North Carolina § 20-347 - Disclosure requirements.

§ 20-347. Disclosure requirements.

In connection with the transfer of a motor vehicle, the transferor shall disclose the mileage to the transferee in writing on the title or on the document used to reassign the title. This written disclosure must be signed by the transferor, including the printed name, and shall contain the following information: The odometer reading at the time of the transfer (not to include tenths of miles); The date of the transfer; The transferor's name and current address; The transferee's printed name, signature and current address; The identity of the vehicle, including its make, model, body type, and vehicle identification number, and the license plate number most recently used on the vehicle; and Certification by the transferor that to the best of his knowledge the odometer reading Reflects the actual mileage; or Reflects the amount of mileage in excess of the designed mechanical odometer limit; or Does not reflect the actual mileage and should not be relied on. , (7) Repealed by Session Laws 1989, c. 482, s. 2. 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 written disclosure to the lessor regarding mileage. In connection with the transfer of ownership of the leased motor vehicle, the lessee shall furnish to the lessor a written statement signed by the lessee containing the following information: The printed name of the person making the disclosure; The current odometer reading (not to include tenths of miles); The date of the statement; The lessee's printed name and current address; The lessor's printed name, signature, and current address; The identity of the vehicle, including its make, model, year, body type, and vehicle identification number; The date that the lessor notified the lessee of the disclosure requirements and the date the lessor received the completed disclosure statement; and Certification by the lessee that to the best of his knowledge the odometer reading: Reflects the actual mileage; Reflects the amount of mileage in excess of the designed mechanical odometer limit; or Does not reflect the actual mileage and should not be relied on. Repealed by Session Laws 1973, c. 1088. It shall be unlawful for any transferor to violate any rules under this section or to knowingly give a false statement to a transferee in making any disclosure required by such rules. The provisions of this disclosure statement section shall not apply to the following transfers: A vehicle having a gross vehicle weight rating of more than 16,000 pounds. A vehicle that is not self-propelled. A vehicle sold directly by the manufacturer to any agency of the United States in conformity with contractual specifications. A vehicle that is 10 years old or older. A new vehicle prior to its first transfer for purposes other than resale. A vehicle that is transferred by a State agency that assists the United States Department of Defense with purchasing, transferring, or titling a vehicle to another State agency, a unit of local government, a volunteer fire department, or a volunteer rescue squad. 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 this subsection, unless the lessor has reason to believe that the disclosure by the lessee does not reflect the actual mileage of the vehicle. History (1973, c. 679, s. 1; c. 1088; 1983, c. 387; 1989, c. 482, ss. 2-5; 1993, c. 553, s. 11; 2009-550, s. 2(d).) Effect of Amendments. - Session Laws 2009-550, s. 2(d), effective August 28, 2009, added subdivision (d)(5) and made related changes.