If you need to buy or sell a car, the car title transfer is crucial. But what does that involve? How can you ensure everything is done correctly? In this post, you will find everything you need to know about transferring a car title. Keep reading for tips and advice on making the process as smooth and easy as possible.
What is Required for a Car Title Change?
The requirements for a car title change vary by state Department Motor Vehicle (DMV). Also, the AAApage online has essential information on what is required in every state. Essentials you may need:
- Drivers license
- Old title
- Odometer reading
- Bill of sale
- Vehicle Registration
- Car insurance
- Purchase price
The most vital thing is to know what each state requires because it varies.
What is the Vehicle Title Change Procedure?
The title transfer procedure is when a vehicle owner identifies and pays fees to receive a certificate of rightful ownership after selling or giving away a vehicle. Title transfer procedures vary between states, but most follow the same basic steps, including the following:
You should sign and fill out papers for the title. The buyer and seller need to make one of them the primary owner. You can do this by signing and putting your signature first on all forms and having your name first on the bill of sale. The transfer process should start with a notarized bill of sale, showing who bought or gave away the vehicle, and other information such as odometer reading and purchase price, VIN, and both the buyer and seller’s name.
Request and wait for the new title. The buyer is required to visit the local state agency responsible for issuing titles, such as DMV, for applying for a new title. Depending on state regulations, you can acquire the new title immediately or a minimum of 10 days upon completion. Sign the papers and get the new title through an email.
When Do You Require a Car Title Change?
When changing a car title, the first thing you must do is find out whether or not a title transfer is required. A few common scenarios where a car title transfer is needed are as follows:
- If you’re gifting the car to someone, the person must apply for a car title transfer in their name.
- When selling your car to someone else, they are required to have a car title transfer issued in their name.
- When Inheriting a car from a family member, the vehicle must have a car title transfer issued in the inheritor’s name.
- All these instances require that you go to your local DMV or complete the process online.
In some other cases, a car title transfer isn’t required:
- If you’re leasing a vehicle and want to switch to a new car, you don’t need to worry about changing the title.
- If you’re leasing out your vehicle for an extended period (beyond the standard contract length), this won’t require transferring ownership.
The process of changing a car title can be confusing. It’s essential to know the requirements and deadlines so that you don’t find yourself with fines or penalties for not following them appropriately. We have all the draft documents and legal guides for bill of sale, you may need during this process. You can accesss free bill of sale documents here for all states in USA.