Utah Vehicle Sales Agreement
Ensure that information about the vehicle provided to the dealership is accurately disclosed. The Utah Division of Motor Vehicles is a department of the Utah State Tax Commission. The main task of the Utah DMV is to issue the title and registration of Utah vehicles, including cars, trucks, trailers, motorcycles, motorhomes, off-highway vehicles, boats and snowmobiles. – The buyer`s name and address. – the seller`s name, address and signature. – Full description of the vehicle, including vehicle identification number (VIN). – Description of the exchange, if it exists. – Purchase price of the vehicle. – The trade allowance, if that is the case.
– Net purchase price. Utah law requires a seller to provide a security within 48 hours of the transaction, a reasonable approach being to receive a security at the time of sale or wait for the seller to present the security. Without a negotiable title, you cannot name and register the vehicle on your behalf. A negotiable security is part of the vehicle purchased. Check the series, model and compare the vehicle identification number to 17 digits (VIN) with the VIN on the car. And was duly signed by the seller. If the title is more than a person`s name (for example. B a husband and wife or co-signer), both may be obliged to sign. If the title says « John Doe and Jane Doe, » they must both sign on the title. If the title is « John Doe or Jane Doe, » there is only one to sign. No notary is required to cancel a title. In the state of Utah, it is important to fill out a sales form when selling a vehicle.
For the seller, a sales invoice provides proof that ownership of the vehicle has been legally transferred. For the buyer, the sales invoice documents the purchase price of the vehicle at VAT. Disclosure of royalties, registration fees, age-related royalties, emissions and safety inspections is not subject to revenue tax, but must be disclosed in the contract. If the buyer has not received a signed sales invoice from the seller (or if the sales invoice does not meet the requirements described above), the DMV calculates the amount of turnover or user tax based on fair market value. You can use the form provided by the state or create your own vehicle sales bill. If you design your own, simply type them in ink or write by hand. Your sales invoice, which does not require certification, must have the following information to be acceptable: in addition to establishing a correct sales invoice, there are many other documents that contribute to the registration and insanity of vehicles and ships in Utah. Utah law has a 3-day return fee, but it does not apply to motor vehicles. Your return terms must be included in the sales contract and/or reserved for the dealer, even if you do not allow the return of a vehicle.
Independent Dealer Solutions has developed a sales contract that meets Utah`s new and used requirements for dealers. The form is protected by government and federal copyright laws and should not be used without authorization. All IDS forms are available to merchants in each of their offices. If you need to tailor the sales contract to your needs, contact IDS. Since a sales invoice is required to sell and purchase a vehicle privately in Utah, a copy must be forwarded to DMV. Buyers and sellers should also keep a copy if they are to refer to it later. If a Utah security is lost, the buyer and seller can fill out a TC-123 form, requesting a double title. This document, duly completed, can then be used to register the vehicle in the buyer`s name.