49 CFR 580.7 - Disclosure of odometer information for leased motor vehicles.
(a) Before executing any transfer of ownership document, each lessor of a leased motor vehicle shall notify the lessee in writing that the lessee is required to provide a written disclosure to the lessor regarding the mileage. This notice shall contain a reference to the federal law and shall state that failure to complete or providing false information may result in fines and/or imprisonment. Reference may also be made to applicable State law.
(b) In connection with the transfer of ownership of the leased motor vehicle, the lessee shall furnish to the lessor a written statement regarding the mileage of the vehicle. This statement must be signed by the lessee and, in addition to the information required by paragraph (a) of this section, shall contain the following information:
(1) The printed name of the person making the disclosure;
(2) The current odometer reading (not to include tenths of miles);
(3) The date of the statement;
(4) The lessee's name and current address;
(5) The lessor's name and current address;
(6) The identity of the vehicle, including its make, model, year, and body type, and its vehicle identification number;
(8) The date that the completed disclosure statement was received by the lessor; and
(9) The signature of the lessor.
(c) In addition to the information provided under paragraphs (a) and (b) of this section,
(3) If the lessee knows that the odometer reading differs from the mileage and that the difference is greater than that caused by odometer calibration error, he shall include a statement that the odometer reading is not the actual mileage and should not be relied upon.
(d) If the lessor transfers the leased vehicle without obtaining possession of it, the lessor may indicate on the title the mileage disclosed by the lessee under paragraph (b) and (c) of this section, unless the lessor has reason to believe that the disclosure by the lessee does not reflect the actual mileage of the vehicle.
Title 49 published on 09-Jun-2018 04:52
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 49 CFR Part 580 after this date.