Before a car title can be transferred to another person, you must provide proof to the Department of Motor Vehicle (DMV) that states that both parties are satisfied. Whether you do this yourself or use the services of a title company, you need to make sure you have all the necessary paperwork for the process to go smoothly and quickly. One of the documents needed is called a “bill of sale.” This document outlines the details of the sale. It may include a description of the vehicle, its current operating condition, as well as the terms of the sale. Many buyers and sellers are comfortable with this and it is not a big deal. Most of the time, a verbal contract is not adequate to get a title transferred. Putting the agreement in writing protects both parties. You can purchase this type of document online, or you can write it yourself. If you do this, make sure you know what is required to be on the bill of sale in your state.
Published in by CARCHEX on November 13, 2014