Life is like a race. Everyone seems to be eager to get his hands on a better opportunity. The same goes for the choice of vehicles. Thus, buying and selling a car has become a common practice.
However, there are some legal formalities to follow during the sale or purchase of any vehicle. One such document is the Maryland vehicle bill of sale. This document serves as proof of vehicle ownership transfer and can be used in future correspondence.
With this document, the buyer becomes the sole owner of the vehicle and hence is responsible for any illegal use of the car. To save yourself from some unwanted situations, it is essential to have a clearly signed bill of sale containing complete details of the seller and the buyer.
How to Register a Vehicle in Maryland?
Whether you bring your car from another state or purchase a vehicle from a dealer or private agent in Maryland, you will have to visit the Maryland Vehicle Administration.
If the vehicle is brought from another state, you will need:
- Your vehicle title that it was registered in and apply for the certificate of title.
- A security filing statement is also required along with the inception certificate from the state of Maryland.
- It is crucial to have a power of attorney if the vehicle is registered in somebody else’s name.
If the car is bought in the state of Maryland through a car dealer, you will need:
- A complete application for the certificate of title is needed.
- Insurance information, along with documents of ownership is a must.
- Information regarding the odometer along with the safety inspection certificate of Maryland, is called for.
Moreover, if the car is bought through a private agent, you will need to have:
- The current title with your name over it.
- Maryland safety certificate.
- The application for the certificate of title.
- An odometer disclosure statement.
- The bill of sale is also needed.
What Is Included in a Maryland Vehicle Bill of Sale?
Maryland vehicle bill of sale includes various information about the buyer and the vehicle that is being bought. The essential elements of this bill are:
- The key dates; the day the vehicle bill of sale was issued, the due date, and the time of the signature in the presence of a notary.
- It is also important to mention the state and the city name, the zip code, and the state identification number or a license number. All of this is required to show the legality and authenticity of the issued bill.
- Another important element that is needed is the description of the vehicle being sold; It is necessary to mention the model number, registration number along with serial number if there is any.
- You also need to jot down the model, colour, number plate, and any other information regarding the vehicle that is being bought.
- A vital step to include in the Maryland vehicle bill of sale is to sign the bill in the presence of a notary.
How to Sell a Car in Maryland?
You will need to do the following things for selling your car in Maryland:
- The foremost thing to do while putting up any vehicle for sale is to make sure it goes through the car safety inspection, which can be done by any dealer or service station in the state of Maryland. The inspection certificate is valid for 90 days.
- Next step is to fill in the Maryland vehicle bill of sale. This document includes a detailed description of the vehicle being sold from its model to its identification number, the name of the buyer and the seller, the amount it is being sold at and if it is lower than the market price, the reason should be stated and the reading of the odometer.
- After the agreement has been made, it’s vital for both parties to put their signature on it.
To avoid unwanted legal consequences, the seller and the buyer need to make sure that all the information entered should be correct and accurate.
Maryland vehicle bill of sale is a crucial step in buying or selling a car in Maryland. It serves as proof to show the legality of the vehicle to the law and avoid any misunderstandings.
If you are still having any trouble or are busy with your workload, you can visit the CocoSign website to find the templates regarding Maryland vehicle bill of sale.
We have got everything ready for you; all you need to do is fill the form with the right information. CocoSign also has a collection of other business documents that you may want to have a look at.