Vehicle Laws - Transfer of Used Vehicles - Repeal of Notarized Bill of Sale Requirement

Summary

The new law eliminates the mandate that a notarized bill of sale be filed with the Motor Vehicle Administration when a used vehicle is sold. It updates the definitions of fair market value and the excise tax calculations that apply to private sales, while still requiring basic purchase‑price documentation. The change simplifies paperwork for private sellers, dealers and buyers and aims to reduce transaction costs.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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