In the State of Tennessee the main purpose of a vehicle title is to establish who owns the vehicle. As vehicles are bought and sold, the title becomes the legal documentation of each change in ownership. Optionally you can complete a notarized Bill of Sale also. This serves as a legal contract from the seller to the buyer documenting the transaction.
The following information should appear on the Tennessee Bill of Sale Form:
– Name and address of the seller.
– Name and address of the buyer.
– Vehicle description, including Vehicle Identification Number (VIN), make, model, year.
– Vehicle odometer reading at the time of sale.
– Amount of sale.
– Date of sale.
– Signature of the seller.
For more information go to Tennessee Department of Revenue – Tennessee Vehicle Services Division.
Tennessee’s chief tax collector, the Department of Revenue administers and collects taxes and fees associated with state tax and motor vehicle title and registration laws. The Department of Revenue collects about 87 percent of total state tax revenue, along with taxes for local, county and municipal governments. The Department also apportions revenue collections for distribution to various state funds and local governments.
The Department of Revenue’s Vehicle Services Division provides motor vehicle title and registration services for passenger and commercial motor vehicles, motorcycles, ATVs, trailers and mobile homes.
Working with county clerks around the state, the Department registers more than six million vehicles and issues about two million new titles each year.