This Bill of Sale of Automobile contains the following information: the make/model of the car, VIN number and other information. Seller guarantees that the property is his/her own and is free of all claims and offsets of any kind. The form also contains the Odometer Disclosure Statement required by Federal Law and State Law, where applicable, which must be signed in the presence of a notary public.
Title: Understanding the WV Odometer Statement: Types and Importance Keywords: WV Odometer Statement, vehicle mileage disclosure, odometer fraud, title transfer, types of WV Odometer Statements Introduction: The WV Odometer Statement is a crucial document used to disclose the accurate mileage on a vehicle during a title transfer in West Virginia. This statement holds immense significance in preventing odometer fraud and ensuring transparency in the used car market. This article will provide a detailed description of what the WV Odometer Statement is, its importance, and the different types of statements available. 1. What is a WV Odometer Statement? The WV Odometer Statement is a legal document that verifies the accuracy of the mileage displayed on a vehicle's odometer at the time of sale or transfer. It provides crucial information to the buyer regarding the vehicle's true mileage, enabling informed purchase decisions. 2. Importance of WV Odometer Statement: The WV Odometer Statement plays a vital role in combating odometer fraud, which involves tampering with or rolling back an odometer to mask a vehicle's true mileage. By requiring sellers to complete this statement, West Virginia aims to protect buyers from purchasing vehicles with incorrect mileage readings, ensuring fair transactions, and decreasing opportunities for fraud. 3. Types of WV Odometer Statements: a. WV Odometer Disclosure Statement: This type of WV Odometer Statement is used when a vehicle is being sold or transferred to a new owner. The seller must complete this statement accurately, providing the vehicle's current mileage and any known discrepancies or alterations to the odometer. b. WV Odometer Exemption Statement: In certain cases, vehicles are exempt from odometer disclosure requirements due to their age or other factors. The WV Odometer Exemption Statement is used to declare these exemptions, with specific eligibility criteria outlined by the state. c. WV Odometer Non-Disclosure Statement: This type of statement is used when the transfer of a vehicle's title does not require odometer disclosure. However, it is essential to note that this statement should be used sparingly and only in cases where the transfer falls within the exemptions specified by West Virginia law. Conclusion: The WV Odometer Statement is a vital tool designed to protect consumers from fraud and ensure transparency in the used vehicle market. By understanding its purpose, different types, and significance, both buyers and sellers can confidently navigate the titling process while being aware of their rights and responsibilities. Always ensure accurate disclosure of mileage information to maintain the integrity of the transaction and uphold consumer trust.
