Form TC-843, or a Utah motor vehicle bill of sale, is required to sell, purchase, register, and title vehicles within this state. These documents are necessary to conduct private transactions; authorized dealerships commonly don’t use bills of sale when selling vehicles to individuals. In addition, these documents are needed to prove ownership over one’s assets, which is necessary for registering and titling a vehicle in Utah.
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The Role of Bills of Sale in the Exchange of Motorized Vehicles in Utah
According to the official guide, a bill of sale is necessary to transfer ownership over a motorized vehicle. The document must include a comprehensive set of details about the vehicle being sold, including the purchase price and the date of transition. Signing the paper is important to signify relinquished legal liability over the asset. Once the form is signed by both parties, the seller won’t be responsible should the vehicle be abandoned or involved in a crime.
A Utah motor vehicle bill of sale doesn’t require notarization to obtain legal power. Although this form is quite simple to fill, it has a significant influence on a sales tax charged. If the document doesn’t specify the vehicle’s purchase price, the tax will be determined by the Tax Commission. It’ll evaluate the vehicle and determine its “Fair Market Value,” which will become a basis for taxation. See the official guide on taxes provided by the Utah government for detailed information.
Titling and Registering Your Vehicle in Utah: A Complete Guide
After completing the purchase, you must bring the following documents to a local Department of Motor Vehicles to title and register a vehicle:
- Vehicle title. The seller must transfer the title to the buyer at the moment of signing the bill of sale.
- Application for Utah Title. Also known as Form TC-656, this form is filled in at the DMV office when applying for a title.
- Applicant’s driver’s license. You must provide a Utah driver’s license to register the vehicle.
- Vehicle Identification Number inspection. This document is only required when registering vehicles purchased from out-of-state.
- Emission inspection. This certificate is necessary to register vehicles in several counties.