DEALER / AGENT RESCINDED SALE STATEMENT OF FACT (continued)
Wisconsin Department of Transportation MV2340
THIRD PARTY RESCINDED SALE INSTRUCTIONS
Procedure:
• To rescind a sale processed by a third party, a completed Rescinded Sale Statement of Fact explaining how the sale came to be
rescinded is signed by both buyer and seller(s) and submitted to the department by the seller within 45 days of the sale being
rescinded. This statement must confirm that the rescinded sale complies with all required criteria.
• Any plates issued must be recovered and returned to the Agent Partnership Unit with the completed Rescinded Sale Statement
of Fact unless the plate is being transferred to a replacement vehicle. If a temporary plate was issued the plate must be
recovered and destroyed.
• If the application was for a used vehicle, the title issued becomes the valid ownership document and must be assigned back to
the seller by the buyer. For a dealer sale, the new title will be used to transfer the vehicle by the dealer.
• The dealer must refund all money and fees to the buyer, including any fees paid with the application unless a replacement
vehicle has been provided by the dealer. Any fees refunded by DMV will be sent to the dealer via check.
• If the application was for a new vehicle, the title issued must be retrieved by the dealer and submitted to the department with
the completed Rescinded Sale Statement of Fact to allow the record to be put into a history status and imaged. A completed
odometer statement is required; giving the mileage at the time of return, by the customer to the dealer. The MCO will be
returned to the seller by the DMV, the dealership should not request a new MCO from the manufacturer, and the vehicle may
not be offered for sale until the rescinded sale application has been approved, processed, and the seller has had the
ownership document returned to them by the Department of Transportation.
• Any fees refunded to the buyer by the dealership shall be refunded to the dealer by check after all required documents are
received. ACH corrections/refunds will not be done. If a replacement vehicle is obtained from the same dealer they should
submit the new application to the processor who is handling the rescinded sale so that the fees can be credited to the
replacement vehicle application. Wheel tax refund requests should be referred to Revenue Processing Unit.
• For private-party Rescinded Sale information contact our general title or registration question phoneline: (608) 264-7447.