This form is a bill of sale of an automobile. The seller(s) guarantees that the automobile is his/her/their property and is free of all claims and offsets of any kind. The bill of sale also states that the automobile is sold "as-is" without any warranties, express or implied. A separate Odometer Disclosure Statement is included with the bill of sale.
The Texas Odometer Statement is a legal document used in the state of Texas to disclose accurate information about a vehicle's mileage when selling, transferring, or applying for a title on a motor vehicle. This statement is crucial in preventing odometer fraud and ensuring transparency in vehicle transactions. The Texas Department of Motor Vehicles (DMV) requires all sellers to complete the Texas Odometer Statement, officially known as Form VTR-40, when transferring ownership of a motor vehicle. This form is available on the DMV website and must be completed accurately and honestly by both the seller and buyer. Form VTR-40 includes various fields that need to be filled out, which include: 1. Vehicle Information: The form requires detailed information about the vehicle, such as make, model, year, vehicle identification number (VIN), license plate number, and any other necessary details that can help accurately identify the vehicle in question. 2. Odometer Reading: The most crucial aspect of the Texas Odometer Statement is the accurate reporting of the vehicle's mileage. This section requires the seller to disclose the mileage on the vehicle's odometer at the time of sale or transfer. It is essential that the reading is precise and not tampered with, as any false reporting may lead to legal consequences. 3. Mileage Disclosure: The statement also requires the seller to indicate whether the mileage shown on the odometer is the actual mileage, or if it is not the actual mileage, to provide an explanation as to why. This disclosure safeguards buyers by prompting sellers to be transparent about any potential discrepancies in the odometer reading. 4. Seller and Buyer Information: The form requires both the seller and buyer to provide their names, addresses, signatures, and driver's license details. This information helps establish the identities of the individuals involved in the vehicle transfer. It is important to note that the Texas Odometer Statement is mandatory for most vehicles, including cars, trucks, motorcycles, trailers, and recreational vehicles, among others. However, it is not required for vehicles that are 10 years old or older or if the vehicle has a Gross Vehicle Weight Rating of more than 16,000 pounds. Additionally, there are no specific types of Texas Odometer Statements with different text variations. The standard Form VTR-40 is used universally for all vehicles requiring this disclosure. In conclusion, the Texas Odometer Statement, known as Form VTR-40, is a crucial document used in vehicle transactions within the state of Texas. It ensures accurate disclosure of a vehicle's mileage, helping prevent odometer fraud and promoting transparency between sellers and buyers.
