Do it as fast as possible to ensure you are released from the responsibility for the described vehicle and its use; Prepare two copies of the Illinois Vehicle Bill of Sale. The state will not accept any other bill of sale … ... are made in the condition report (see Wis. Stat. Illinois Compiled Statutes offers the guidelines to satisfy the requirements of the transfer of the ownership. Form RUT-50 must be filed by a person or business titling a motor vehicle in Illinois when the person or business: purchased or acquired a motor vehicle by gift or transfer from a private party either within or outside Illinois; or moved into Illinois with a motor vehicle he or she owns that was originally purchased or acquired by gift or transfer from a private party. Provides both the seller and the buyer (borrower) with an itemized list of incoming and outgoing funds. Both forms are available from the Secretary of State. Important Considerations For You As A Seller Of A Motor Vehicle, How To Write: VSD 703.1 or the Illinois Vehicle Sellers Report of Sale, Free Illinois Vehicle Sellers Report of Sale – PDF Download. A bill of sale is a document recording the sale of property between one person and another. TemplateRoller.com will not be liable for loss or damage of any kind incurred as a result of using the information provided on the site. They also submit the Department of Revenue’s form RUT-50. 2308 Lumpkin Rd, Augusta, GA 30906, United States (706) 793-4249; Search Illinois DMV (Cyberdrive Illinois) has a Seller's Report of Sale form VSD 703; So you can see all the states should have a mechanism for you to inform them your car has been sold, which will release you of any liability during the period of time until the buyer transfers the title into their name. ​How to Get a Mortgage - Home Loans, Land Loans, and Refinancing, Form VSD 190, Application for Vehicle Transaction(s), Form REG 262, Vehicle/Vessel Transfer and Reassignment, USCIS Form I-551, Permanent Resident Card, U.S. Department of the Treasury - Internal Revenue Service, Form NR-AF2 "Affidavit of Seller's Gain" - Alabama, Form REV87 1006E "Commercial Vessel Seller's Report of Sale" - Washington, Form GIT-REP-3 "Seller's Residency Certification/Exemption" - New Jersey, Form NR-AF1 "Affidavit of Seller's Residence" - Alabama, Form DPR-ENF-063/064 "Broker's Report of Pesticide Sales in California" - California, Form DPR-ENF-180/181 "Registrant's Report of Pesticide Sales in California" - California, Form DPR-ENF-065/066 "Dealer's Report of Pesticide Sales in California" - California, Form CDTFA-531-G Schedule G "Fuel Seller's Supplement to Sales and Use Tax Return" - California, Form CFS685-1 "Adjudicated Sex Offender / Adult Registry Staffing Checklist" - Illinois, Form RMFT-22 "Common Carrier's Report of Motor Fuel Delivered" - Illinois, Form IL497-0473 "Application for Veteran's Compensation by Living Veteran" - Illinois, Form LLC-1.50 "Affidavit of Compliance for Service on Secretary of State" - Illinois, Form SFT-4 "User-Seller's Special Fuels Tax Return" - Massachusetts, Form GIT/REP-1 "Nonresident Seller's Tax Declaration" - New Jersey, Form AG-1 "Stamping Agent's Monthly Report of Virginia Stamped Cigarettes and Roll-Your-Own Tobacco by Non-participating Manufacturer's Brand Family" - Virginia, Form 1024 "Seller's Report of Sale" - South Dakota, Form GIT/REP-3 "Seller's Residency Certification/Exemption" - New Jersey, Form GIT-REP-1 "Nonresident Seller's Tax Declaration" - New Jersey, Form CFS2030-1 "National Youth in Transition Database Baseline Survey" - Illinois, Form BRA-BB4406.1 "Additional Bystander's Report Information" - Illinois, Identifying Number Value Worksheets With Answers Keys, Worksheets, Practice Sheets & Homework Sheets. When you sell and/or release interest in a vehicle that is titled and/or registered in the State of Illinois, this form must be immediately. This form must comprise information about you, vehicle, and the buyer. 501 S. Second St., Rm. Legal Disclamer: The information provided on TemplateRoller.com is for general and educational purposes only and is not a substitute for professional advice. Address to send the duly prepared and signed form VSD 703.1 is, Secretary of State Then write buyer’s name and the physical address. Write seller’s name and physical address. In this case, the buyer must file Form RUT-25, Use Tax Transaction Return, and pay any use tax due. In Illinois, there is no official bill of sale, so you can make your own. You must prepare a vehicle bill of sale along with preparing form VSD 703.1. Download Fillable Form Vsd703.1 In Pdf - The Latest Version Applicable For 2021. The buyer must pay $95 to the Secretary of State, and a tax to the Department of Revenue. The Illinois bill of sale forms conduct a written transfer for a vehicle, boat, or firearm from one individual/entity to another. Of course, you will need to determine how much your car is worth. Complete the Notice of Sale form attached to the bottom of the title and mail that in to the IL Secretary of State (SOS). § 709.033.) The seller must enter print name and date of execution and then sign the form. However, make sure to complete this form in its entirety and sign to execute it. Illinois Listing: $995 Illinois Bunn Special 60 Hour Pocket Watch 23 Jewels 10K Gold..., Reference number BR-08-27; Condition Very good; Year 1919; Location: United States of America, Illinois Bill of Sale Requirements. Your signature. The buyer's name. All rights reserved. Odometer Disclosure Statement (VSD 333.4) – Required when transferring the title of a motor vehicle to verify the odometer mileage and that it has not been tampered with (Federal and State law). Send a completed Seller's Report of Sale (Form VSD 703) to the IL SOS Vehicle Services Department. The form should include all aspects of the transaction including the full names of all parties, description of the vehicle being sold, and the purchase price amount. Get And Sign Title Switch Affidavit Illinois Secretary Of State 2015-2021 Form . Attach a copy of the bill of sale to this form while submitting it to the Secretary of State. Nevertheless, preparing and submitting form VSD 703.1 is not enough. May 