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No, the Release of Liability Form and the Bill of Sale serve different purposes. The Release of Liability Form frees you from any future responsibilities, while the Bill of Sale documents the actual transaction between you and the buyer.
What happens if you dont fill out the release of liability?
Legality aside, failure to submit a Release of Liability document on time can result in the seller being held accountable for traffic violations, parking tickets, and unpaid toll fees accumulated by the new owner.
What does a DMV release of liability do?
Description. Sold your vehicle? Completing a Notice of Transfer and Release of Liability (NRL) lets DMV know that you are no longer responsible for parking/traffic violations or civil or criminal actions associated with the vehicle after the date of sale.
What is the purpose of the release of liability?
A release of liability, also known as a liability waiver or a hold harmless agreement, is a contract in which one party agrees not to hold another party liable for damages or injury. These contracts are common in fields that involve some risk to property, finances, or health.
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Jun 11, 2009 Notice of Release of Liability. Use DMV REG 138 (REV.8/98) Form or Facsimile such as below. A. Buyer(s) True Full Name: Last, First, Middle.
the release button or pull the release lever at the same time you use the emergency brake so you can adjust the brake pressure and keep the wheels from
Failure to title a vehicle within 30 days from the date of sale may result in delinquent transfer penalties. You must provide proof of liability insurance when
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