Iowa Vehicle Bill of Sale Form
An Iowa Vehicle Bill of Sale Form is a legal document detailing the sale of a motor vehicle in Iowa. It states that there's a transfer of ownership from a buyer to a seller.
Why Do You Need an Iowa Vehicle Bill of Sale?
The Iowa Bill of Sale is important n transferring ownership of a vehicle. It's also used to register the vehicle with the Iowa Department of Transportation (DOT), Motor Vehicle Division. This is done through the office of the county treasurer.
The Iowa Bill of Sale form should contain the following:
- Vehicle identification number (VIN)
- Make
- Model
- Year
- Current odometer reading (on all vehicles not yet 10 years old).
It also indicates the negotiated purchase price. This will then determine the sales tax. The form has to be signed by both parties for the DOT to take it.
The Iowa Bill of Sale in itself does not usually require notarization. However, it's important that the title is properly completed.
Common Uses of an Iowa Vehicle Bill of Sale?
This form has different uses for both sides of the transaction:
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S/N |
Seller |
Buyer |
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States that the vehicle no longer belongs to them. |
Serves as the first indication of their title to the vehicle. |
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Carries the related liability to the new owner. |
Helps them go through the registration process successfully. |
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Allows for the adherence to state laws in the future. |
Leads to a fast and easy transfer of title process. |
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Helps avoid any conflicts that may arise in the future. |
Allows for insurance and possible resale in the future. |
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Gives peace of mind. |
Gives a sense of security. |
Yes, you have to use an Iowa Bill of Sale if you want to sell a car legally. Without it, the buyer cannot transfer the title of the car and register it with the Iowa DOT. It is a form that confirms the sale and helps the state to process the change of ownership effectively.
The seller and the buyer should provide their complete legal names and addresses, as well as the date of the sale. Then, it should include the details of the vehicle, including the odometer reading. The form should also state the agreed price of sale and should be signed by both parties.
Usually, an Iowa Bill of Sale does not need to be notarized for it to be legally valid. However, the odometer disclosure statement should be signed by both the seller and buyer. Although notarization is not a state requirement, extra legal protection can be obtained from there.
The buyer needs a copy of the Iowa Bill of Sale and a signed-over vehicle title (containing odometer disclosure). Then, they also need a filled-in Application for Certificate of Title and Registration. These documents are to be taken to the local county treasurer's office.