Form MV-016 (SD EForm 0860 V1), Bill of Sale is a legal document that proves the sale and purchase of a motor vehicle or watercraft took place. It can be used both as a Bill of Sale for both vehicles and boats in South Dakota. This document states the date of the transaction, describes the vehicle or boat, identifies the purchaser and the seller, and indicates the sum of money paid for the item.
This form was released by the South Dakota State Government. The latest version of the form was issued on March 1, 2004, with all previous editions obsolete. You can download a fillable Form MV-016 through the link below.
The purchaser has 30 days from the date of the transaction to register a vehicle, whether it was bought from a private individual or a dealership. The documentation must be submitted to the County Treasurer's Office nearest to you, and it is required to appear there in person. You will need a completed Application for Motor Vehicle Title and Registration (SD EForm 0864 V20), a Bill of Sale and signed-over title, an odometer reading statement, proof of paid auto insurance, and your driver's license.
Until you have registered your car or boat, you have one month to use it without registration, however, do not delay this process to avoid legal issues that may take place. Once the title is transferred, the purchaser is no longer vulnerable to different disagreements and disputes and may use vehicle documentation in all government agencies and courts of law.
The state of South Dakota does not require a notary public's certification for vehicle sales but it is generally a good idea to have a notary or witness to a sale in order to confirm a transaction has taken place. This can save any potential trouble which might occur should the seller or buyer contest the transaction at a later date.
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