An Arkansas motor vehicle bill of sale is a legal document that shows tangible proof of a sale between a buyer and seller. It helps the people in Arkansas to conduct genuine transactions when selling or buying a motor vehicle. The bill of sale shows the proof of ownership and the transfer details from one party to another. You might need this document during vehicle registration and notarization. After agreeing, both parties must fill out the motor vehicle bill of sale form.
Arkansas bill of sale templates – discover other bill of sale forms for Arkansas with instructions.
Take note that registration should commence no later than 15 days after the actual transfer date. If you want to register your car out of the state or for the first time, your newly acquired vehicle will undergo a Vehicle Identification Inspection (VIN). It is a mandatory procedure that confirms the validity of the car – registration details, origin, and motor vehicle parts.
Then, proceed to the local Department Revenue Office at your county to get registration documents, which are classified according to the nature of the purchase. Did you buy it from a private individual, car dealer, or on lease?
If you bought the vehicle from a private party, you must fill a Vehicle Registration Application (Form 1-381). It is a compulsory document for processing the title and vehicle registration. On the other hand, the Manufacturer’s Certificate of Origin (MCO) is required if you bought from a car dealer. And if you are leasing the vehicle, you must submit the lease agreement copy, signed by both parties.
As for the manufacturing year, a vehicle that is below ten years old requires you to fill in an Odometer Disclosure Statement Form (Form 10-313), or you can write the reading on the back of the title.
After buying the car, you must take it for assessment at the county office. The county assessor will then issue you with a document that proves the assessment took place at a particular date within the same year of the sale. You have to submit the assessment documentation at the registration office.
You must also produce an insurance certificate from a legit insurance company operating in Arkansas. Another essential document is a tax compliance certificate that proves you have been paying your personal property taxes on time, without evading. Don’t forget to produce the current Arkansas registration certificate, which is also mandatory in processing the new title of ownership.
It is imperative to note that the purchaser will pay all the registration costs for the newly acquired vehicle after completing the bill of sale template successfully.
In a nutshell, the documents below are necessary for a successful registration:
After personally presenting all of the documents at the revenue office, the registration process will be considered complete and you will get the new title and license plates.
Here, you may find the instructions developed by using the template made by our specialists. We strongly suggest using the local official version when possible.
Step 1: Indicate the bill of sale creation date.
Step 2: Enter the information of both parties (buyer and seller):
Step 3: Identify the motor vehicle being sold:
Step 4: Now, you should specify the way in which you’ll be given money for the vehicle.
This stage also involves specifying the date of the transaction and the overall sum approved by all parties of the transfer. Then, decide on one selling method:
The next step is choosing the type of payment:
The final thing to do within this section would be to select whether all applicable taxes are included in the purchase price.
Step 5: Review the miscellaneous provisions.
They generally say that the buyer acquires the property in “as-is” condition and is responsible for it after the transaction is completed.
Step 6: Place your signature(s) in the appropriate fields.
The buyer is usually not required to sign the form. Nonetheless, you’re more protected from legal troubles if all sides sign the document. You can additionally have one or a few witnesses verify the transaction.
Step 7: Have a notary public certify the form
Notarization is normally not needed, but it is a good approach to add one more layer of legal safety to your transaction.
The original document copy must be given to the purchaser as they’ll need it to receive a title to their newly bought vehicle. As a seller, you may either make a copy and keep it or have a pair of identical forms signed and completed by all parties.