Fillable Form Indiana Automobile Bill of Sale (Sold "As Is" Without Warranty)

What is an Indiana Automobile Bill of Sale?

An Indiana Automobile Bill of Sale is a legal document used to record the sale or transfer of ownership of a motor vehicle between a seller and a buyer in the state of Indiana. The bill of sale typically includes information such as the vehicle's make, model, year, VIN (Vehicle Identification Number), and the odometer reading at the time of sale.

This bill of sale Indiana serves as an essential record for both the buyer and the seller, outlining the terms of the transaction and protecting the interests of each person involved. The Indiana motor vehicle bill of sale acts as a crucial reference when it comes to the transfer of personal property, particularly those involving motor vehicles. Sale forms require detailed entries, and this particular sale form helps verify the exchange, confirming that sales tax has been addressed and tax paid is appropriately recorded. The Indiana Bureau often requires this documentation for the registration of motor vehicles, facilitating the payment of registration fees and ensuring compliance with state laws. In addition to the bill of sale, the following documents are essential: a valid title, an original certificate verifying ownership, and the driver's license of the new owner. These required documents are necessary for registering the vehicle and officially transferring the vehicle's identity from the previous owner to the new owner, ensuring that the gross retail procedures are accurately followed and legitimizing the ownership change.

How do I fill out an Indiana Automobile Bill of Sale?

A template for an IN Bill of Sale can be found here.

Seller’s Information

Enter the seller’s full name and the county of Indiana they reside in.

Promissory Note

Enter the amount indicated on the promissory note and the amount paid for the down payment of the vehicle.

Buyer’s Information

Enter the buyer’s full name and the county of Indiana that they reside or operate in.

Vehicle Details

Enter the following details about the vehicle:

• Make
• Model
• Body Type
• Year
• Vehicle Identification Number (VIN)

Warranty of Ownership

This section contains information about the warranty/ies associated with this transaction.

Disclaimer of all Other Warranties

This section states that the above warranties are the only ones that the buyer is accepting.

Additional Terms

Enter any additional terms of sale, or any additional details that need to be kept clear, such as emissions test results or any particular details about the vehicle manufacturer's certificate.

Signatures

Have the seller and the buyer sign the form and enter their names in the spaces provided.

County - Notary

Enter the county in which this form is being notarized.

Date Sworn

Enter the date that the form was sworn before the notary.

Notary Public

Enter the name of the notary, and have them stamp or sign the form in the space provided. Then enter the date that the notary’s commission expires.

Odometer Disclosure Statement

Name of Seller

Enter the name of the seller.

Odometer Reading

Enter the odometer reading of the vehicle. Then mark the line that indicates whether or not the odometer reading is the actual mileage of the vehicle.

Odometer Discrepancy

Enter the following details about the vehicle, if there are any discrepancies between them and the odometer:

• Make
• Model
• Body Type
• Year
• Vehicle Identification Number (VIN)

Buyer and Seller’s Details

Enter the following details about the buyer and the seller in the spaces provided:

• Full Name
• Address
• City
• State
• ZIP Code
• Signature

Acknowledgment

County

Enter the county that this form is being acknowledged in.

Date Sworn

Enter the date that the form was sworn and subscribed before the notary.

Notary Public

Enter the name of the notary, and have them stamp or sign the form in the space provided. Then enter the date that the notary’s commission expires.

Promissory Installment Note

County

Enter the county that this note is being made in.

Recitations

Enter the following information for the recitations:

• Date
• Borrower/Buyer’s Name
• Borrower/Buyer’s Address
• Payee/Seller’s Name
• Place for Payment
• Principal Amount
• Term
• Monthly Payments

Vehicle Details

Enter the following details about the vehicle:

• Make
• Model
• Body Type
• Year
• Vehicle Identification Number (VIN)

Transfer of Title

Mark the relevant line to indicate if the title to the vehicle will be retained by the seller, or if it will be transferred to the buyer. If the title will be transferred to the buyer, the security agreement form must be signed by the buyer.

Interest Rate

Mark the relevant line to indicate if the annual interest rate will be the maximum amount permitted by the laws of the commonwealth of Massachusetts, or if it will be set at a particular rate and will not be accrued on matured and unpaid amounts. If the latter is marked, enter the specific rate of interest.

Payment Terms

Enter the amount in equal monthly payments that must be made, as well as the principal amount that must be paid. Then enter the month and year that the first payment will be due.

Borrower’s Prepayment Right

This section contains details on the borrower's right to prepay this note in whole or in part.

Place for Payment

This section states that the borrower promises to pay the order of the payee at the designated place for payment and according to the terms for payment.

Default and Acceleration Clause

This section contains details on the default and acceleration clauses of the agreement.

Interest on Past Due Installments and Charges

This section contains details on all past due installments and charges.

Interest

This section contains details on the interest that will be applied to this form.

Form of Payment

This section provides details on the acceptable forms of payment.

