For the legal sale of a motor vehicle, buyers and sellers will need to fill out the Michigan vehicle bill of sale (form TR-207). The bill of sale form notes a legal change of ownership and is required to complete vehicle registration. Michigan requires that this document is signed in the presence of a notary public, so both parties must hold off on signatures until a notary can make it official.
Buyers will need to secure an Odometer Disclosure Statement (form BVDR-108) to verify that the odometer was read correctly and that the record shows the actual mileage of the vehicle with a corresponding vehicle identification number (VIN) at the time of purchase. Both of the previously mentioned forms must be filled out and handed to the Secretary of State’s Office nearest to you no later than 15 days after the certified date of purchase.
Michigan bill of sale templates – browse bills of sale for other property types in Michigan.
All vehicles in Michigan must be registered for their new owners to operate them on the highways and roads of the state legally. Registration certifies that it is legally operable and insured in Michigan. Because there are details needed from both the buyer and seller, it is highly recommended that both parties present themselves at the time of registration if possible. Included in the list of documents that buyers will need to complete the purchase are:
Motor vehicle registration fees are $8 and title fees are $15. New owners must also pay a $5 mandatory fee for a standard set of license plates. As far as recreational motor vehicles are concerned, snowmobiles come with a fee of $30 for registration, which is valid for three years, and mopeds are charged $15 for a three-year registration. Trailers and coaches that have a weight higher than 10,000 pounds cost $300 at the time of registration and are subject to renewals every year. As for taxes, Michigan has a state-wide tax of 6% on motor vehicles. This tax is calculated using the purchase price of the vehicle or the blue book value of the car at the time of purchase. The greater value is chosen for the calculation of tax deductions.
Here, you’ll see the instructions compiled by drawing upon the template developed by our professionals. We highly recommend using your local official form whenever possible.
Step 1: Specify the date when document is created and filled out.
Step 2: Provide the particulars of both parties (buyer and seller):
Step 3: Describe the vehicle being sold:
Step 4: At this point, you need to choose the way you’ll get money for the offer.
Type in the purchase date and state the total amount that must be paid for the vehicle. As soon as that’s been handled, you should indicate the way of transaction:
Now, indicate how the buyer is going to pay:
The final thing to complete in this particular section is to determine whether all applicable taxes are included in the purchase price.
Step 5: Read through the miscellaneous provisions.
This part typically contains the “as-is” provision that means the object is sold without a warranty.
Step 6: Now, the filled out bill of sale must be signed.
The purchaser is generally not required to sign the bill of sale. However, it’s recommended to have the form signed by all sides. As an extra precaution, you could have one or two individuals attest the process and sign the bill of sale.
Step 7: Have a notary public attest the bill of sale
With this, you will have more legal protection. But, this step is typically completely elective.
The buyer needs to have the original bill of sale because it’s frequently needed during the title transfer. As a seller, you could either make a copy and store it or have two identical documents signed and filled out by both parties.