[Code of Federal Regulations]
[Title 49, Volume 5]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR580.7]

[Page 943-944]
 
                        TITLE 49--TRANSPORTATION
 
                            OF TRANSPORTATION
 
PART 580--ODOMETER DISCLOSURE REQUIREMENTS--Table of Contents
 
Sec. 580.7  Disclosure of odometer information for leased motor vehicles.

    (a) Before executing any transfer of ownership document, each lessor 
of a

[[Page 944]]

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;
    (7) The date that the lessor notified the lessee of disclosure 
requirements;
    (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,
    (1) The lessee shall certify that to the best of his knowledge the 
odometer reading reflects the actual mileage; or
    (2) If the lessee knows that the odometer reading reflects the 
amount of mileage in excess of the designed mechanical odometer limit, 
he shall include a statement to that effect; or
    (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.