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When buying or selling a vehicle in Texas, one important document that comes into play is the Texas Odometer Statement form, officially known as VTR-40. This form is crucial for ensuring that both parties involved in the transaction are aware of the vehicle's mileage, as federal and state laws mandate accurate odometer disclosures during ownership transfers. Sellers must provide their name and certify the odometer reading to the best of their knowledge, stating whether the mileage reflects the actual distance driven or if it has exceeded mechanical limits. In addition to the seller's certification, the form requires the buyer or their agent to acknowledge the odometer information presented. It is essential to note that this form cannot be used in conjunction with title transfer documents that already meet federal and state odometer disclosure requirements, particularly for titles issued on or after April 29, 1990. Failing to complete the form accurately or providing false information can lead to serious consequences, including fines and potential imprisonment. Therefore, understanding the Texas Odometer Statement is vital for both buyers and sellers to ensure a smooth and legal vehicle transaction.
How to Write Texas Odometer Statement
Once you have the Texas Odometer Statement form in hand, you will need to provide specific information about the vehicle and the parties involved in the transaction. This form must be filled out accurately to ensure compliance with state and federal laws regarding vehicle ownership transfers.
- Begin by entering the Seller/Agent Name at the top of the form.
- Fill in the Vehicle Description section with the following details:
- Year of the vehicle
- Make of the vehicle
- Body Style (e.g., sedan, SUV)
- Model of the vehicle
- Vehicle Identification Number (VIN)
- Provide the Odometer Reading (without tenths) in the designated space.
- Certify the odometer reading by signing your name in the Signature of Seller/Agent section.
- Print your name in the Printed Name section, ensuring it matches your signature.
- If the vehicle is titled in a firm’s name, write the firm’s name in the appropriate line.
- Complete your Street Address, City, State, and Zip Code.
- In the Acknowledgment of Odometer Disclosure by Buyer/Agent section, the buyer or agent must sign and date the form.
- The buyer or agent should print their name in the Printed Name section, matching their signature.
- If purchased by a firm, print the firm’s name on the line provided.
- Lastly, fill in the Street Address, City, State, and Zip Code for the buyer or agent.
Misconceptions
Misconceptions about the Texas Odometer Statement form can lead to confusion for both buyers and sellers. Understanding these misconceptions is crucial for compliance with the law and for ensuring a smooth vehicle transfer process.
- The Texas Odometer Statement can be used with any title transfer documents. This is incorrect. The form cannot be used in conjunction with title transfer documents that already comply with federal and state odometer disclosure requirements, such as the Texas Certificate of Title issued on or after April 29, 1990.
- Only the seller needs to complete the Odometer Statement. This is a misconception. Both the seller and the buyer must acknowledge the odometer disclosure. The buyer or their agent must also sign the statement, indicating awareness of the odometer certification made by the seller.
- The Odometer Statement is optional for vehicle transfers. This is false. Federal and state laws require that the mileage be stated during the transfer of ownership. Failing to complete the form or providing false information may lead to fines or imprisonment.
- It is acceptable to provide an estimated mileage on the Odometer Statement. This is misleading. The seller must certify that the odometer reading is the actual mileage of the vehicle unless specific conditions, such as mechanical limits or discrepancies, are checked. Providing an estimated mileage can lead to legal repercussions.
Texas Odometer Statement Example
(Seller/Agent Name)
ODOMETER DISCLOSURE
STATEMENT
DHT # 142235
Federal and State Law require that you state the mileage in connection with the transfer of ownership. Failure to complete or providing a false statement may result in fines and/or imprisonment. This form may not be used in conjunction with title transfer documents, which comply with federal and state odometer disclosure requirements such as Texas Certificate of Titles issued on or after April 29, 1990.
VEHICLE DESCRIPTION
Year
Make
Body Style
Model
Vehicle Identification Number
I, ______________________________________________, certify to the best of my knowledge that the odometer reading is
the actual mileage of the vehicle described above unless one of the following statements is checked:
Odometer
Reading |
(No Tenths) |
1.The mileage stated is in excess of its mechanical limits.
2.The odometer reading is not the actual mileage.
WARNING – ODOMETER DISCREPANCY.
Date ofSignature of Seller/AgentPrinted Name (Same as Signature) Statement
If titled in a firm’s name, print the firm’s name on the line above.
Street Address |
City |
State |
Zip Code |
ACKNOWLEDGMENT OF ODOMETER DISCLOSURE BY BUYER/AGENT
I am aware of the above odometer certification made by the seller/agent.
Date of |
Signature of Buyer/Agent |
Printed Name (Same as Signature) |
Statement |
|
|
If purchased by a firm, print the firm’s name on the line above.
Street Address |
City |
State |
Zip Code |
WARNING: TRANSPORTATION CODE, §501.155, PROVIDES THAT FALSIFYING INFORMATION ON ANY REQUIRED STATEMENT OR APPLICATION IS A
Key takeaways
When filling out the Texas Odometer Statement form, there are several important points to keep in mind. Understanding these key takeaways can help ensure a smooth transaction when transferring vehicle ownership.
