An Iowa Motorcycle Bill of Sale form confirms that a motorcycle has legally changed ownership from one person to another.
It includes information like the purchase date, the purchase price, and the names of the buyer and seller who were involved in the transaction.
- What Is an Iowa Motorcycle Bill of Sale Form?
- Is a Motorcycle Bill of Sale Form Required in Iowa?
- Do You Need a Bill of Sale to Register a Motorcycle in Iowa?
- How Do I Transfer Ownership of a Motorcycle in Iowa?
- Does an Iowa Motorcycle Bill of Sale Need to Be Notarized?
- Buying and Selling a Motorcycle in Iowa
- How to Write a Motorcycle Bill of Sale in Iowa
- Summary
- Iowa Motorcycle Bill of Sale Sample
What Is an Iowa Motorcycle Bill of Sale Form?
An Iowa motorcycle bill of sale form is a document that includes information relevant to the motorcycle sale, such as its current condition, the make, the model, the number of miles on the odometer, and more.
It also records details surrounding the transaction, such as the sale date and price.
All of this is necessary to help tie the motorcycle to the transaction that is taking place.
Is a Motorcycle Bill of Sale Form Required in Iowa?
Yes, a motorcycle bill of sale form is required in Iowa per the Iowa Department of Revenue.
In the state, a motorcycle cannot be legally used on the road until it is registered.
The motorcycle cannot be registered without, among other things, the aforementioned bill of sale.
Do You Need a Bill of Sale to Register a Motorcycle in Iowa?
Yes, you need a properly completed motorcycle bill of sale to register a motorcycle in Iowa.
Registration is something that needs to be done within 30 days of the date the motorcycle was purchased.
Registration will also need to be renewed every year with the County Treasurer in your county of residence or renewed online.
In addition to the bill of sale, you will need to provide the following to register your motorcycle:
- The current Certificate of Title
- A properly completed odometer disclosure statement form
- A completed application for a Certificate of Title and/or Registration
- If the motorcycle is 8 years old or newer, a damage disclosure form will also need to be submitted
- A copy of the buyer’s valid Iowa driver’s license
- Proof that any necessary registration fees have been paid
- Proof of insurance
To speak to the proof of insurance, note that any policy you have will need to meet Iowa’s minimum liability coverage.
This means $20,000 in coverage for bodily injury or death, $40,000 in bodily injury or death coverage for two or more people, and at least $15,000 to cover any potential injury to or destruction of property that may occur during an accident.
How Do I Transfer Ownership of a Motorcycle in Iowa?
To transfer ownership of a motorcycle in the state of Iowa, the buyer and seller need to properly fill out and sign the necessary paperwork.
Required documents include the current Certificate of Title, an application for a new Certificate of Title and/or Registration, and the motorcycle bill of sale.
At that point, the title, bill of sale, application, and all other relevant documents can be taken to your local county treasurer’s office.
Both parties should be present so that the title transfer process can be completed without delay.
Can I Transfer Motorcycle Title With a Bill of Sale Only?
In the state of Iowa, you cannot conduct a motorcycle title transfer using only the bill of sale.
All of the other aforementioned documents must be present.
Does an Iowa Motorcycle Bill of Sale Need to Be Notarized?
Yes, the state of Iowa requires that a motorcycle bill of sale be properly notarized.
The signatures contained on the document need to be verified prior to finalizing the transaction and registering the motorcycle.
Buying and Selling a Motorcycle in Iowa
When buying or selling a motorcycle in Iowa, there are a number of best practices that you’ll want to follow to avoid any potential issues later on.
Step 1 – Meeting With the Potential Buyer
Because buying and selling a motorcycle in Iowa is a major financial transaction, it’s always important that the buyer and seller meet in person (or at least have a thorough discussion on the phone) before any money exchanges hands.
This can help confirm to the seller that they have found a buyer who is serious about the purchase and who wants to go through with it.
For the buyer, this can also help confirm that the motorcycle is exactly what they’ve been looking for.
Step 2 – Determining the Details
Once both parties are satisfied with this initial encounter, things can proceed more or less as normal.
The buyer can inspect the motorcycle to verify that it is in working order and that all other details match up with what they were told.
A purchase price, date, and even the location can all be discussed as well.
How to Write a Motorcycle Bill of Sale in Iowa
When writing a motorcycle bill of sale in Iowa, there are a number of critical pieces of information that you’ll always want to include, including:
Step 1 – Fill in Buyer and Seller Information
First, make sure that all relevant buyer and seller information is accounted for.
Each party will have its own section on the form for full name, mailing address, phone number, and other contact information.
Step 2 – Fill in Motorcycle Information
Then, you can include all the necessary information pertaining to the motorcycle that is about to change ownership. This includes the vehicle identification number (VIN), year, make, and model itself.
Step 3 – Sale Price Information
Include the sale price and the date of the sale.
STep 4 – Sign and Finalize the Form
At that point, the information on the motorcycle bill of sale should be verified, both the parties sign and date, and acknowledged and signed by a notary public for the state of Iowa.
Summary
In the end, an Iowa motorcycle bill of sale is always a good idea when engaging in a transaction of this type.
Not just because it’s legally required to register the motorcycle, but also because it helps protect both the buyer and seller should some unforeseen issue arise later.
To find out more information about this process or to make things as straightforward as possible, use our motorcycle bill of sale template.
Iowa Motorcycle Bill of Sale Sample
Below is an example of what an Iowa motorcycle bill of sale looks like.
