Colorado Bill of Sale: What You Need to Know

Whether buyer or seller, one will want to use the Colorado bill of sale as a means of proving there was a sales transaction. Colorado requires this bill of sale when relinquishing ownership of the vehicle they sold. Additionally, it is needed during title transfer of vehicle that has been purchased. This bill needs to be first signed by the seller. Information reflected on the form includes:

  • Buyer’s name
  • Seller’s name
  • Model of the vehicle
  • Vehicle year, and make
  • Vehicle identification number
  • Sale price of the vehicle
  • Date of sale

The form is easy to complete and should include the odometer reading as well as the date the car was sold. This will make it acceptable as a proof of purchase and will help in completion of the registration of the vehicle. The form can be printed from the Colorado DMV website. Once it has been filled out, the seller and the buyer need to obtain the perjury statement or have the bill notarized. The buyer should then submit it to the Colorado DMV in person.

The seller is released by this bill from any obligations related to the vehicle including offenses, tickets, taxes or any situation that may be encountered by the present owner of the vehicle. In addition it releases them from responsibility of the new owner not registering it properly with their name.

The buyer of the vehicle is offered protection by the law to move the vehicle from where it is stored to where they want it if the transaction took place during the holidays or over the weekend. This, however, must happen within 36 hours after the purchase. The vehicle bill of sale will act as proof to the time the car was purchased that has been signed by the seller and buyer as proof of insurance in case of any problem.

If one has lost or needs a copy of the original bill of sale, they have to complete the Title Copy records request, fill the second to the fourth sections of the form, include their telephone number, and then return the form. The form should be returned with copies of two forms of identification. A copy of the original registration should be included to show the date that it was issued. Within six weeks, one will have the copy of the bill of sale, as requested.

This document is important as it can be added to one’s personal records. In cases of problems in the future, it will act as proof of transaction. It is a binding contract with a format that is simple and user-friendly. It is no doubt that buying a car from a private seller will save a lot of money however, it is good to cover one’s self and one needs to carry this form when they go to seal the deal.