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Motor Vehicle Contract Of Sale

Motor Vehicle Contract Of Sale Template for United States

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Key Requirements PROMPT example:

Motor Vehicle Contract Of Sale

"I need a Motor Vehicle Contract of Sale for selling my dealership's certified pre-owned 2024 Tesla Model 3 to a corporate buyer, including extended warranty terms and financing options through our preferred lender, with closing expected in January 2025."

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Document background
The Motor Vehicle Contract of Sale is a crucial document used whenever a motor vehicle changes ownership in the United States. This contract type serves as official documentation of the transaction and protects both parties' interests by clearly stating the terms of sale, vehicle condition, and price. It must comply with both federal regulations (such as the Truth in Lending Act and Odometer Disclosure Requirements) and state-specific DMV requirements. The document is essential for private sales, dealership transactions, and commercial fleet transfers, providing a clear record of the ownership transfer and helping prevent future disputes.
Suggested Sections

1. Parties: Identification of seller and buyer with complete contact information

2. Background: Context of the sale and basic transaction information

3. Definitions: Key terms used throughout the contract

4. Vehicle Description: Detailed description including make, model, year, VIN, mileage

5. Purchase Price: Total price and payment terms

6. Transfer of Title: Terms of ownership transfer

7. Representations and Warranties: Statements about vehicle condition and legal status

8. Signatures: Execution block with date and signatures

Optional Sections

1. Financing Terms: Details of financing arrangement if not cash purchase

2. Trade-in Details: Information about trade-in vehicle if applicable

3. Extended Warranty: Terms of any extended warranty or service contract

4. Condition Report: Detailed description of vehicle condition and any known defects

Suggested Schedules

1. Vehicle Inspection Report: Detailed mechanical inspection results

2. Odometer Disclosure Statement: Federal form certifying vehicle mileage

3. Warranty Documentation: Manufacturer's or extended warranty details

4. Vehicle History Report: CarFax or similar vehicle history documentation

5. State-Specific Forms: Required state DMV forms for transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Clauses
Vehicle Description and Identification
Purchase Price and Payment
Title Transfer
Warranties and Representations
Delivery and Acceptance
Insurance and Risk
Registration and Documentation
Seller's Representations
Buyer's Representations
Odometer Disclosure
As-Is Condition
Financing Terms
Default and Remedies
Trade-in Terms
Fees and Taxes
Inspection Rights
Governing Law
Dispute Resolution
Severability
Entire Agreement
Force Majeure
Indemnification
Notices
Assignment
Amendment and Modification
Termination
Warranty Disclaimer
Compliance with Laws
Counter-parts
Industries

Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and costs in vehicle financing transactions

FTC Used Car Rule: Federal regulation requiring display of Buyers Guide and warranty disclosures for used vehicle sales

Magnuson-Moss Warranty Act: Federal law governing consumer product warranties, including terms and conditions for vehicle warranties

Odometer Disclosure Requirements: Federal law (49 U.S.C. Chapter 327) mandating accurate disclosure of vehicle mileage

State Vehicle & Traffic Laws: State-specific regulations governing vehicle registration and title transfer procedures

State Consumer Protection Laws: State-level laws including lemon laws, warranty requirements, and cooling-off periods

State Contract Laws: Basic contract formation requirements and statute of frauds at the state level

State DMV Regulations: State-specific documentation requirements, forms, and procedures for vehicle transfers

State Sales Tax Laws: State regulations governing tax calculation, collection requirements, and applicable exemptions for vehicle sales

UCC Article 2 - Sales: Uniform Commercial Code provisions governing contract formation, warranties, title transfer, and remedies in vehicle sales

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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