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File Breakdown

Fact Name Description
Form Purpose The Texas Odometer Statement form (VTR-40) is used to disclose the vehicle's mileage during ownership transfer.
Legal Requirement Federal and Texas law mandates that the mileage must be accurately stated when transferring vehicle ownership.
Consequences of False Information Providing false information on the form can lead to fines and/or imprisonment, as per Transportation Code, §501.155.
Form Limitations This form cannot be used with title transfer documents that meet federal and state odometer disclosure requirements, such as titles issued after April 29, 1990.

Key takeaways

When filling out and using the Texas Odometer Statement form, it is essential to keep several key points in mind. Understanding these will help ensure compliance with the law and facilitate a smooth vehicle transfer process.

  • Accuracy is Crucial: Always provide the actual mileage of the vehicle. Misrepresenting this information can lead to serious legal consequences, including fines or imprisonment.
  • Form Limitations: The Texas Odometer Statement form cannot be used alongside title transfer documents that already meet federal and state odometer disclosure requirements. Ensure you are using the correct forms for your transaction.
  • Check for Discrepancies: If the odometer reading is not accurate, or if it exceeds mechanical limits, make sure to check the appropriate boxes on the form. This protects both the seller and buyer from potential disputes.
  • Signature Requirements: Both the seller and buyer must sign the form. The signatures should match the printed names to validate the transaction. If a firm is involved, include the firm’s name where indicated.
  • Legal Consequences: Be aware that falsifying information on the Odometer Statement is considered a third-degree felony under Texas law. This underscores the importance of honesty and accuracy in all disclosures.

Dos and Don'ts

When filling out the Texas Odometer Statement form, there are important dos and don'ts to consider. The following list outlines ten key points to ensure accurate completion of the form.

  • Do provide the correct odometer reading without tenths.
  • Do include all required vehicle information, such as year, make, model, and Vehicle Identification Number.
  • Do sign and date the form in the designated areas.
  • Do print your name clearly, matching the signature provided.
  • Do check the appropriate box if the odometer reading is not the actual mileage.
  • Don't leave any sections blank; ensure all fields are completed.
  • Don't provide false information, as this can lead to legal consequences.
  • Don't use the form for title transfers that do not meet federal and state requirements.
  • Don't forget to acknowledge the odometer disclosure if you are the buyer or agent.
  • Don't neglect to review the form for accuracy before submission.

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Instructions on Filling in Texas Odometer Statement

Completing the Texas Odometer Statement form is a straightforward process, but accuracy is essential. Once the form is filled out, it must be signed by both the seller and the buyer or their agents. This documentation will help ensure a smooth transfer of vehicle ownership.

  1. Begin by entering the Seller/Agent Name at the top of the form.
  2. Fill in the Vehicle Description section, including the following details:
    • Year
    • Make
    • Body Style
    • Model
    • Vehicle Identification Number (VIN)
  3. In the section that states "I, ______________________________________________," write your name to certify the odometer reading.
  4. Provide the Odometer Reading (No Tenths) in the designated space.
  5. If applicable, check one of the statements regarding the odometer reading:
    • The mileage stated is in excess of its mechanical limits.
    • The odometer reading is not the actual mileage.
  6. Sign and date the form in the Signature of Seller/Agent section.
  7. Print your name in the Printed Name section, ensuring it matches your signature.
  8. If the vehicle is titled in a firm's name, print the firm's name above your signature.
  9. Complete your Street Address, City, State, and Zip Code.
  10. The buyer or their agent must then sign and date the Acknowledgment of Odometer Disclosure section.
  11. Finally, the buyer or agent should print their name and complete their address details in the same manner.

Misconceptions

The Texas Odometer Statement form is essential for vehicle ownership transfers, yet several misconceptions persist regarding its use and requirements. Understanding these misconceptions is crucial for both sellers and buyers.

  • Misconception 1: The form is optional for all vehicle sales.

    • In reality, the Texas Odometer Statement is a legal requirement for transferring ownership of a vehicle. Both federal and state laws mandate its completion.

  • Misconception 2: Any document can serve as an odometer disclosure.

    • This is incorrect. The Texas Odometer Statement must be used specifically for odometer disclosures and cannot be substituted with other documents.

  • Misconception 3: The form can be used for vehicles titled before April 29, 1990.

    • In fact, the form is not applicable to title transfer documents for vehicles issued a Texas Certificate of Title before this date.

  • Misconception 4: Only the seller needs to sign the form.

    • Both the seller and the buyer (or their agents) must sign the form, acknowledging the odometer disclosure.

  • Misconception 5: Providing an inaccurate odometer reading is a minor issue.

    • On the contrary, providing false information can lead to severe penalties, including fines and potential imprisonment.

  • Misconception 6: The odometer reading can be estimated.

    • The statement must reflect the actual mileage of the vehicle. Estimates are not acceptable.

  • Misconception 7: The form is only necessary for used vehicles.

    • This is misleading. The form is required for both new and used vehicles during ownership transfers.

  • Misconception 8: The form is only relevant in Texas.

    • While this form is specific to Texas, similar odometer disclosure requirements exist in other states, governed by federal law.

  • Misconception 9: The odometer disclosure can be completed after the sale.

    • It is essential to complete the odometer disclosure at the time of the sale to comply with legal requirements.

Addressing these misconceptions is vital for ensuring compliance and protecting the interests of all parties involved in vehicle transactions.