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In Arkansas, a bill of sale is required to register any newly purchased boat or vehicle and may need to be notarized. Once the necessary bill of sale has been completed with the buyer and seller's information, both parties must sign the document to officially transfer ownership of the item.
Remember that odometer tampering can result in fines and /or imprisonment, so it's important, to be honest about your vehicle's mileage. It's OK if you don't know what the real number is, but make sure you indicate as such on the title upon its sale.
An odometer disclosure statement is simply a declaration of a vehicle's mileage as indicated by its odometer, and if whether or not it's an accurate reading. If you've ever sold a car you've actually completed a generic odometer disclosure statement.
An Arkansas motor vehicle bill of sale (Form 10-313) is a document that serves as legal proof that a motor vehicle has transferred ownership. The form conveniently includes an odometer disclosure statement which is usually separate. New owners must furnish a legal bill of sale in order to register the vehicle.
An Odometer Disclosure Statement is a legally binding document that provides an accurate mileage on the odometer at the time the car changes hands from the seller to the purchaser. And if the mileage is known to be incorrect, it must be indicated on the statement.
Odometer Statement. Under federal guidelines, vehicles less than 20 years old must have a fully completed odometer disclosure statement signed by both the buyer and the seller.