How to Get a Bill of Sale in Oklahoma
An Oklahoma DMV bill of sale is a legal document that records the sale of a vehicle and can prove to be very useful in different vehicle-related procedures. The details listed on a vehicle bill of sale form in OK generally include information about the buyer and the seller, the vehicle that is being transferred and the sale process itself. Furthermore, the purchase price contained within a car bill of sale is an important detail as it proves to be helpful for calculating the excise taxes due on the vehicle in question.
Submitting this credential may be required in other instances, as well, such as when transferring the ownership of a vehicle. Possessing a properly completed sample bill of sale template may also prove helpful for the seller and the purchaser in the event of a legal dispute over the vehicle’s ownership or the amount of sale. To find out more about how to write a bill of sale and when this document is necessary, read the applicable sections below.
When is a bill of sale necessary in Oklahoma?
The details listed on an Oklahoma car bill of sale form can be helpful when completing certain vehicle-related transactions through the Oklahoma Tax Commission (OTC). For example, an OTC bill of sale PDF or printout typically contains the purchase price, and this is necessary for determining the exact excise tax due, if applicable.
A bill of sale, or a copy of the purchase agreement, is necessary for individuals who have obtained a vehicle and are applying for its car registration. Moreover, a bill of sale copy can also confirm the purchase price of a used vehicle, provided the buyer is unable to submit a purchase agreement, title certificate or a notarized Declaration of Vehicle Purchase Price.
Presenting a document displaying the vehicle’s purchase price is also a requirement when finalizing a car title transfer, which takes place after the process of buying a car. Thus, this credential may be submitted in place of a title assignment as part of the sales price paperwork. This is only possible if the title assignment does not contain the selling price or the individual is not able to furnish a purchase contract.
Another instance whereby a completed vehicle bill of sale may prove useful is in resolving any legal dispute between the seller and the buyer over the vehicle’s ownership. The seller can avoid any liability for the vehicle sold once he or she proves the change of ownership.
Note: You can check whether a bill of sale is needed to finalize other official proceedings by contacting the OK Tax Commission.
Who needs an Oklahoma bill of sale?
Having an OK bill of sale document is invaluable for both parties involved in a vehicle sales transaction. Sellers who retain a copy of this credential may utilize this form for the purposes of protecting themselves in the event of a legal disagreement over the ownership of the vehicle. This may be especially important in cases when the buyer fails to complete the car title transfer properly and accrues penalties due to a specific traffic violation.
In such an instance, the previous owner may be held accountable for the action. However, if the seller provides a bill of sale contract, thus confirming the transfer of ownership, he or she can avoid any liability associated with the vehicle sold.
When a buyer submits a properly filled out bill of sell, on the other hand, they can prove that the vehicle belongs to him or her. Finally, by retaining a bill of sale copy, both the buyer and the seller have access to the information contained within, including the date of sale and purchase price, and can present it whenever necessary.
How to Complete a Bill of Sale Form in Oklahoma
Regardless of whether you need an OK bill of sale form for completing a vehicle-related procedure through the OTC or for other purposes, you must be prepared to provide specific information when completing the form. Before signing this credential, order a vehicle history report in order to verify all the details of the vehicle being transferred. A sample bill of sale template in Oklahoma typically requires the following details:
- The printed names and addresses of the seller and buyer.
- The legal signatures of the seller and buyer.
- The date of sale.
- The purchase price.
- Information about the vehicle sold, such as:
- Year, make and model.
- Vehicle identification number (VIN).
- Odometer reading (if applicable).
If you need to submit a properly completed bill of sale document along with other paperwork when completing a title transfer or registering a vehicle, you may need to personally visit a local OK motor license agency.