This bill of sale form is used for the sole purpose of buying or selling of vehicles in the State of Colorado and is only limited to the frontiers of the given state and does not hold any legal stature elsewhere. To do the same the seller needs to fill the in the form correctly and the buyer needs to submit it to the Department of Transportation for the transfer of ownership to be legal.
The guidelines mentioned below shall be able to help you with filling the form.
- The form needs to be initiated with the dollar amount mutually agreed by both the parties, acting as a receipt and acknowledgement by the seller followed by the full and legal name along with the complete address of the buyer. Here, the information relating to the vehicle needs to be mentioned including the year of the vehicle, make of the same, model (manufacturer) and VIN (vehicle identification number).
- In the third and last section, under the declaration which states “I (We) do vouch to be the true and lawful owner of said vehicle the same is free and clear of all liens and encumbrances, and that I (We) have full power, right and lawful authority to dispose of this vehicle“, the seller and the buyer are required to sign along with the date and time.
- At the bottom of the document a clause in effect with the state law says “Pursuant to Colorado Revised Statutes § 42-3-115(2)-The transferee may operate a motor vehicle on the highway before registering it if: (III) (A) the transferee has purchased the motor vehicle within the last thirty-six hours from a person who is not a motor vehicle dealer…(B) the vehicle was purchased either on a Saturday, on a Sunday, on a legal holiday or between 5 p.m. and 8 a.m. (C) the vehicle is being driven from the place where the transferor stored the vehicle to the place where the transferee intends to store the vehicle; (D) The owner possesses, in the vehicle, a bill of sale that shows the time and date of sale and that is signed by both the buyer and seller AND (E) the owner possesses, in the vehicle, proof of insurance as required…” which can create hindrance, if failed to abide the same.
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