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Is an odometer disclosure statement required when involuntary divestiture occurs?

April 26, 2017disclosure divestiture Involuntary occurs odometer

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Is an odometer disclosure statement required when involuntary divestiture occurs?

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Yes. The seller, although not the owner of record, must complete an odometer disclosure statement as transferor, and the buyer must acknowledge the disclosure as transferee. The department may approve disclosure by the transferee only in extenuating circumstances.