What is the purpose of the DR 2173 A form?
The DR 2173 A form serves as a Bill of Sale for a motor vehicle. It documents the transfer of ownership from the seller to the buyer. By completing this form, both parties acknowledge the sale and the terms associated with it, including the vehicle's identification and the agreed-upon sale price.
What information is required on the DR 2173 A form?
Key information required on the form includes the vehicle's identification number (VIN), year, make, body style, model, and the date of sale. Additionally, the seller must provide their name, address, and signature, along with the buyer's information and signatures. The odometer reading at the time of sale must also be documented, ensuring compliance with federal regulations.
Why is the odometer disclosure important?
The odometer disclosure is crucial because it ensures that the buyer is aware of the vehicle's mileage at the time of sale. Federal law mandates this disclosure to prevent fraud and protect consumers. Providing false information about the odometer reading can lead to serious legal consequences, including fines or imprisonment.
What does "as is" mean in the context of the form?
The term "as is" indicates that the vehicle is being sold in its current condition, without any warranties or guarantees from the seller regarding its performance or condition. Buyers should understand that they accept the vehicle with all its existing faults and issues.
What should I do if I find an error on the form after it has been signed?
If an error is discovered after the form has been signed, it is important to address it promptly. Both the seller and buyer should agree on the correction, and a new form may need to be completed to ensure that all information is accurate. Keeping clear communication between both parties is essential in these situations.
Is the DR 2173 A form legally binding?
Yes, once both the seller and buyer sign the DR 2173 A form, it becomes a legally binding document. This means that both parties are obligated to adhere to the terms outlined in the form, including the transfer of ownership and the agreed-upon sale price.
What happens if the seller does not have the title to the vehicle?
If the seller does not possess the title, they cannot legally transfer ownership of the vehicle. It is advisable for the seller to obtain a duplicate title from their local Department of Motor Vehicles (DMV) before proceeding with the sale. Without a title, the transaction may be considered invalid.
Can the DR 2173 A form be used for any type of vehicle?
The DR 2173 A form is specifically designed for motor vehicles. This includes cars, trucks, motorcycles, and other motorized vehicles. However, it may not be suitable for non-motorized vehicles or other types of property. Always check local regulations to ensure compliance.