If you want to buy or sell any vehicle, then knowing about the odometer disclosure statement in Texas is of the essence for any purchaser as well as a seller. Here are some key facts to keep in mind:
1. Legal Requirement: In Texas, the sellers are required to give buyers a true statement of the mileage number on the odometer at the time of selling. These words are a block against mileage manipulation and promote the rights of transactions for cars in a good way.
2. Exceptions: Some exceptions are also permitted from the Texas odometer disclosure statement, such as vehicles over ten years old. Vehicles with a gross weight rating of over 16,000 lbs. and not self-propelled vehicles are also the exceptions.
3. Penalties for Non-Compliance: If the seller does not give the required true Texas odometer disclosure statement, there can be negative consequences, such as a fine or a lawsuit. Clearly, buyers and sellers are required to complete this task correctly. They need to maintain a good reputation before the law.
4. Format and Content: The Texas odometer disclosure statement aims to provide VIN information, seller's and buyer's details, current odometer reading, date of sale, and the signatures of both parties. It is very vital that a person fills out the form in full and in a proper way so that he will keep up with the Texas state law.
The End Comment:
The odometer disclosure statement in Texas, a document nurtured in the vehicle transaction, is like a shield to the buyers preventing odometer fraud. The knowledge of what constitutes the Odometer Disclosure Statement to protect your interest. For possible legal consequences arising from this document, Allen Stewart will assist you in your car sale or purchase.
To know more about Texas Lemon Law For Used Vehicles please visit our website: allenstewart.com
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