The Oklahoma vehicle bill of sale is defined as a legalized document which declares that a person who is the seller of a vehicle has lawfully sold the vehicle to the buyer. This form is notarized.
Besides, it is important to mention that Federal law requires an Odometer Disclosure Statement (Form 729) along with the Oklahoma bill of sale to aid the registration process of the bought vehicle.
How to Register a Vehicle in Oklahoma?
After purchasing the vehicle, the buyer exercises the process of registration and titling before driving it out on the roads of Oklahoma state. The buyer can locate an Oklahoma Tax Commission office and carry the registration process out in person.
Following documents are required to register a motor vehicle in Oklahoma State:
- Completely filled Application for Oklahoma Certificate of Title for a Vehicle (Form 701-6).
- Completely filled Oklahoma Vehicle Bill of Sale form.
- The driver’s license.
- A certificate of manufacturer declaring the origin for a new vehicle or a current title that has been transferred to the buyer.
- Buyer's proof of the Oklahoma car Insurance.
- Document of Lien, if the vehicle is being financed.
- The state of odometer disclosure, if the car is older than 9 years or less.
- If the vehicle is bought or operated in another state, a tag agent will ensure to perform an inspection of Vehicle Identification Number (VIN) and odometer before the issuance of a title certificate via OTC.
What Is Included In an Oklahoma Vehicle Bill of Sale?
The Oklahoma Vehicle Bill of Sale includes the following key elements:
Information of Seller and Buyer
This section includes the basic information of both involved parties i.e.
- Full Name
- Driver’s License Number
- Complete Physical Address
- City
- State
Information on the Vehicle
This section includes the necessary information of the sold vehicle i.e.
- Make
- Model/Type
- Vehicle Identification Number (VIN)
- Color
- Odometer Reading in miles
- A checkbox for 'Will the title be included with the sale?' question
Miscellaneous Information
This part includes vital information regarding the price and date of sale:
- In case of cash payment, enter the amount in words.
- Now, enter the amount of agreed selling price in numbers.
- Write the official date of agreement in the format of 'MM/DD/YYYY'.
- Write the official date of payment in the format of 'MM/DD/YYYY'.
- If there is a variation in the date of payment, explicitly mention the date in the format of 'MM/DD/YYYY'.
- Provide a brief description of what the agreement is about.
- Do not forget to check the box if the vehicle is being gifted.
- Give brief details in the last box about the trade agreement.
Disclosure of Seller
The seller reads the whole document and mentions any defects in the vehicle.
Signature Section
This section includes the authorized signature and printed names of the buyer, seller, and the witness in the respective order.
Notarization
The certified notary will affix the seal of state to complete the form filling process. Copies are made of the Oklahoma Vehicle Bill of Sale document and the original one is given to the buyer.
How to Sell a Vehicle in Oklahoma?
Selling a vehicle requires skills and techniques. Following are the set of guidelines to sell a vehicle in Oklahoma:
Step 1: The seller must acquire a title certificate and an official notary.
Step 2: The seller shall make sure that any remaining lien is released.
Step 3: The seller is required to obtain an odometer disclosure statement.
Step 4: The seller must submit a bill of sale to the buyer.
Additionally, the selling process will be completed upon submission of the following information:
- The title given by the owner along with the basic information about the seller and buyer including the address and full name.
- The documents and information regarding the sold vehicle and a vehicle transfer application.
- The proof of purchase price by using this Declaration of Vehicle Purchase Price is required to be submitted and a purchase contract is being offered by the seller.
- Any active lien should be released as soon as possible in order to avoid transferring the vehicle with active liens.
Conclusion
The Oklahoma vehicle bill of sale is a document that legalizes the selling and buying of a motor vehicle by acting as a proof of rightful ownership. If you are thinking of selling your vehicle or property in Oklahoma, you can get a well-drafted template at CocoSign.