What is a Notarized Odometer Statement?
A Notarized Odometer Statement is a legal document that certifies the mileage of a vehicle at the time of sale. This form is typically required when transferring ownership of a vehicle to ensure transparency and prevent odometer fraud. The statement must be completed and signed in the presence of a notary public, who verifies the information and the identity of the seller.
Why do I need a Notarized Odometer Statement?
This statement is crucial for protecting both the buyer and the seller. It provides a record of the vehicle’s mileage at the time of transfer, which can be important for determining the vehicle’s value and for future resale. Many states require this document as part of the vehicle registration process to ensure compliance with odometer disclosure laws.
Who can complete the Notarized Odometer Statement?
The statement must be completed by the vehicle owner or seller. Once filled out, a notary public will need to witness the signing of the document. The notary verifies the identity of the signer and ensures that the information provided is accurate before affixing their seal to the document.
What information is required on the form?
The form requires specific details, including the vehicle's mileage, year, make, model, and Vehicle Identification Number (VIN). Additionally, the owner's name and the date of the transaction must be included. This information helps establish a clear record of the vehicle's history.
How do I find a notary public?
Notaries can often be found at banks, law offices, or public libraries. Many notaries also offer mobile services, meaning they can come to you. It's a good idea to call ahead and confirm their availability, as well as any fees they may charge for notarization services.
Is there a fee for notarizing the Odometer Statement?
Yes, there is usually a fee for notarization, which can vary depending on the notary public and your location. Some states have set maximum fees that notaries can charge, while others allow notaries to set their own rates. It’s advisable to inquire about the fee before your appointment.
What should I do after completing the Notarized Odometer Statement?
Once the Notarized Odometer Statement is completed and signed in front of a notary, both the buyer and the seller should keep a copy for their records. The seller may need to submit the original statement to the Department of Motor Vehicles (DMV) or the relevant authority when transferring the vehicle title. Always check your local regulations to ensure compliance.