2013 — 1 — VSD 703.1, TemplateRoller. Illinois If you claim that the sale is a “gift,” you or the purchaser will still be charged taxes for the Fair Market Value of the vehicle. Nevertheless, preparing and submitting form VSD 703.1 is not enough. Mail completed Seller’s Report of Sale Form VSD-703 to: Secretary of State Vehicle Services Department Record Inquiry 501 S. Second St., Rm. The record might be required by the Illinois Department of Revenue as a way to prove the buy price. Documentation From The Illinois DMV. All Rights Reserved. Under penalties of perjury, I hereby certify that the foregoing is true and correct under the laws of the United States of America. Before transferring the plates to another car, be sure to contact the SOS office. Download: Adobe PDF , Microsoft Word (.docx) , Open Document Text (.odt) Junk Vehicle Bill of Sale (Form VSD 658) – Available to validate a sale of a junk vehicle to an individual or salvage business. Illinois law, requires the owner of a vehicle to complete and sign the Assignment of Title section on the Certificate of Title to the buyer who must. completed and mailed to the Secretary of State Vehicle Services Department to ensure that your responsibility for the vehicle is released. Download a fillable version of Form VSD703.1 by clicking the link below or browse more documents and templates provided by the Illinois Secretary of State. In Illinois, a bill of sale is not required for title transfers. The Secretary of State, Vehicle Services Department issues VSD 703.1 or the Illinois Vehicle Sellers Report of Sale for a seller of a motor vehicle. For vehicles sold or gifted to new owners in a private sale, a copy of the VSD 703 (Seller’s Report of Sale) signed by the seller and certified by the Secretary of State, is acceptable. 408 You may choose to attach a copy of the duly signed bill of sale along with form VSD 703.1 while submitting it to the office of the Secretary. Florida Statute Section 720.401 (§718.503 for condominiums) provides that a prospective purchaser of a property must be presented with a homeowners' association Disclosure Summary before executing the contract of sale. Make sure to enter the date and time of executing the form. Illinois requires that an owner submit the state-provided form for a Junked Vehicle (VSD 658), along with a Certificate of Final Disposition (VSD 657), if he/she has the lost the vehicle’s title certificate and plans to send it to a salvage yard. Calling it a gift does not make it a gift! 408 Springfield, IL 62756 ACCESS FORM. This date and time must be same as it appears on the vehicle bill of sale. It's legal proof that substantiates the simple fact of the purchase and also protects the lawful interests of the, owner and the client. Vehicle Services Department Once the document is signed with all the details of the transaction inputted, the form becomes a legally enforceable contract. Special Bill of Sale. ______________________________________________________________________, Printed by authority of the State of Illinois. © 2021 DIYForms.net. This form is also known as release of the liability form or notice of the transfer of the ownership. Submit a completed Seller’s Report of Sale, Form VSD 703 to the Illinois SOS Vehicle Services Department. Click on "Get Consumer Help" at the top of the website, then select "File a Complaint" from the drop-down menu. Form Vsd703.1 Is Often Used In Illinois Vehicle Bill Of Sale, Vehicle Bill Of Sale, Bill Of Sale, Illinois Secretary Of State, Secretary Of State Forms, Illinois Legal Forms, Legal, Business And United States Legal Forms. They submit the assigned title with an application for a new title (form VSD 190). Be sure to take the license plates off of the vehicle, before handing the car over to the buyer. The statute provides the form sellers must use to disclose the required information. However, it if highly suggested that you complete one anyway when you are making a vehicle sales transaction. 1986 HUD-1 Form; Standard, government-issued form, used by the settlement (closing) agent. then apply to the Vehicle Services Department. ACCESS FORM. Consult with the appropriate professionals before taking any legal action. The latest edition provided by the Illinois Secretary of State; Compatible with most PDF-viewing applications. It’s the buyer’s job to get a new title. The title must also have signed and printed names of all the buyers and sellers, certifying the odometer reading as the actual mileage on the car’s odometer. You must complete and mail the Notice of Sale form to the Secretary of State’s office. Fill Out The Seller's Report Of Sale - Illinois Online And Print It Out For Free. Click on the name of your county and enter your zip code. Download the document to your desktop, tablet or smartphone to be able to print it out in full. As of today, no separate filing guidelines for the form are provided by the issuing department. 2) TO COMPLETE THE SELLER'S REPORT OF SALE FORM BY MAIL: Please print and complete the Seller’s Report of Sale Form VSD-703. Exchange contact information with the buyer. Seller’s Report of Sale Secretary of State Vehicle Services Department Record Inquiry Section 501 S. Second St., Rm. Date of Sale __________________________________________________________________________________________________, Vehicle Year______________________Vehicle Make____________________________________________________________________, Vehicle Identification Number (VIN) ________________________________________________________________________________, ______________________________________________________________________________________________, Address of Seller ________________________________________________________________________________________________, ________________________________________________________________________________________________, Address of Buyer ________________________________________________________________________________________________. Once signed, the bill of sale becomes a legally binding contract. VSD 703.1 or the Illinois Vehicle Sellers Report of Sale is a crucial document for the seller of a motor vehicle in the Illinois State.