This form is used when an individual wishes to buy or sell motor vehicle in the United States of America and prefers the deal to be secured. This form is just a template and can be modified as per individual requirements.
The instructions given below shall help understand and fill the form correctly.
The form begins with a declaration confirming the sale of the motor vehicle including the mutually agreed dollar amount followed by the full and legal name of the buyer and the full and legal name of the seller (first, middle, last).
In the next section, a complete description of the motor vehicle needs to be given which should include make of the vehicle, model or series, year of purchase, color, vehicle identification number (VIN#), style, odometer reading & title #.
In the third segment, the terms and conditions of the agreement are stated which conclude that the seller has received a given dollar amount (mention the amount) as down payment and shall receive the full and final payment in the given days (mention the days) including the title transfer, seller grants the buyer given days (mention the days) to inspect the vehicle from an independent mechanic and if found unsatisfactory shall cancel the sale and that the seller shall retain the down-payment for covering the costs, seller also certifies that the aforementioned information is true to the best of their knowledge and that they hold complete ownership rights of the vehicle, seller also confirms that the motor vehicle is free from all loans, mortgages, tax burdens or damages and that it is in the best working condition.
Lastly both the parties, the buyer and the seller have to sign the document followed by the signature of a witness with their name to seal the deal.