Casual Sale OM 12-D or WC 12-D
This letter is sent to the buyer of the watercraft or outboard motor to verify the consideration given for the watercraft or outboard motor.
How do I respond?
Line 1 – Place the amount of money you gave for the watercraft or outboard motor.
Line 2 – Did you take over the seller’s loan to pay off the watercraft or outboard motor? If so, place the amount of the loan balance that the buyer took over on this line. Any amount used to pay off the seller’s loan should be placed on this line, even if you did not physically pay the seller.
Line 3 - Did you trade watercraft or outboard motors? If you did, write down the fair market value as well as the year, make, and model of the watercraft or outboard motor you gave in exchange for the referenced vehicle. (Failure to provide a fair market value will result in a value being assigned for you)
Line 4 – Did you provide other goods or services for the watercraft or outboard motor instead of money? If so, write down what you gave and assign a fair market value to those goods or services. (Failure to provide a fair market value will result in a value being assigned for you)
Line 5 – Add up the amounts listed on lines 1 through 4 and place the total on this line.
Line 6 – Assign a condition to the watercraft or outboard motor based on your knowledge of the vehicle.
Line 7 – A daytime contact number is needed in case there are any additional questions.
Line 8 - This area is provided in case there are any other relevant details relating to this transaction.
Any false representation of the price is in violation of section 2921.13 of the Ohio Revised Code. Violation of this section is punishable by six months imprisonment, a fine of up to $1,000, or both.
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