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When buying or selling a vehicle in Texas, it’s essential to understand the importance of the Texas Odometer Statement form, also known as VTR-40. This document plays a critical role in the transfer of ownership, ensuring that both the seller and buyer are clear about the vehicle's mileage. Federal and state laws mandate that the odometer reading be disclosed during this process, making it a legal requirement to provide accurate information. Failing to complete the form correctly or submitting false information can lead to serious consequences, including fines and even imprisonment. The form requires detailed information about the vehicle, including its year, make, model, and Vehicle Identification Number (VIN). Additionally, the seller must certify that the odometer reading reflects the actual mileage, unless specific conditions apply, such as the mileage exceeding mechanical limits or discrepancies in the odometer reading. Both parties must acknowledge this disclosure, ensuring transparency and accountability in the transaction. Understanding the nuances of the Texas Odometer Statement form is crucial for anyone involved in the buying or selling of a vehicle, as it safeguards against potential legal issues and promotes fair dealings.
Common mistakes
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Incorrect Odometer Reading: Many individuals mistakenly enter an inaccurate odometer reading. It's crucial to provide the exact mileage without any tenths. Double-checking this number can prevent complications.
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Failure to Check Necessary Statements: Some people neglect to check one of the statements regarding the odometer's condition. If the mileage exceeds mechanical limits or is not actual mileage, it must be indicated. Omitting this can lead to legal issues.
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Missing Signatures: A common error is forgetting to sign the form. Both the seller and buyer must provide their signatures to validate the document. Without these, the form may be considered incomplete.
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Incorrect Personal Information: Providing incorrect names or addresses is another frequent mistake. Ensure that the printed names match the signatures exactly, and all address details are accurate to avoid future complications.
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Using the Wrong Form: Some individuals mistakenly use an outdated or incorrect form. The Texas Odometer Statement VTR-40 must be the most current version. Always verify that the form is up-to-date to comply with state regulations.
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Key takeaways
Here are some important points to keep in mind when filling out and using the Texas Odometer Statement form:
- Purpose: This form is required for disclosing the mileage of a vehicle during ownership transfer.
- Accuracy is Key: Always provide the correct odometer reading to avoid legal issues.
- Legal Requirements: Federal and state laws mandate this disclosure. Failing to comply can lead to serious penalties.
- Not for Title Transfers: This form cannot be used with title transfer documents that already meet odometer disclosure laws.
- Odometer Conditions: If the odometer reading is not accurate, check the appropriate box on the form to indicate this.
- Signature Required: Both the seller and buyer must sign the form to validate the odometer disclosure.
- Firm Names: If the vehicle is purchased by a business, include the firm’s name where indicated.
- Consequences of Falsification: Providing false information on the form is considered a third-degree felony under Texas law.
Texas Odometer Statement Example
(Seller/Agent Name)
ODOMETER DISCLOSURE
STATEMENT
DHT # 142235
Federal and State Law require that you state the mileage in connection with the transfer of ownership. Failure to complete or providing a false statement may result in fines and/or imprisonment. This form may not be used in conjunction with title transfer documents, which comply with federal and state odometer disclosure requirements such as Texas Certificate of Titles issued on or after April 29, 1990.
VEHICLE DESCRIPTION
Year
Make
Body Style
Model
Vehicle Identification Number
I, ______________________________________________, certify to the best of my knowledge that the odometer reading is
the actual mileage of the vehicle described above unless one of the following statements is checked:
Odometer
Reading |
(No Tenths) |
1.The mileage stated is in excess of its mechanical limits.
2.The odometer reading is not the actual mileage.
WARNING – ODOMETER DISCREPANCY.
Date ofSignature of Seller/AgentPrinted Name (Same as Signature) Statement
If titled in a firm’s name, print the firm’s name on the line above.
Street Address |
City |
State |
Zip Code |
ACKNOWLEDGMENT OF ODOMETER DISCLOSURE BY BUYER/AGENT
I am aware of the above odometer certification made by the seller/agent.
Date of |
Signature of Buyer/Agent |
Printed Name (Same as Signature) |
Statement |
|
|
If purchased by a firm, print the firm’s name on the line above.
Street Address |
City |
State |
Zip Code |
WARNING: TRANSPORTATION CODE, §501.155, PROVIDES THAT FALSIFYING INFORMATION ON ANY REQUIRED STATEMENT OR APPLICATION IS A
Understanding Texas Odometer Statement
What is the Texas Odometer Statement form?
The Texas Odometer Statement form, also known as VTR-40, is a document required during the transfer of vehicle ownership in Texas. It ensures that the seller provides accurate mileage information about the vehicle. This form is essential for both state and federal compliance, helping to prevent odometer fraud.
Who needs to fill out the Odometer Statement?
Both the seller and the buyer of a vehicle must complete the Odometer Statement. The seller certifies the mileage to the best of their knowledge, while the buyer acknowledges this information. This process is crucial for protecting both parties in the transaction.
What happens if the Odometer Statement is not completed accurately?
Failure to complete the Odometer Statement accurately can lead to serious consequences. If the information is found to be false or misleading, it may result in fines or even imprisonment. It’s important to provide truthful information to avoid these legal issues.
Can the Odometer Statement be used with title transfer documents?
No, the Texas Odometer Statement cannot be used alongside title transfer documents that comply with federal and state requirements. If you are transferring a title for a vehicle that was issued a Texas Certificate of Title on or after April 29, 1990, you should use the appropriate title transfer forms instead.
What should I do if I notice an odometer discrepancy?
If you notice an odometer discrepancy, it is important to address it immediately. You should check the options on the Odometer Statement form that apply, such as indicating that the mileage exceeds mechanical limits or that the odometer reading is not accurate. It’s crucial to document any discrepancies to avoid potential legal issues later on.
How to Use Texas Odometer Statement
After gathering the necessary information, you can proceed to fill out the Texas Odometer Statement form. This form is crucial for accurately documenting the vehicle's mileage during the transfer of ownership. Follow these steps to ensure everything is completed correctly.
- Obtain the Texas Odometer Statement form (VTR-40).
- In the section labeled Seller/Agent Name, write the name of the seller or agent.
- Fill in the Vehicle Description section with the following details:
- Year of the vehicle
- Make of the vehicle
- Body Style (e.g., sedan, truck)
- Model of the vehicle
- Vehicle Identification Number (VIN)
- In the Odometer Reading section, enter the mileage (without tenths).
- If applicable, check one of the statements regarding the odometer:
- The mileage stated is in excess of its mechanical limits.
- The odometer reading is not the actual mileage.
- Sign and date the form in the Signature of Seller/Agent section.
- Print the name of the seller or agent in the Printed Name section.
- If the vehicle is titled in a firm’s name, write the firm’s name on the designated line.
- Fill in the Street Address, City, State, and Zip Code of the seller or agent.
- In the Acknowledgment of Odometer Disclosure by Buyer/Agent section, the buyer or agent must sign and date the form.
- Print the name of the buyer or agent in the Printed Name section.
- If purchased by a firm, write the firm’s name on the designated line.
- Finally, fill in the Street Address, City, State, and Zip Code of the buyer or agent.