Attorney’s Fees

This section states that in the event that this note is given to the military or law enforcement, the borrower will be the one to pay for all costs of collection and investment.

Severability

This section states that if any part of this agreement becomes unenforceable or invalid, it will not affect the validity of any other part of this agreement.

Binding Effect

This section states that this agreement will be binding for all parties involved as well as their heirs, legal representatives, and assigns.

Descriptive Headings

This section states that the headings used in this form are for convenience of reference only.

Construction

This section states that all pronouns used in this form will include either or both genders, singular or plural.

Governing Law

This section states that this form will be governed by the state of Massachusetts.

Execution

Enter the date that this form was executed.

Signatures

Have the payee/seller and the borrower/buyer sign the form in the spaces provided and enter their names.

Buyer and Seller Details

Enter the following details about the buyer and the seller in the spaces provided:

• Full Name
• Address
• City
• State
• ZIP Code
• Signature

Security Agreement

Date and Names of Parties Involved

Enter the date that this security agreement was made, then enter the name of the debtor and the secured party.

Security Interest

Enter the following details about the vehicle that the security interest will be applied to:

• Make
• Model
• Body Type
• Year
• Vehicle Identification Number (VIN)

Covenants

This section states that the debtor will retain and maintain insurance at all times with respect to all collateral damage.

Default

This section contains details on what would cause a bill to be considered to be in default.

Debtor’s Name and Signature

Enter the name and signature of the debtor in the spaces provided. Then enter the date that the form was signed.

Frequently Asked Questions (FAQs)

Is an Indiana Bill of Sale required to transfer ownership of a vehicle?

While the Bill of Sale is not required for all transactions, it is strongly recommended. It serves as proof of the sale and is needed for registering the vehicle and paying taxes.

Does a Bill of Sale transfer vehicle ownership in Indiana?

No, the Bill of Sale alone does not transfer ownership. The vehicle title must also be signed and transferred along with the Bill of Sale for the buyer to complete registration with the Department of Licensing (DOL).

Is notarization required for an Indiana Bill of Sale of Automobile?

Notarization is not required for the Bill of Sale in Indiana, but it can provide additional legal protection. Both parties can choose to notarize the document to prevent future disputes.

Can the Indiana Bill of Sale be handwritten?

Yes, a Indiana Bill of Sale can be handwritten as long as it contains all the required information. However, using a standardized form is recommended to ensure all necessary details are included.

Who keeps the original Bill of Sale in Indiana?

Typically, the buyer keeps the original Bill of Sale for registration purposes, and the seller retains a copy. Both parties should keep their copies as proof of the transaction.

What is the purpose of the Vehicle Identification Number (VIN) on the Bill of Sale?

The VIN uniquely identifies the vehicle being sold and ensures there is no confusion about which vehicle is being transferred. It is essential for the buyer’s registration process with the Indiana DOL.

What is the importance of the sale price on the Bill of Sale?

The sale price is important for calculating taxes that the buyer must pay when registering the vehicle. It also serves as documentation of the agreed transaction amount between buyer and seller.

Can a Bill of Sale include an "as-is" condition?

Yes, a Bill of Sale can specify that the vehicle is being sold "as-is," meaning the buyer accepts the vehicle in its current condition with no warranties from the seller. This protects the seller from liability for any future repairs or defects.

Does the Bill of Sale need to include the mileage of the vehicle?

Yes, including the vehicle’s odometer reading is required to comply with federal and state laws. This ensures the buyer is aware of the vehicle's current mileage at the time of sale.

How long does a seller have to report the sale of a vehicle in Indiana?

The seller is required to report the sale of the vehicle to the Indiana Department of Licensing within five days. This helps release the seller from liability for any future issues with the vehicle.

Can the Bill of Sale be used if the vehicle is gifted instead of sold?

Yes, a Bill of Sale can document the transfer of a vehicle as a gift. The sale price may be listed as $0, but the other details, such as the VIN and parties involved, must still be included.

What is the penalty for not filing a report of sale in Indiana?

Failing to report the sale of a vehicle can leave the seller legally responsible for any tickets, accidents, or violations involving the vehicle. The seller remains liable until the report is filed.

Is a Bill of Sale required when selling a car to a dealership in Indiana?

When selling to a dealership, a Bill of Sale may not be required, as the dealer typically handles the paperwork. However, it is still a good idea for both parties to have a record of the transaction.

Can an Indiana Bill of Sale be used for vehicles sold through financing?

Yes, a Bill of Sale can be used for vehicles sold with financing, but it should indicate that the sale is subject to the financing terms. This ensures that both parties are clear on the payment structure.

Does the buyer need the Bill of Sale to register the vehicle in Indiana?

Yes, the buyer needs the Bill of Sale to register the vehicle with the Indiana Department of Licensing. It is used to calculate taxes and confirm the details of the sale.

What happens if the buyer or seller loses their copy of the Bill of Sale?

If a copy of the Bill of Sale is lost, a new one can be created, signed, and notarized by both parties. Having a copy is important for both parties' records and legal protection.