The Indiana Statement of Existing Lease Agreement (State Form 12787) is a legal document required by the Bureau of Motor Vehicles (BMV) for the title and registration of leased motor vehicles in Indiana. This form is used when a lease agreement is established between a lessor (the vehicle owner) and a lessee (the person leasing the vehicle). It provides essential information about the vehicle, the leasing parties, and how fees such as plate fees and county excise taxes will be handled. The form is a crucial step in ensuring that both parties—lessor and lessee—agree on the terms of the lease and that the vehicle is properly registered with the state.
How to File the Indiana Statement of Existing Lease Agreement
To file the Statement of Existing Lease Agreement form, both the lessor and the lessee must complete and sign the document. The signed form should then be presented to the Bureau of Motor Vehicles for processing the vehicle’s title and registration. It is vital to ensure that all required fields are completed accurately, as any missing or incorrect information could delay the registration process.
How to Complete the Indiana Statement of Existing Lease Agreement: Line-by-Line Instructions
Section 1: Lease Information
- Lessor and Address
- Line 1: Enter the name and address of the owner or lessor (the person or company leasing the vehicle to the lessee).
- Vehicle Information
- Line 2: Enter the year, make, and identification number (Vehicle Identification Number – VIN) of the vehicle being leased.
- Lessee Information
- Line 3: Enter the name and address of the lessee (the person leasing the vehicle).
- Line 4: Enter the county in which the lessee resides.
Section 2: Payment and Ownership Details
- Fee Responsibility
- Line 5: Check whether the plate fee and county excise tax will be paid by the lessee or the lessor. Only one option can be selected.
- If ownership of the plate or excise tax differs from what’s indicated, an affidavit explaining the ownership must be attached.
Section 3: Legal Statement and Signatures
- Affidavit of Truthfulness
- Line 6: Read and review the affidavit. Both the lessor and lessee must sign the form under penalty of perjury, stating that the information provided is accurate and complete.
- Signature of Lessor
- Line 7: The lessor (vehicle owner) must sign and date the form. This confirms their agreement to the lease terms and their commitment to the contents of the document.
- Signature of Lessee
- Line 8: The lessee must also sign and date the form, confirming their understanding and agreement to the lease terms and conditions.