In Iowa, when selling or buying a vehicle in a private sale, you will need a Bill of Sale Iowa. The purpose of a bill of sale in Iowa is to act as evidence of the sale and will be needed when transferring the title of a vehicle to a new owner.
It is not, however, a requirement for the Iowa vehicle registration process in most cases. The bill of sale for Iowa also protects both parties should there be any legal disputes related to the sale of the vehicle. Along with the bill of sale, the buyer should be given the certificate of title, an odometer statement, and a damage disclosure statement.
For private sales of vehicles, an odometer disclosure statement (Form 411077) will also be required.
The bill of sale for Iowa will need to be signed by both parties (seller and buyer of the vehicle). The signatures must be witnessed and notarized by a legitimately licensed notary public.
If you are registering, signing for, or purchasing a vehicle on behalf of another, you will need to complete an Iowa motor vehicle power of attorney (Form 411021)
Creating A Bill of Sale for Iowa
You can obtain a bill of sale for Iowa on the Iowa treasurer’s website.
Alternatively, you can create your own form, but you must have the following details on the document:
- Details about the vehicle such as VIN, make, model, and year of the vehicle
- Full names of both the buyer and seller
- The date that the sale was made
- The amount that the vehicle was sold for
- Contact details of both the buyer and seller
- Signatures of both parties, which must be witnessed by a notary
- The notary statement and signature at the end of Iowa bill of sale
How to Register a Vehicle in Iowa
If you are registering your motor vehicle for the first time in Iowa, you have 30 days from the date of the purchase to do so. If you are a new resident of the state of Iowa, you have 30 days from the date that you have established your residency to register your vehicle. Registration renewal is required annually by the owner of the vehicle.
The county treasurer will send you a notice letter to remind you of the upcoming renewal date one month before the current one expires. You can renew your vehicle registration online via the county treasurer online portal.
Where to register a vehicle
Registering vehicle ownership for the first time must be done in person at your local county treasurer’s office.
Documents Required for Vehicle Registration in Iowa
When registering your vehicle, you will need to provide the following:
- A valid and current Iowa driver’s license
- A completed Iowa vehicle bill of sale
- A completed odometer disclosure statement (Form 411077)
- The original certificate of title, properly signed. You can find out how to transfer a title on Iowa’s DMV site.
- A completed application form for certificate of title or registration for a vehicle (Form 411007)
- If you are registering the vehicle on behalf of the owner, you will need to complete a motor vehicle power of attorney (Form 111021)
- If the vehicle is 8 years or newer, you will need a completed damage disclosure statement (Form 41108)
- Funds to cover the correct amount for registration fees
- Proof of motor vehicle insurance. Insurance must have the minimum liability coverage:
- Cover for death or bodily injury for one individual of $20,000 – per accident
- Cover for death or bodily injury for two or more individuals of $40,000 – per accident
- Cover for any destruction or property or injury to others for $15,000 – per accident
Once you have completed the registration process, you will receive your registration stickers and license plates in the mail. In Iowa, you are allowed to drive a newly purchased vehicle without plates for up to 30 days, but you must have a notarized bill of sale as proof.
As per Iowa code, section 321.109, and sections 321.115 to 321.124, any vehicle that is being driven on public roads in Iowa must be registered. Registration and taxing must be paid to a county treasurer’s office in the county that you are registered in.
A bill of sale Iowa is a very important document while buying or selling a motor vehicle in Iowa. This article aims to guide you about all of the necessary requirements for its preparation along with the requirements for the filing procedure of this form.