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VSD 703.1 or the Illinois Vehicle Sellers Report of Sale is a crucial document for the seller of a motor vehicle in the Illinois State. Illinois Compiled Statutes offers the guidelines to satisfy the requirements of the transfer of the ownership. Nevertheless, preparing and submitting form VSD 703.1 is not enough. In addition, the seller requires signing assignment of the title portion of the certificate of the title and the buyer requires applying to Vehicle Services Department transfer and registration. Address to send the duly prepared and signed form VSD 703.1 is
Secretary of State
Vehicle Services Department
Record Inquiry Division
501 S. Second St., Rm. 408
Springfield, IL 62756
Important Considerations For You As A Seller Of A Motor Vehicle
You need to prepare form VSD 703.1 and submit to the Secretary of State Vehicle Services Department immediately after selling the vehicle. Moreover, it helps you to release your responsibility and liability towards the ownership of the vehicle.
- You must prepare a vehicle bill of sale along with preparing form VSD 703.1.
- This form is also known as notice of transfer of the ownership.
- You may need to surrender the vehicle license plate upon submission of the seller’s report of sale.
- This form must comprise information about you, vehicle, and the buyer.
- Make sure to enter the date and time of executing the form. This date and time must be same as it appears on the vehicle bill of sale.
- You may choose to attach a copy of the duly signed bill of sale along with form VSD 703.1 while submitting it to the office of the Secretary.
How To Write: VSD 703.1 or the Illinois Vehicle Sellers Report of Sale
- Write the date of the sale on the first line of the form VSD 703.1.
- Continue by entering the year of manufacturing and make of the motor vehicle.
- Then enter the VIN on the next line.
- Write seller’s name and physical address.
- Then write buyer’s name and the physical address. However, both the name and the address of the buyer must match with the name and the address on the bill of sale.
- The seller must enter print name and date of execution and then sign the form.
Free Illinois Vehicle Sellers Report of Sale - PDF Download
The Secretary of State, Vehicle Services Department issues VSD 703.1 or the Illinois Vehicle Sellers Report of Sale for a seller of a motor vehicle. This form is also known as release of the liability form or notice of the transfer of the ownership. Attach a copy of the bill of sale to this form while submitting it to the Secretary of State. However, make sure to complete this form in its entirety and sign to execute it. Keep a copy of the form for your record.