The RV-F1301201 form, issued by the Tennessee Department of Revenue, serves as a crucial affidavit for non-dealer transfers of motor vehicles and boats. This comprehensive document ensures that private transactions between individuals are properly recorded and taxed according to state law. It caters to various scenarios, including lineal relative transfers, which cover a wide range of family connections such as spouses, siblings, children, and grandparents, among others. Additionally, it accommodates the transfer of items as gifts or at low selling prices to individuals not related in lineal fashion, specifying that a low selling price is judged as 75% or less of the fair market value according to authoritative automotive pricing guides. The form requires detailed information about the seller and buyer, vehicle or boat specifics, and the financial aspects of the transaction, like the sale price, existence of any liens, and precise nature of the consideration involved. This affidavit not only aids in the transparent reporting of the transfer but also plays a vital role in the calculation and assessment of sales tax, thereby helping to prevent potential legal and financial discrepancies. By mandating the accurate reporting of these transactions, the RV-F1301201 form mitigates the risks of underreported sales and ensures that both parties comply with Tennessee's tax obligations.
Question | Answer |
---|---|
Form Name | Form Rv F1301201 |
Form Length | 1 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 15 sec |
Other names | AFFADAVIT OF TRANSFER lineal relative transfer form |
Tennessee Department of Revenue
AFFADAVIT OF
Lineal relative transfer (Persons qualified when related to transfer as: spouse, sibling, child, grandchild, great grandchild, parent, grandparent, great grandparent, and spouse of lineal relative)
Gift transfer or low selling price to person other than lineal relative (Low selling price is considered to be 75% or less of the fair market value by reference to the most recent issue of an authoritative automotive pricing manual, such as the N.A.D.A. Official Used Car Guide, SE Edition)
Seller of Transferor |
Purchaser of Transferee |
(Please Print) |
(Please Print) |
Name: _________________________________________ |
Name: _________________________________________ |
Address: ________________________________________ |
Address: ________________________________________ |
City,State,Zip: ___________________________________ |
City,State,Zip: ___________________________________ |
Phone: _________________________________________ |
Phone: _________________________________________ |
FEIN or Drivers License No. ________________________ |
FEIN or Drivers License No. ________________________ |
Vehicle or Boat Information (To be completed by seller or transferor):
____________ |
____________________________________ |
_____________________________________________ |
|
Year |
Make |
|
(VIN or Serial No.) |
Date of Sale: _____________________ |
Fair Market Value of the vehicle $ __________________________________ |
||
Is there a lien? Y/N ________________ |
If yes, what is the amount of the outstanding lien? ______________________ |
If yes, who is the lienholder? ______________________________________________________________________________
If applicable, please state the relationship between seller or Transferor and Purchaser or Transferee: _____________________
This box to be completed if gift or low selling price only
Considerations involved in the transfer: (Please check all that apply)
__________Money involved: |
$_____________________________ |
__________Loan Assumption, loan |
$_____________________________ |
__________Services or labor performed: Value: |
$_____________________________ |
__________Other: (Explain) ______________________________________________________________________________
credit for
Year Make(VIN or Serial No.)
Total Sales Price: $__________________________ (The sales price is the total amount of consideration paid by the purchaser
or transferee, including any paid to a third party, such as lienholder. If no consideration was given for the transfer, then the amount of the sales price is $0.)
If the sales price is lower than the average value please indicate the reason for the low price: ___________________________
______________________________________________________________________________________________________
Under the penalties of perjury, I swear that the foregoing information is true and correct to the best of my knowledge, information and belief, and this document correctly state the total amount of consideration for the transfer of this vehicle or boat. I understand that failure to report proper consideration for the sale or transfer of the aforementioned vehicle or boat may result in assessment of applicable sales tax, penalty and interest against the purchaser.
__________________________________________________ |
__________________________________________________ |
||
Seller or Transferor’ s Signature(s) |
Date |
Purchaser or Transferee’ s Signature(s) |
Date |