- Legal Requirement: Both federal and state laws mandate that the odometer reading must be accurately stated during the transfer of vehicle ownership. This requirement is crucial for maintaining transparency and trust between the seller and buyer.
- Consequences of Inaccuracy: Providing false information or failing to complete the form can lead to serious penalties, including fines and potential imprisonment. It is vital to provide truthful and accurate information.
- Not for Title Transfers: This form cannot be used alongside title transfer documents that already meet odometer disclosure requirements. Ensure that you are using the correct form for your specific transaction.
- Odometer Reading Options: When filling out the form, you must indicate the odometer reading and check one of the options if applicable. This includes confirming whether the mileage is accurate or if there are discrepancies.
- Buyer's Acknowledgment: The buyer or their agent must also sign the form, acknowledging the odometer disclosure made by the seller. This step is essential for validating the transaction and protecting both parties.
By keeping these takeaways in mind, individuals can navigate the process of completing the Texas Odometer Statement form more effectively, ensuring compliance with legal requirements and fostering trust in the vehicle transfer process.
Different PDF Templates
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Dos and Don'ts
When filling out the Texas Odometer Statement form, it is essential to follow specific guidelines to ensure accuracy and compliance. Here are eight important dos and don'ts:
- Do provide the correct odometer reading without any tenths.
- Don't leave any fields blank; complete all required sections.
- Do check the appropriate box if the odometer reading is not accurate or exceeds mechanical limits.
- Don't falsify any information; this can lead to serious legal consequences.
- Do sign and date the form to confirm your acknowledgment of the odometer disclosure.
- Don't forget to print your name clearly beneath your signature.
- Do ensure that the vehicle identification number (VIN) is correct and matches the vehicle.
- Don't use this form for title transfers that do not comply with federal and state requirements.
Similar forms
The Bill of Sale is a document that serves as proof of the transfer of ownership of a vehicle. Like the Texas Odometer Statement, it includes essential details about the vehicle, such as the make, model, and Vehicle Identification Number (VIN). Both documents require the seller to provide accurate information to prevent fraud. While the Bill of Sale primarily focuses on the transaction details, the Odometer Statement specifically addresses the mileage, ensuring that buyers are aware of any discrepancies in the vehicle's mileage history.
The Title Application is another important document similar to the Texas Odometer Statement. When a buyer applies for a new title after purchasing a vehicle, they must provide information about the vehicle, including its odometer reading. Both documents aim to protect consumers by ensuring that they receive clear and truthful information about the vehicle’s condition. However, the Title Application is more comprehensive, covering ownership details and registration, while the Odometer Statement zeroes in on mileage disclosure.
The Vehicle Registration form is also comparable to the Texas Odometer Statement. When registering a vehicle, the owner must disclose the odometer reading to the state. This requirement helps maintain accurate records and prevents odometer fraud. Both documents are crucial in the ownership transfer process, but the Vehicle Registration form encompasses a broader range of information, including the owner's details and the vehicle’s registration status.
The Manufacturer's Certificate of Origin (MCO) is similar in that it provides essential information about a vehicle’s history. This document is issued by the manufacturer and includes details like the VIN and the odometer reading at the time of sale. Both the MCO and the Texas Odometer Statement are important for establishing the vehicle's authenticity and ensuring accurate mileage disclosure. However, the MCO is primarily used for new vehicles, while the Odometer Statement is used during the resale process.
The Salvage Title document is another related form. When a vehicle has been deemed a total loss by an insurance company, it is issued a salvage title, which includes information about the vehicle’s condition and history. Similar to the Texas Odometer Statement, it provides critical information that can affect a buyer's decision. Both documents aim to protect consumers by ensuring they are informed about the vehicle’s past, although the Salvage Title focuses more on the vehicle's condition rather than just mileage.
To enhance your understanding of the purchasing process, it's essential to have access to key resources like the texasformsonline.com/free-rv-bill-of-sale-template/, which offers a comprehensive template for the RV Bill of Sale. This document aids in documenting the sale and transfer of ownership, ensuring all necessary details are captured for a valid transaction.
The Vehicle History Report is a document that offers a comprehensive overview of a vehicle's past, including accident history, service records, and odometer readings. Like the Texas Odometer Statement, it helps buyers make informed decisions by revealing potential issues with the vehicle. However, the Vehicle History Report is more extensive and may include information from multiple sources, whereas the Odometer Statement is a straightforward disclosure focused solely on mileage.
Finally, the Power of Attorney form can be seen as similar to the Texas Odometer Statement in that it allows one party to act on behalf of another in the transaction process. When a buyer or seller designates someone to handle the sale, the Power of Attorney may require the disclosure of the odometer reading. Both documents are vital for ensuring that the transaction proceeds smoothly and legally, though the Power of Attorney is more about the authority to act rather than the specifics of the vehicle's mileage.