Form MV2928. Instructions for Selling a Vehicle / Sample Bill of Sale

The Form MV2928 is an essential document required for selling a vehicle in Wisconsin. Its purpose is to ensure a smooth and legal transfer of ownership between the selling owner(s) and the buyer(s). This form consists of various sections that need to be completed accurately and signed by the relevant parties.

The important fields on the Form MV2928 include:

1. Title Signature: The selling owner(s) must sign and date the title in the designated area. If there are multiple owners listed on the title, all owners must sign if their names are separated by "and." If their names are separated by "or," any of the owners can sign.

2. Odometer Mileage Statement: A federal law requirement, this section requires the seller to provide the vehicle's odometer reading at the time of sale. Accurate mileage disclosure is crucial to prevent odometer fraud.

3. Brand Disclosure: If applicable, the seller needs to complete this section, disclosing any relevant information about the vehicle's history, such as salvage or rebuilt status.

4. Selling Price: The selling price of the vehicle must be filled in on the title. It is worth noting that suspiciously low sale prices may prompt investigation by the Wisconsin Department of Revenue.

5. Buyer Information: The name and address of the buyer(s) should be provided on the title. This ensures that the new owner's details are recorded correctly.

6. Lien Release: If there is an outstanding loan on the vehicle, the seller must pay it off before transferring ownership. The seller should obtain a lien release document from their lien holder and provide it to the buyer, who will need it to title the vehicle.

7. License Plates: The seller must remove the license plates from the vehicle, except in specific cases where the vehicle is exempt, such as trucks registered at 10,000 pounds or more, farm trucks registered at 16,000 pounds or more, mopeds, trailers, or mobile homes.

Additionally, if the vehicle is sold by a private individual to another private individual, the seller must complete the online seller notification within 30 days of the sale. This can be done at wisconsindmv.gov/sellernotify.

It is crucial to follow these instructions carefully and accurately fill out the form to avoid any legal complications in the transfer of ownership. Remember not to sign the title or give it to anyone until you have received payment for the vehicle.

The Form MV2928 is typically submitted to the Wisconsin Department of Transportation (WisDOT), Division of Motor Vehicles. It is recommended to keep a copy of the completed form for your records.

An example use case would be when an individual in Wisconsin wants to sell their car to another person privately. By following the instructions on the Form MV2928, the seller can ensure that the necessary steps are taken to transfer ownership legally and provide the required information to the buyer for titling the vehicle.

Related forms may include applications for duplicate titles, lien release forms, or vehicle registration forms. These forms serve specific purposes related to different aspects of vehicle ownership and should be used in conjunction with the Form MV2928 when necessary.

In conclusion, the Form MV2928 is a critical document for selling a vehicle in Wisconsin. Its proper completion and submission facilitate a smooth transfer of ownership and protect both the seller and the buyer. By following the instructions and providing accurate information, individuals can comply with state regulations and ensure a transparent transaction.