A Maine Motorcycle Bill of Sale is a document that is required whenever a motorcycle is purchased from either a private person or a dealership.
Both the buyer and seller are required to sign the bill of sale.
- What is a Maine Motorcycle Bill of Sale Form?
- Is a Motorcycle Bill of Sale Form Required in Maine?
- Do You Need a Bill of Sale to Register a Motorcycle in Maine?
- How Do I Transfer Ownership of a Motorcycle in Maine?
- Does a Maine Motorcycle Bill of Sale Need to Be Notarized?
- Buying and Selling a Motorcycle in Maine
- How to Write a Motorcycle Bill of Sale in Maine
- Maine Motorcycle Bill of Sale Sample
What is a Maine Motorcycle Bill of Sale Form?
The Maine motorcycle bill of sale is a record of the transfer of ownership of a motorcycle from the seller to the buyer and includes relevant information about the sale.
A bill of sale will typically contain the parties’ names and contact information, the purchase price, the date of the sale, the make and model of the motorcycle in question, and more.
Is a Motorcycle Bill of Sale Form Required in Maine?
Yes, a motorcycle bill of sale is required in Maine.
A motorcycle must be registered before it can be operated in Maine and the bill of sale is required for registration with the Maine Bureau of Motor Vehicles (state-provided sample form for reference).
Do You Need a Bill of Sale to Register a Motorcycle in Maine?
Yes, a bill of sale is required for motorcycle registration in Maine.
Registration is something that must be done in person.
The signed bill of sale is not the only required document for registration, however.
Additional required documents include:
- The Certificate of Title for the motorcycle, if 300 cc or greater and model year 1995 or newer, signed over from the seller to the buyer.
- An odometer disclosure statement, otherwise known as Form MVT-32. This confirms the current mileage on the motorcycle.
- A receipt that proves that the applicable excise tax has been paid to the local town office.
- A copy of the registration application that has been properly filled out.
- A photocopy of a valid Maine driver’s license.
- If the motorcycle is brand new and is being purchased from a dealer, a manufacturer’s suggested retail price sticker will also be required.
- Payment of 5.5% state sales tax, title application fee and appropriate registration fees.
Additionally, Maine is one of the many states that will require proof of minimum insurance coverage prior to registration.
The minimum coverage is $50,000 per person, $100,000 per accident for bodily injury and $25,000 for any property damage.
A combined single limit of $125,000 is also acceptable to satisfy the minimum limit requirement.
How Do I Transfer Ownership of a Motorcycle in Maine?
Transferring ownership of a motorcycle in Maine is a process handled through the Bureau of Motor Vehicles.
In addition to the bill of sale and documents verifying the identity of the buyer and seller, the Certificate of Title will need to be submitted as well.
Can I Transfer Motorcycle Title With a Bill of Sale Only?
It is not possible to transfer a title in Maine using only the bill of sale.
All the previously listed documents are required to properly transfer title in Maine.
Does a Maine Motorcycle Bill of Sale Need to Be Notarized?
A Maine motorcycle bill of sale does not have to be notarized to be considered valid.
However, having a notary public acknowledge the parties’ signatures adds a layer of protection if questions of ownership come up later.
Buying and Selling a Motorcycle in Maine
Every transaction is unique – especially when you’re buying or selling something as expensive as a motorcycle.
Having said that, there are still a few key best practices that you can follow.
Step 1 – Meeting with the Potential Buyer
It’s always important for the buyer and seller to meet ahead of time so that each party can confirm that the other is legitimate.
From the point of view of a buyer, it helps them feel at ease knowing that they’re not involved in a scam.
From the perspective of the seller, they can see that the buyer is serious and act accordingly.
Step 2 – Terms and Conditions
When the parties meet before the sale, the terms and conditions of the transaction can be properly discussed.
This includes the purchase price, the date of the purchase, and any other specifics of the agreement.
The buyer will likely want to inspect the motorcycle during this time as well to make sure that it matches the description that they were previously given, especially in terms of the motorcycle’s condition.
How to Write a Motorcycle Bill of Sale in Maine
While the exact formatting of a motorcycle bill of sale may vary slightly depending on the specifics of your transaction, they will all require the same basic information.
Step 1 – Fill in Buyer and Seller Information
There will be appropriate spaces on the bill of sale to fill in the printed names of the buyer and seller, their addresses and contact information, as well as their signatures.
Step 2 – Fill in Motorcycle and Sale Transaction Information
It’s also important to fill out all relevant information about not only the motorcycle but the transaction itself.
Specify the year, make, model, vehicle identification number (VIN), color, and total number of miles (odometer reading) for the motorcycle that is to be purchased.
Include the purchase price of the motorcycle and the date of the sale.
Overall, it’s always important to put together a complete motorcycle bill of sale for each transaction.
Not only does it act as a confirmation of the terms and conditions of said sale, but it’s also required for registration with the state – something you must do before you can take that motorcycle out onto the road.
If you’d like to find out more information, or if you’d like to get motorcycle bill of sale template instructions to help make the whole process easier, use our document builder today.
Maine Motorcycle Bill of Sale Sample
Below is an example of a Maine motorcycle bill of sale.