehicle identification number (VIN)
• Odometer reading at the time of sale
• Seller's name and address
• Buyer's name and address
• Date of sale

Once filled out, the Odometer Disclosure Statement should be signed by both the seller and the buyer and submitted to the relevant authorities or included with the necessary paperwork for the sale or transfer to be completed.

Download Our Odometer Disclosure Statement Template Today

Ready to complete your vehicle sale or transfer with confidence? Download our Odometer Disclosure Statement template now from BizzLibrary.com. Our easy-to-use template is available in PDF format and is designed to meet all state and federal requirements for an accurate and legal odometer disclosure. Don't wait; ensure a legal and successful vehicle transaction with our Odometer Disclosure Statement template.