The Michigan bill of sale form TR-207 is a legal document used to record the transfer of ownership of a vehicle or watercraft between a seller and a buyer. This document contains important information about the parties involved in the sale, the vehicle or watercraft being sold, and the terms of the sale. To complete the Michigan bill of sale form TR-207, follow these steps:
Step 1: Obtain the Form
You can get the Michigan bill of sale form TR-207 from the Michigan Secretary of State’s website or by visiting any Secretary of State branch office. If you prefer, you can also request a copy by mail.
Step 2: Identify the Parties Involved
You will need to fill in the full legal names, addresses, and driver’s license or state ID numbers of both the seller and the buyer.
Step 3: Describe the Vehicle or Watercraft
You will need to provide some information about the vehicle or watercraft being sold, including the year, make, model, body type, VIN/HIN, and odometer reading. If the vehicle or watercraft is exempt from odometer disclosure, make sure to check the appropriate box.
Step 4: Indicate the Sale Price
You will need to enter the agreed-upon sale price in dollars.
Step 5: Record any Liens
If there are any liens on the vehicle or watercraft being sold, you will need to enter the name of the lienholder and the amount of the lien.
Step 6: Sign and Date the Form
Both you and the other party (the seller or buyer) will need to sign and date the form in the presence of a notary public. The notary public will then acknowledge the signatures and affix their seal.
Step 7: Submit the Form
The seller is responsible for submitting the completed and notarized bill of sale form TR-207 to the Michigan Secretary of State within 15 days of the sale.
It’s important to keep in mind that the Michigan bill of sale form TR-207 does not replace a legal title transfer. The buyer must still complete a title transfer with the Michigan Secretary of State to obtain legal ownership of the vehicle or watercraft.