This forms package contains a Bill of Sale, Odometer Statement and Promissory Note. It is for the situation where the Buyer may be making a downpayment and paying the balance over time.
The Bend Oregon Bill of Sale for Automobile or Vehicle is a legal document used to transfer ownership of a motor vehicle from one party to another in the city of Bend, Oregon. It includes essential details about the vehicle, buyer, seller, and the terms of the sale. The bill of sale form should include the following information: 1. Vehicle Description: This section involves providing comprehensive details about the vehicle being sold, such as the make, model, year, vehicle identification number (VIN), body type, color, and any other distinguishing features. 2. Buyer and Seller Information: Both the buyer and seller must provide their full legal names, addresses, phone numbers, and driver's license or state identification numbers. 3. Purchase Price: The bill of sale should clearly state the agreed-upon purchase price for the vehicle. If there is a trade-in, it should be documented separately. 4. Promissory Note: If the buyer agrees to make the payment in installments, a promissory note may be included, outlining the terms of the payment plan, interest rate (if applicable), and consequences for defaulting on the agreement. 5. Odometer Statement: To comply with federal law, it is essential to include an odometer statement verifying the mileage on the vehicle at the time of sale. The seller must acknowledge the accuracy of the reading, and the buyer must sign to acknowledge the disclosure. Different types of Bend Oregon Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note may vary in terms of their specific format or additional clauses. Some variations include: 1. As-Is Bill of Sale: This version clarifies that the buyer is accepting the vehicle in its current condition without any warranties or guarantees from the seller. 2. Conditional Bill of Sale: This type of bill of sale includes conditions that both the buyer and seller must meet before the sale is complete. For example, the buyer may require the vehicle to pass a pre-purchase inspection before finalizing the transaction. 3. Notarized Bill of Sale: This version includes an additional step where the document is signed in the presence of a notary public who verifies the identities of the buyer and seller. 4. Secured Promissory Note: If the buyer is borrowing money from a lender to finance the purchase, a secured promissory note may be used. This type of note specifies that the vehicle will serve as collateral until the loan is repaid in full. Ensure that the Bend Oregon Bill of Sale for Automobile or Vehicle including Odometer Statement and Promissory Note is carefully completed, signed by both parties, and retained as legal documentation for the vehicle's transfer of ownership. Always consult with an attorney or consult the Oregon Department of Motor Vehicles for any specific requirements or variations in the bill of sale form.
