Bill Of Sale Notice Of Transfer Of Ownership: Fill & Download for Free

I have worked in the accounting office of a car dealership for 6 1/2 years, and where I work I am personally responsible for trade-in payoffs. Here’s my two cents:First, I do understand why you see it as odd that the vehicle is already marked as For Sale. Since the vehicle hasn’t been paid off yet, they do not have the title yet, but unfortunately the sales department’s idea of turnaround time is different than the business office because they are looking for the next sale as quick as possible. I run into this a lot; deals or auction bill of sales that I am waiting on titles for; however, this doesn’t necessarily mean there’s a scam.In regards to paying off the vehicle, there are quite a few factors. One being that your new deal has to be funded and the funding lien holder must have deposited the funds into the dealership’s account in order for the deal to be considered 100% legitimate and approved. There are many delays to this due to customer interviews, employment verification, social security number verification, residential verification, contracts needing adjusting from finance, typos needing to be corrected, different banks have different response and follow-through time frames, and COVID has increased the wait time for banks to fund deals. The dealer is responsible for any late fees that accrue as a result of payoff delays, or if you make a payment, either the dealer or the lien holder is supposed to refund you back. Technically, if your current vehicle purchase isn’t funded and approved by the new lien holder, then the dealership cannot legally pay off the trade. Because if your deal falls through and “dies”, then you will have to return the car and take back the traded in vehicle, in which case the dealership would refund you any down money, the contract will become null and void, and you would still be liable for the car payments of the trade. Your payoff amount is bundled into the cost of the new vehicle unless you own the car outright, in which case the total value of the car is deducted from your new vehicle’s cost. I should also note that once you trade the car in, the car is still technically owned by you until the dealer transfers ownership, and that cannot be done without the title. This is coming from me working for a reputable company. I cannot speak on behalf of any low brow or shady dealers, but what I have mentioned is how it is supposed to happen.You have the right to ask about the payoff and you have a right to know the status of your current deal.I will also say, based on my experience, that no one should EVER SIGN ANYTHING without reading it. And ALWAYS check the spelling of your name and address. ALWAYS demand, as the consumer, that you are provided with a bill of sale. I see careless mistakes and angry customers as a result of this much more than I should. Hope this helps.

What is transfer of ownership of Vehicle and Why we need this ?When a person Sell / Purchase a motor Vehicle then the buyer will have to transfer the ownership of vehicle to their own name and address.In order to get your transfered to your own name , Applicant will have to apply to their concernedRTA.Transfer of ownership is required whenever you sale the vehicle.Office: RTA officeHow do I get Transfer of Ownership?Documents Required:Original registration certificate.Form no.29 (notice of transfer of ownership of a motor vehicle)& 30 (Report of transfer of ownership of a Motor Vehicle) with seller and buyer single photograph and duly signed. ( may change appl form nos State to State )In case vehicle registered from other authority form no.28 with no objection.Residential Certificate (voter card/ passport/ telephone/electricity bill/ ration card) etc. attach any two attested copies.police verification/ NOC if other states transferValid insurance & pollution photo copy.Self declaration certificate from seller and buyer.Valid fee.

If you mean the title for a vehicle, you need to have a bill of sale indicating the transfer of ownership and then go to the MVD to get the title transferred. The MVD website should tell you what you need to know, www.servicearizona.com,Actually, the link directly to the online sold notice is Submit a Vehicle Sold Notice Online