The title will have a section that will allow the buyer and seller of a vehicle to provide information detailing the change in ownership. Generally, the parties will need to provide:
- Their full names and addresses.
- The purchase price
- The purchase date
- Odometer reading
The buyer will need to provide information about their lender, if applicable. Both the seller and the buyer must sign the document.
Some states require that title transfers be notarized, and state laws differ based on how to correct something you misspelled on the title.
Some states have you get a duplicate of the original title and start the process over. Other states allow you to draw a line through the incorrect information and write the correct information on top, although you may need to fill out a form that explains the nature of the error.
The buyer is ultimately responsible for obtaining a new title in their name from the state in which they reside and should determine the information and steps required by consulting their state motor vehicle website. The buyer should receive a bill of sale from the seller and a copy of the signed title.
The bill of sale must include:
- The date
- Location (city / town and state) of purchase
- A description of the vehicle.
- The names and addresses of the buyer and seller.
- Signatures of both buyer and seller
Before signing anything, the buyer should verify that the VIN of the title matches the VIN of the car. They should also look up the VIN in their state’s online motor vehicle database to make sure there are no liens against the vehicle that the seller hasn’t disclosed.
The seller should keep copies of the signed title and bill of sale for their own legal protection.