What is a Vehicle Bill of Sale?
A vehicle bill of sale, also known as an odometer disclosure statement, is used to legally verify your document that is being made for the sake of the buyer and the seller. Their agreement could be recognized on a legal basis and has some worth.
You can use one when you need to give your agreement a legal value, and it has many benefits that you can get in the long run. In case any issue arises from the buyer of the seller, you can claim your right and prove that you are on the fair side, and the agreement says something else.
Through this agreement, you can give the vehicle ownership to the new person who is the buyer. This document binds both parties in a contract that can't be expired unless one of the parties backed off from their words. Here you don't have to ask anyone to be the witness of the documentation.
Important Details of Vehicle Bill of Sale
There are a few things to keep in mind when it comes to vehicle bills of sale as we all know that this form is essential and has a legal worth when we are into trading with someone. It doesn’t matter whether the dealing is a small one or big; we all need to make it valid on legal grounds so, in the future, everything goes straight.
A vehicle bill of sale allows you to claim specific demands based on the rights you have signed while signing the contract. Here, both parties are obliged to discuss the terms and conditions of the agreement, so they don’t feel wrong about anything later.
Remember that you have added all the necessary details in the agreement, and later if any issue arises, you claim your right. A vehicle bill of sale doesn’t expire until one party tries to back off from what they previously claimed and signed for.
Here you are giving ownership of the vehicle's title to someone else, and till you are done with the process of payment, the process remains incomplete. Keep in mind that you can make any changes in your terms and conditions before signing after discussing it between each other because after the process of signature completes, you can't change from what you put yourself into.
How to Write a Vehicle Bill of Sale in Georgia?
Writing a bill of sale is a very significant step as it allows you to add all the necessary details so later you don’t feel betrayed because of the choices you made previously. Here you need to add all the essential things that you believe concerning the agreement.
There are a few particular things to remember that you need to add while writing down a sale vehicle bill. These can help you make a smooth agreement that goes right for both parties, the buyer and the seller.
You are supposed to write the names, addresses, contact numbers of both parties, VIN, registration number, make, model, year, color, condition of the vehicle, mileage on the odometer, number plate, hull number, etc. In case you have a personalized number plate, then you can leave it. If you are giving it as a present, you are supposed to mention it in the form.
How to Buy or Sell a Used Car?
There are a few things to remember in every condition when we talk about buying or selling a used car. When you are thinking about buying a car, it is always better to check for a title brand before deciding if it’s the right vehicle for you.
For selling a car, you need to remember that when you are going to transfer ownership using the form on the back of the title will cancel your registration even if you sold or traded your car to a dealer. You need to do this within 30 days of canceling your insurance to save yourself from any trouble and fines.
You are supposed to cancel your registration online while utilizing DRIVES e-Services or complete Form MV-18J application of voluntary registration Cancellation. You can also contact your insurance company and cancel your vehicle insurance.
It is also essential that you give an ad online on different social media platforms, ask your friends, family members, and friends so they circulate the word for you. This will help you in finding the right person from where you can buy the car.
A vehicle bill of sale in Georgia is crucial because it allows you to have certain rights over the trading that has been done between the buyer and the seller. In case you are supposed to buy or sell something, this information will be sufficient for you and make your document recognized on legal grounds, and you would like to go for this process.