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This form is primarily required for registered vehicle dealers in Indiana who are transferring ownership of a vehicle to a purchaser. It is essential for situations where a dealer sells a vehicle that may have an out-of-state title or an Indiana title with limited reassignments. For instance, if a dealer acquires a used car from another dealer and intends to sell it to a consumer, they must use this form to document the transfer legally. Additionally, it serves as proof of sale and helps maintain accurate records for both the dealer and the buyer.
To file State Form 20070, dealers must ensure that they complete the form accurately and submit it at the time of sale. The form cannot be used for transactions involving certain titles, such as those printed after September 1989 or titles with three dealer reassignments. Dealers should also be aware that there are no specific deadlines for submitting this form; however, it should be completed promptly during the sale process to avoid complications.
Submitting State Form 20070 involves several straightforward steps. First, obtain the template from DocHub's library or directly from the Indiana Bureau of Motor Vehicles (BMV). Next, fill out all required sections accurately, ensuring all information is correct before signing. Once completed, you can either print the form and deliver it in person to the appropriate titling agency or submit it electronically if allowed by local regulations. Ensure you keep copies for your records.
When completing State Form 20070, it's crucial to ensure that all information provided is accurate and truthful. Misrepresentation on this document can lead to legal consequences such as fines or charges of perjury. Additionally, while this form aids in documenting vehicle transfers between dealers and purchasers, it does not guarantee acceptance by other jurisdictions' titling agencies; thus verifying local requirements is advisable.
