You need to also provide a copy of the carâs registration to the buyer.įinally, you will need to provide an Odometer Disclosure Statement ( Form 729) if the car is less than 10 years old. Both seller and buyer must sign the title. If the title is lost, you can get a duplicate title from the Oklahoma Tax Commission. Vehicle sellers need to give the buyer the title and have someone witness the transaction. You need several other documents to complete the transaction. To sell a vehicle in Oklahoma, you need more than just a bill of sale. If the car is repaired to the point where it is once again safe to drive, then it can gain a ârebuiltâ title.Īnyone selling a vehicle with a salvage or rebuilt title must inform potential buyers of this title in writing. However, its title is converted to a âsalvageâ or âjunkâ title. When an Oklahoma-registered vehicle is totaled, it still has a title. ![]() As both the buyer and the seller also need a copy, three total copies are needed.įor other sales, only two copies are required: one for the buyer and one for the seller. Number of Copiesįor motor vehicles or boats, itâs mandatory to present a copy of the bill of sale to the Oklahoma Tax Commissionâs Motor Vehicle Division in order to transfer the title. If you would like to have your bill of sale translated, you can work with a state-certified translator. Thereâs no required language for a bill of sale in Oklahoma, but the state only provides documents in English. Additional Considerations Language Requirements This can help prevent legal disputes down the road. It gives the buyer a document that proves ownership of the item while the seller has a record that they no longer own the item, as well as the agreed-upon price. Beyond satisfying these legalities, however, a bill of sale can also provide legal protections. In some sales, a bill of sale is required by law. You can use the form the state of Oklahoma provides ( Form 722-1) or you can draft your own. ![]() While drafting a bill of sale is good standard practice for the purchase of many big-ticket items, they are required for the purchase of boats or motor vehicles in the state of Oklahoma. In this case, a trade-in bill of sale indicates that the two items were equal in value or outlines the value that has been transferred. Trade-in: Some bills of sale involve simply trading objects.This can be important for both the giver and the recipient when calculating the yearâs taxes. Gift: If an item is being transferred to someone as a gift, a gift bill of sale demonstrates that no (or very little) money has changed hands.Sales tax: If sales tax is in effect for the item, this section specifies how much sales tax should be paid and whether it is included in the price.The primary buyerâs name and address will be included in the bill of sale, along with information for any additional buyers. Buyer: The buyer is the person paying for the item. ![]() The primary sellerâs information, such as name and address, are included in the bill of sale, along with information for any additional sellers. Seller: The seller is the person selling the item.
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