A New York DMV Bill of Sale (MV-912) is a legal document that serves as proof of ownership transfer for a vehicle, trailer, boat, snowmobile, or ATV. It is required for private vehicle sales in New York State and must be completed by both the buyer and seller.
Purpose of a New York DMV Bill of Sale :
The primary purpose of a New York DMV Bill of Sale is to document the sale of a vehicle from one individual to another. It provides essential information about the vehicle and the transaction, including:
- Vehicle identification number (VIN)
- Vehicle make, model, and year
- Odometer reading
- Purchase price
- Seller’s name, address, and signature
- Buyer’s name, address, and signature
Completing a New York DMV Bill of Sale :
The New York DMV Bill of Sale (MV-912) is a straightforward form that can be easily completed by both the buyer and seller. It is important to provide accurate and complete information for all required fields. The form can be downloaded from the New York DMV website or obtained from a DMV office.
Obtaining a New York DMV Bill of Sale :
Both the buyer and seller should keep a copy of the completed New York DMV Bill of Sale for their records. The original copy should be provided to the buyer, who will need it to register the vehicle in their name.
Importance of a New York DMV Bill of Sale :
A New York DMV Bill of Sale is an essential document for private vehicle sales in New York State. It serves as legal proof of ownership transfer and protects both the buyer and seller from potential liabilities. Failure to complete and retain a bill of sale can lead to complications when registering the vehicle or addressing legal issues related to the sale.
New York DMV Bill of Sale Template
Seller’s Information:
- Full legal name of the seller
- Address (including city, state, zip code)
- Contact number
- Email address (optional)
Buyer’s Information:
- Full legal name of the buyer
- Address (including city, state, zip code)
- Contact number
- Email address (optional)
Vehicle Information:
- Year, make, and model of the vehicle
- Vehicle Identification Number (VIN)
- Odometer reading at the time of sale
- Color of the vehicle
Sale Details:
- Date of sale
- Purchase price in dollars ($)
- Method of payment (cash, check, etc.)
- Any conditions or warranties agreed upon
Signature and Notarization:
- Signature of the seller
- Signature of the buyer
- Notary acknowledgment (optional but recommended)
Benefits of a New York DMV Bill of Sale:
- Legal Protection: A Bill of Sale serves as proof of the transaction, protecting both the buyer and seller by documenting the sale details. It can prevent disputes or legal issues that may arise in the future.
- Transfer of Ownership: This solidifies the transfer of ownership from the seller to the buyer. This is crucial when registering the vehicle under the buyer’s name at the New York DMV.
- Odometer Disclosure: Including the odometer reading in the Bill of Sale is necessary under federal law to prevent odometer fraud. It ensures transparency regarding the vehicle’s mileage at the time of sale.
- Record Keeping: It provides a record of the sale for both parties. This documentation can be useful for tax purposes or in case the vehicle’s history needs to be traced.
- DMV Requirement: Some states, including New York, may require a Bill of Sale for certain vehicle transactions, especially for private sales. Having this document ready can expedite the registration process at the DMV.
When creating or using a Bill of Sale, it’s crucial to ensure accuracy in the information provided, and both parties involved should retain a copy for their records. Additionally, it’s recommended to consult with the New York DMV or legal professionals for any specific requirements or additional documentation needed for your particular transaction.