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Commonly Asked Questions about Odometer Statement Legal Forms

PURPOSE: Federal and state law require both seller (transferor) and buyer (transferee) to accurately state the mileage of any used motor vehicle, with a manufacture year of 2011 or newer, in connection with the transfer of ownership whether sale, trade-in or exchange.
Federal and state law requires that you state the mileage upon transfer of ownership; failure to complete or providing a false statement may result in fines and/or imprisonment.
Due to a federal rule change by NHTSA late last year, beginning January 1, 2021 odometer disclosures will be required for every sale or transfer for the first 20 years of a vehicles life, as opposed to the first 10 years as it is today. NEW FEDERAL ODOMETER DISCLOSURE RULES sunflowerautoauction.com docs odomete sunflowerautoauction.com docs odomete
The odometer disclosure should contain: The complete vehicle description (make, year model, body type, and vehicle identification number). The date of sale. Reference to federal and state law with the following or similar wording:
An odometer disclosure statement is a federally required form used to verify a leased vehicles mileage at the end of the term. This is typically needed when you return, purchase, or trade a leased vehicle.
Federal law requires you to share the odometer mileage in conjunction with the transfer of ownership. Failure to complete or provide a false statement may result in fines and/or imprisonment.
The transferee, when applying for a title, is required to provide the transferors (sellers) title, and if that title contains a space for the ( print page 52667) transferor to disclose the vehicles mileage, that information must be included, and the statement must be signed and dated by the transferor.
(a) At the time a physical or electronic title is issued or made available to the transferee, it must contain the mileage disclosed by the transferor when ownership of the vehicle was transferred and contain a space for the information required to be disclosed under paragraphs (c) through (f) of this section at the