hey guys,

Im about to sell my car and i wanted to know if there are any other sheets that i should have the buyer sign stating that im in no way responsible for anything after the deal is made or is the DMW bill of Sale sufficient? I just don't want the buyer coming back and trying to sue me if something happens to his car down the road.

Also the buyer is asking me to send the bill of sale through the mail so he can take it to the bank as proof so they can authorize the loan. Is this usually how it works? Ive never sold a car before so this is a new experience for me.

Thanks
Ash

 

bill of sale, release of liability

That's it.

 

is the release of liability a special form, do you happen to have a sample if it is?

 

It all depends on how the contract is drafted. If you are really concerned and want to be double sure find an attorney to draft one for you. Generally you need to specify that the previous owner is free from all liability after the change of title, as well as the previous owner releases all claim of title of the vehicle. Broad statements like this don't always hold up in court, but they generally are the type of statements that are upheld.

OP, check on the website of your DMV or MVA. They usually have example bills of sale and templates for private sales. The website usually specifies what is needed in that state for the transfer of title.

 

The release of liability is a generic form that the DMV provides. You just fill it out and drop it in a box they have at the DMV within 5 days of the sale.

What it does is say that you're not liable for the car any longer, because it has been sold. E.g., if the car runs a red light intersection, you're not liable, because you are no longer the owner.

 

Be sure you fill out the release of liability.... I learned this the hard way.

 

thanks for all the help guys, i ended up printing up my own release of liability form and ill just have the buyer sign it

 

I don't know of any states where private party used car sales are not implied as-is sales. What implied as-is sale means is even if you don't say the car is as-is, or have the buyer sign something that says the car is as-is, the law assumes the car is sold as-is. You just have to be careful what you put in your ad. If you put specific claims about the car in your ad, such as "tires 80%," "new brakes," "mechanically perfect," etc., those are considered implied warranties in many cases. However, if you just said "runs and drives great," that is subjective and is not an implied warranty.

If you are concerned about the buyer coming back later with claims that something is wrong with the car, you should type up a statement saying that the car is being sold as-is with no warranties express or implied. You should have the buyer get this statement notarized and send it back to you. If you do this you will need to add a notarial certificate at the bottom of the page, as a notary public cannot simply sign and stamp a form. I would suggest typing up something like the following:

************************************************** ******

One (insert vehicle year/make/model/VIN) is being sold by (insert your name here) to (insert buyer's name here) for (insert selling price here) on (insert date here). The aforementioned vehicle is being sold as-is with no warranties express or implied. (insert buyer's name here) agrees to indemnify and hold harmless (insert your name here) from any claim, action, liability, loss, damage, or suit, arising from the aforementioned vehicle.

______________________________
(buyer's printed name)


______________________________ ____________ (date)
(buyer's signature)

State of ________.

County of _________.

This instrument was acknowledged before me on this _____ day of__________, 20____, by _________________ (name of person)



___________________
(signature of notary)

My commission expires _____________ (date)




______________________________
(seller's printed name)


______________________________ ____________ (date)
(seller's signature)

State of ________.

County of _________.

This instrument was acknowledged before me on this _____ day of__________, 20____, by _________________ (name of person)



___________________
(signature of notary)

My commission expires _____________ (date)

************************************************** *******

Please note that this form is only a suggestion and should not be construed as legal advice, as I am not an attorney. I am a loan officer, and a notary public for the State of Oregon. Requirements for notarial certificates may vary in your state. Please consult with a notary public in your state or refer to your states secretary of state for information on specific notarial requirements.