What is a Mississippi Bill of Sale?
Whether you are buying privately or heading to the nearest dealership, a bill of sale is an important document to consider when purchasing any vehicle. The motor vehicle bill of sale outlines the specific details about a car being sold, and it transfers ownership from the seller to the purchaser. A generic contract that adheres to state guidelines can be used, or your state may have a specific form available online.Showing proof of ownership, the DMV bill of sale is often used to obtain a new Certificate of Title or to register the vehicle in the new owner’s name. However, a bill of sale does not take the place of a car title. Information contained in the sale document, such as make, model, year and mileage, are sometimes used to calculate the amount of sales or use taxes in your state.
Is a Motor Vehicle Bill of Sale Necessary in MS?
Dealers in Mississippi will often use an invoice, as opposed to a motor vehicle bill of sale, which will contain the same basic information regarding the buyer, seller and vehicle information. This can be used as the bill of sale and presented to obtain a Certificate of Title, registration and tag for the new vehicle.
When buying from a private owner, a generic DMV bill of sale should be brought along and completed at the time of the transaction. In addition to the bill of sale, the seller must also provide the purchaser with the current Certificate of Title pertaining to the vehicle. The Certificate of Title should also be signed by both parties involved in the transaction.
DMV Bill of Sale Information
As a purchaser or a seller, information that should appear on the motor vehicle bill of sale includes:
- The name and address of the seller and the purchaser
- Amount paid to the seller
- Accurate odometer reading
- Vehicle Identification Number (VIN)
- Make, model, year, series number, body type
- Date of sale
- Seller and purchaser signatures