If you are looking to transfer ownership of a vehicle, whether you are buying or selling, it is important to have a vehicle transfer agreement in place to protect yourself and the other party involved. This agreement can serve as a binding contract that both parties can rely on in the event of any disputes or disagreements that may arise down the line.
Here is a sample vehicle transfer agreement that you can use as a template for your own agreement:
VEHICLE TRANSFER AGREEMENT
This Vehicle Transfer Agreement (“Agreement”) is made and entered into this _______ day of _________, 20______, by and between ________ (the “Seller”) and ________ (the “Buyer”).
WHEREAS, the Seller is the owner of a certain vehicle, described as follows:
Vehicle Identification Number (VIN): _______
And desires to sell the vehicle to the Buyer;
WHEREAS, the Buyer desires to purchase the vehicle from the Seller and is willing to pay the purchase price as agreed upon by the parties.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. Purchase Price. The Buyer agrees to purchase the vehicle from the Seller for the purchase price of _______ dollars ($______).
2. Payment. The Buyer shall pay the purchase price to the Seller by cashier’s check, money order, or other form of certified funds.
3. Delivery of Vehicle. The Seller shall deliver the vehicle to the Buyer no later than _______ days after the Buyer pays the purchase price in full.
4. Representations and Warranties. The Seller represents and warrants that (a) the Seller is the sole owner of the vehicle and has the right to transfer ownership to the Buyer, (b) the vehicle has not been in any accidents, (c) the vehicle has not been stolen or subject to any liens or encumbrances, and (d) the vehicle is in good condition.
5. Indemnification and Liability. The Seller shall indemnify and hold harmless the Buyer from any and all claims, damages, costs, and expenses arising out of the Seller’s breach of any of the representations and warranties contained in this Agreement.
6. Governing Law and Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of _______ without giving effect to any choice of law or conflict of law provisions. Any disputes arising out of this Agreement shall be resolved in the courts of the State of _______.
7. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
By using this sample vehicle transfer agreement as a starting point, you can customize it to fit your specific needs and ensure that both you and the other party involved are protected. It is highly recommended to have an attorney review the agreement before signing to ensure that it is legally binding and enforceable.