The California Form REG 262 is a crucial document for anyone involved in the transfer of vehicle or vessel ownership within the state. This form serves multiple purposes, including acting as a bill of sale and providing essential information regarding the vehicle or vessel being transferred. It requires detailed descriptions, such as the identification number, make, model, and year of the vehicle or vessel. Additionally, the form includes sections for both the seller and buyer to disclose the sale price or gift value, as well as the odometer reading at the time of transfer. It is important to note that the odometer disclosure must be accurate, as any alterations can invalidate the statement and may lead to legal consequences. The REG 262 also allows for the appointment of a power of attorney, enabling another individual to act on behalf of the seller or buyer in completing necessary documents. This form must accompany the title or application for a duplicate title and should be filled out in ink, as photocopies are not accepted. Understanding the requirements and implications of the REG 262 is essential for ensuring a smooth and lawful transfer process.