Content Overview
Form Breakdown
| Fact Name | Description |
|---|---|
| Purpose | The Illinois Motor Vehicle Bill of Sale serves as a legal document to record the sale of a vehicle between a buyer and a seller. |
| Governing Law | This form is governed by the Illinois Vehicle Code, specifically 625 ILCS 5/3-101 et seq. |
| Required Information | Essential details such as the vehicle identification number (VIN), make, model, year, and the sale price must be included in the bill of sale. |
| Signatures | Both the buyer and seller must sign the document to validate the transaction and ensure mutual agreement on the sale. |
| Record Keeping | It is advisable for both parties to keep a copy of the bill of sale for their records, as it may be required for registration or title transfer. |
Sample - Illinois Motor Vehicle Bill of Sale Form
Illinois Motor Vehicle Bill of Sale
This document is a legally binding agreement between the Seller and the Buyer for the sale of a motor vehicle in the state of Illinois. This Bill of Sale is made in accordance with Illinois state laws governing the transfer of motor vehicle ownership.
Seller Information:
- Name: _____________________________________
- Address: ___________________________________
- City: ______________________________________
- State: Illinois
- ZIP Code: ___________
- Phone Number: ____________________________
- Email: ____________________________________
Buyer Information:
- Name: _____________________________________
- Address: ___________________________________
- City: ______________________________________
- State: Illinois
- ZIP Code: ___________
- Phone Number: ____________________________
- Email: ____________________________________
Vehicle Information:
- Make: ______________________________________
- Model: _____________________________________
- Year: ______________________________________
- VIN (Vehicle Identification Number): _____________
- Odometer Reading: ___________________________ miles
- Color: ______________________________________
Sale Information:
- Sale Price: $_____________
- Payment Method: ____________________________
- Date of Sale: _______________________________
By signing below, both parties agree to the terms of this sale.
Seller’s Signature: ___________________________
Date: ______________________________________
Buyer’s Signature: ___________________________
Date: ______________________________________
This Bill of Sale constitutes the entire agreement between the Seller and Buyer. Both parties acknowledge that there are no additional agreements, promises, or understandings beyond what is stated herein.
Common mistakes
When filling out the Illinois Motor Vehicle Bill of Sale form, one common mistake is failing to provide accurate vehicle information. This includes details like the vehicle identification number (VIN), make, model, and year. If any of this information is incorrect, it can lead to complications during the title transfer process. Always double-check these details against the vehicle's title and registration documents.
Another frequent error involves not including the correct purchase price. This figure should reflect the actual amount paid for the vehicle. If the price is too low or not specified, it may raise red flags during the registration process. Make sure to write the purchase price clearly and accurately to avoid any issues with the Illinois Secretary of State.
Many individuals also overlook the importance of signatures. Both the buyer and seller must sign the form for it to be valid. If either party forgets to sign, the document may be considered incomplete. Ensure that both parties review the form and sign it in the appropriate sections before finalizing the transaction.
Lastly, some people fail to retain a copy of the completed Bill of Sale. This document serves as proof of the transaction and is important for both the buyer and seller. Keeping a copy can help resolve any future disputes regarding ownership or payment. Always make sure to have a copy for your records after the form is filled out and signed.
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