Maine Vehicle Bill of Sale Form
A Maine Vehicle Bill of Sale Form is a legal document for motor vehicles. It's designed to record vehicle sales and transfer of ownership between a seller and a buyer in Maine.
Why Do You Need a Maine Vehicle Bill of Sale?
A Maine Bill of Sale is an important document when transferring a title to a vehicle in Maine. This document is important for registering with the Maine Bureau of Motor Vehicles (BMV).
A Maine Bill of Sale should cover the full legal name and addresses of the buyer and seller. It should also have important details about the vehicle. Such details include:
- Vehicle identification number (VIN)
- Make
- Model
- Year
- Current odometer reading (for a car under 10 years old)
The document also clearly states the agreed-upon purchase price, which is used for calculating sales tax. Both the buyer and seller must sign the form for it to be accepted by the BMV.
Normally, the Maine Bill of Sale itself does not need to be notarized. However, it is necessary for the buyer to accurately finalize the odometer disclosure statement on the title.
Common Uses of a Maine Vehicle Bill of Sale?
This document has several uses, including:
- Transfer of Liability
This document officially shows that the seller no longer owns the vehicle. It completely transfers all the liabilities that come with the vehicle to the buyer.
- Evidence of Ownership
For the buyer, it is the main evidence of ownership of their new vehicle. This is what they’ll need to register, insure, and resell in the future.
- Fulfills State Requirements
A correctly executed form ensures that the sale complies with state requirements. This, in turn, helps with the easy transfer of titles.
- Gives Peace of Mind
This document helps prevent any future disputes. Thus, it brings peace to both parties.
Yes, to sell a car in Maine, you need a Bill of Sale. The buyer needs it to get the title transferred and register the vehicle with the Maine BMV. The form also proves the purchase, speeds up the transfer procedure, and ensures its efficiency.
Maine Bill of Sale normally does not need notarization to be legally valid. However, it is very important that both parties complete and sign the odometer disclosure on the title. Notarization provides additional legal assurance for the two parties in a private sale, especially for pricey vehicles.
To transfer title, the buyer needs the Maine Bill of Sale and the properly signed-over vehicle title from the seller.