In addition to payment for applicable taxes and fees, Maryland requires individuals to submit an Application for Certificate of Title, a Maryland Certificate of proof of ownership, an Odometer Disclosure Statement, and proof of purchase, such as a bill of sale signed by the buyer and seller. Individuals can register and title vehicles by visiting a MVA branch office location mailing the documents to the department’s Mail In Title Unit, or visiting an MVA licensed tag and title service. The state’s minimum excise tax is $38.40. Maryland charges an excise tax of 6% of the vehicle’s book value or 6% of the purchase price on the notarized bill of sale for any vehicle that is fewer than 7 years old. As a public service, the MVA provides a list of interpreters and translation providers. Any document, including a bill of sale, must be translated into English.
Maryland only accepts documents in English. Also, a bill of sale must be notarized and include the notary’s printed name, signature, and commission expiration of the notary. If the vehicle is being sold for less than book value, the document must include a reason for the price reduction.
Maryland requires a personalized bill of sale containing: Details to Include in a Customized Bill of Sale
Therefore, the MVA recommends buyers and sellers keep transfer of ownership papers and other documents for their own records. Additionally, a bill of sale can be referenced to ensure proper taxes were paid.įinally, Maryland only regulates licensed dealer sales, so keeping a record of a sale is especially important in private vehicle sales. If the new owner fails to properly register and title the vehicle, the seller can prove he/she no longer owns the vehicle by showing the bill of sale. A bill of sale provides buyers and sellers with a record of the vehicle transaction and proves ownership changed.įor example, if the seller racked up a large number of tickets, got into an accident, or used the vehicle during the commission of a crime prior to the sale, it protects new owner. Advantages of Having a Bill of SaleĮven if Maryland did not require a bill of sale, it is good practice to create and keep one. Additionally, if the sale price of the vehicle is within $500 of the retail value listed in the National Publication of Used Car Values, MVA will accept the purchase price as completed on the title.
If a vehicle is sold for book value or more and is older than 7, an individual only needs to write in the purchase price, sale date, and the odometer reading under the “Assignment of Ownership” section on the Maryland Certificate of Title to change ownership. MVA will also accept a customized bill of sale for a car that is older than 7 years and sold at or above book value at the time of registration. The MVA provides a downloadable form that must be used if the vehicle is fewer than 7 years old and the sale price is below book value. Those who don’t have access to the association’s book value listings can confirm a vehicle’s book value by calling the MVA at (400) 768-7000. Maryland Motor Vehicle Administration (MVA) requires a bill of sale to register and title any vehicle that is less than 7 years old and the sale price was less than the National Automobile Dealers Association book value.Ī bill of sale is a legal document that proves a vehicle or other item was sold and ownership has been transferred. By detailing information about the animal being sold, you can protect yourself from fraudulent sales.Ĭheck out Maryland Horse Bill of Sale Maryland Vehicle Bill of Sale Requirements Use a Maryland horse bill of sale to record the transfer of a horse or pony in the state of Maryland.
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