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When it comes to transferring ownership of a vehicle in Texas, one essential document that must be completed is the Texas Odometer Statement, also known as Form VTR-40. This form serves a critical purpose in ensuring transparency regarding the mileage of the vehicle being sold. Both federal and state laws mandate that the odometer reading be accurately reported to prevent fraud and protect consumers. The form requires specific details about the vehicle, including its year, make, model, body style, and Vehicle Identification Number (VIN). Sellers or their agents must certify that the odometer reading reflects the actual mileage, unless certain conditions apply, such as the mileage exceeding mechanical limits or discrepancies in the reading. Buyers are also required to acknowledge the odometer disclosure, reinforcing the importance of this information in the transaction. It's crucial to understand that failing to complete the form accurately or providing false information can lead to serious consequences, including fines or imprisonment. This highlights the significance of the Texas Odometer Statement in safeguarding both buyers and sellers during the vehicle transfer process.
Dos and Don'ts
When filling out the Texas Odometer Statement form, it is essential to be diligent and accurate. Here are seven important do's and don'ts to keep in mind:
- Do provide accurate information regarding the vehicle's mileage.
- Do ensure that the odometer reading is clear and legible.
- Do check the appropriate box if the odometer reading is not the actual mileage.
- Do sign and date the form to confirm your acknowledgment of the information provided.
- Don't leave any sections of the form blank; complete all required fields.
- Don't provide false information, as this can lead to serious legal consequences.
- Don't use this form in conjunction with title transfer documents that do not meet federal and state requirements.
Following these guidelines will help ensure that the odometer disclosure process goes smoothly and complies with the law.
Document Attributes
| Fact Name | Details |
|---|---|
| Form Title | The official name of the form is the Odometer Disclosure Statement VTR-40. |
| Revision Date | This form was last revised in November 2009. |
| Federal Requirement | Federal law mandates that the odometer reading must be disclosed during the transfer of vehicle ownership. |
| State Requirement | Texas law also requires the disclosure of odometer readings when transferring vehicle ownership. |
| Consequences of False Statements | Providing false information on this form can lead to fines and/or imprisonment. |
| Title Transfer Restriction | This form cannot be used with title transfer documents that meet federal and state odometer disclosure requirements. |
| Odometer Reading | The form requires the seller to state the odometer reading without tenths. |
| Mechanical Limits | One option on the form indicates if the mileage exceeds the vehicle's mechanical limits. |
| Buyer Acknowledgment | The buyer or agent must acknowledge the odometer certification made by the seller. |
| Legal Consequences | According to Texas Transportation Code, §501.155, falsifying information is a third-degree felony. |
Key takeaways
Filling out the Texas Odometer Statement form is an essential step in the vehicle transfer process. Here are some key takeaways to ensure you complete it correctly:
- Understand the Purpose: This form is used to disclose the mileage of a vehicle when ownership is transferred. It helps protect buyers from odometer fraud.
- Know the Legal Requirements: Both federal and state laws mandate that the mileage must be stated accurately. Misrepresentation can lead to serious consequences.
- Complete All Sections: Ensure that you fill out every section of the form, including vehicle description, seller information, and odometer reading.
- Provide Accurate Mileage: The odometer reading must reflect the actual mileage. If the odometer is broken or has rolled over, you must indicate that on the form.
- Check the Right Boxes: If applicable, mark the appropriate statements regarding the odometer reading, such as if it exceeds mechanical limits or is not accurate.
- Signature Requirement: Both the seller and buyer (or their agents) must sign the form to acknowledge the odometer disclosure.
- Firm Names: If the vehicle is being sold by or to a firm, make sure to print the firm’s name where required.
- Keep Copies: Retain a copy of the completed form for your records. This can be important for future reference or disputes.
- Avoid Title Transfer Conflicts: Remember, this form cannot be used alongside title transfer documents that already meet federal and state requirements.
- Be Aware of Penalties: Falsifying information on the form is considered a serious offense and can result in fines or imprisonment.
By keeping these takeaways in mind, you can navigate the Texas Odometer Statement form with confidence, ensuring a smooth vehicle transfer process.
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Example - Texas Odometer Statement Form
(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
Detailed Instructions for Writing Texas Odometer Statement
After gathering the necessary information, you can begin filling out the Texas Odometer Statement form. This form is essential for documenting the mileage of a vehicle during a transfer of ownership. Make sure to provide accurate information to avoid any potential legal issues.
- Start by entering the Seller/Agent Name at the top of the form.
- Fill in the Vehicle Description section, including:
- Year of the vehicle
- Make of the vehicle
- Body Style (e.g., sedan, SUV)
- Model of the vehicle
- Vehicle Identification Number (VIN)
- In the Odometer Reading section, write the current mileage without tenths.
- Check one of the following statements if applicable:
- The mileage stated is in excess of its mechanical limits.
- The odometer reading is not the actual mileage.
- Sign and date the form 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, print the firm's name on the designated line.
- Provide your Street Address, City, State, and Zip Code.
- In the Acknowledgment of Odometer Disclosure by Buyer/Agent section, the buyer or agent should sign and date the form.
- Print the buyer's or agent's name in the Printed Name section, ensuring it matches the signature.
- If the vehicle is purchased by a firm, print the firm's name on the designated line.
- Lastly, provide the buyer's or agent's Street Address, City, State, and Zip Code.
Documents used along the form
The Texas Odometer Statement form is an important document used during the transfer of vehicle ownership. However, several other forms and documents may accompany it to ensure a smooth transaction. Here are a few commonly used documents:
- Texas Certificate of Title: This is the official document that proves ownership of a vehicle. It includes details like the vehicle's make, model, and VIN, and is required for transferring ownership.
- Bill of Sale: This document serves as proof of the sale and includes information about the buyer, seller, vehicle details, and the sale price. It can help clarify terms of the transaction.
- Application for Texas Title: When transferring ownership, the new owner must complete this application to obtain a new title in their name. It requires details about the vehicle and the buyer.
- Durable Power of Attorney: This form allows an individual to designate someone else to manage their financial matters, remaining valid even if they become incapacitated. It's an essential document for estate planning and ensuring that one's affairs are handled responsibly. For more details, you can refer to newyorkform.com/free-durable-power-of-attorney-template.
- Vehicle Registration Application: This form is necessary for registering the vehicle in the new owner's name. It typically includes personal information and vehicle details.
Using these documents alongside the Texas Odometer Statement helps ensure compliance with state and federal laws. Each form plays a critical role in the ownership transfer process, protecting both buyers and sellers.