Car Bill of Sale for modified vehicle - liability concerns

[waid302]

Jurisdiction

Indiana

Hi, new to this forum.

I have a car with suspension that I modified and replaced the 4 cylinder engine with a V8. I understand that as an individual, if I sell a vehicle it is sold "as is". However, I have made up the following Bill of Sale to protect me from any future liability.

Thought?

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Motor Vehicle Bill of Sale

BE IT KNOWN, that for payment in the sum of _______________ the full receipt of which is acknowledged, the undersigned ______________________________ (Seller) hereby sells and transfers to _____________________________ (Buyer), the following described motor vehicle.
Make: Model or series:
Year: Color:
VIN #: Style:
Odometer reading: Title #:

Seller acknowledges receipt of ______________ in payment for the Vehicle (car), full payment from the Buyer and title transferred to the Buyer.

Seller certifies to the best of the Seller's knowledge that the odometer reading listed in the Vehicle's description above reflects the actual mileage of the Vehicle. The Vehicle's odometer was not altered, set back, or disconnected while in the Seller's possession, and the Seller has no knowledge of anyone doing so.

Seller warrants to Buyer that Seller has good and marketable title to said property, full authority to sell and transfer said property, and that said property is sold free of all liens, encumbrances, liabilities, and adverse claims of every nature and description whatsoever.

Buyer acknowledges that the Vehicle is being sold "as is," without warranty, whether express or implied, about the condition of the Vehicle. The Buyer must satisfy itself as to what is offered for sale, and by purchasing will be held to have satisfied itself that the Vehicle is satisfactory in all respects. Any defects and all repairs are the sole responsibility of the Buyer. The Seller neither assumes, nor authorizes any other person or entity to assume on its behalf, any liability in connection with the sale of the Vehicle. The Seller's disclaimers of warranty do not affect the terms or applicability of any warranty from the Vehicle's manufacturer that may be applicable to the Vehicle.

Date signed:
Seller:
Buyer:
In the presence of (Witness):
Print name of witness:​

 

[adjusterjack]

A bit of overkill. I've bought and sold a lot of cars in my time and simple does the trick. Not legal advice, just one car guy to another, here's mine.

Bill of Sale
Date__________
Seller____________________________________________ _______
Buyer_____________________________________________ ______
Vehicle Year, Make, Model___________________________________
VIN_________________________
Sale Price____________________
Vehicle sold AS IS. No warranties or guarantees of any kind, express or implied.
Seller's Signature___________________________
Buyer's Signature___________________________

Two copies. Each sign both. Each keeps one. I also fill out the title completely with the buyer's name and address. In my state he signs the back acknowledging the odometer statement. I scan the front and the back of the title. In my state we keep the plates so I remove them from the car and drive the buyer to the nearest MVD office where he can transfer title or get a temp tag. When he leaves with his purchase I immediately file my sold notice online with the MVD, keeping the confirmation on my computer as well.

I'm guessing you explained the modifications in your ad so I suggest keeping a copy of the ad in your permanent file along with the rest. Scan it all to your computer and keep it forever. Doesn't take up much cyberspace.

You've got me curious. What did you cram a V-8 into that used to have a 4 banger?

 

[waid302]

It was S10 truck with V8.

Thanks

 

[adjusterjack]

Must be a screamer now.

 

[mightymoose]

Here in CA the odometer statement on the title has a box to check if the mileage shown is not actual mileage. It does not matter that you have not altered the odometer. If you have changed the engine you likely need to check that box if you have one.