Importance of transfering sold autos & trailers

[Whitestar]

Do you know in some states if you sell a trailer or auto without making sure the new owners transfer it out of your name, you can be held responsible for tickets, or accidents as the "owner of record" on the car or trailer, even years later? It is very important that you make sure that the trailer or auto is legally transfered into the buyers name. If you are not able to go to the courthouse or wherever your state requires to transfer in person, then you can get a change of ownership form to send in notifying the licensing bureau that you have sold the auto & who to. I found this out when a car I sold was in an accident two years later. It was a MESS! I had to go through all my records to find my sales receipt to prove I had sold it from 2 years prior. I was so glad I found it or I could have been in a huge legal mess & out tens of thousands of dollars in liablity! Check with your states license bureau to find our your local laws. But in Texas, it is very important that you take care of this!

 

[Minimor]

Not a problem here--when you sell a vehicle both parties sign the bill of sale and each party keeps a copy of that bill of sale. The seller cancels his insurance & registration (or puts it onto a new replacement vehicle) and signs the transfer of ownership on the back of the registration certificate and hands it over to the buyer. In order to obtain insurance on the vehicle the new owner has to turn all that paperwork over to the insurance agent--it is illegal to drive without insurance and registration, so if the new owner wants to drive the vehicle he will have to get that vehicle put into his name. If some idiot decided to drive the vehicle without registering it, if he were in an accident the police would soon discover that the former owner had cancelled the insurance on that vehicle--it's wise, of course, to keep the bill of sale for vehicles sold (or purchased)--so if such a thing did happen you'd have proof in the form of a signature that someone had bought the vehicle. Checking to make sure that a vehicle is transferred out of the seller's name isn't something that's necessary here--thank goodness.

 

[Hosscrazy]

I did know that - sorry you had to learn the hard way - sounds like a nightmare! Glad you were able to locate the old paperwork and clear it up - good advice for all!

Liz R.

 

[REO]

Holy cow! I didn't know that. Thanks for the warning! I'm glad you found the bill of sale! WHEW!

 

[Annabellarose]

Excellent advice!

I sold a vehicle a couple of months ago and the buyer did not understand why I was adamant that we make a trip to the court house before I would give them the keys. LIABILITY, that's why! <<<I want none, thank you!

 

[Sue_C.]

Minimore...there is also a piece of the certificate that the seller MUST return to the Dept of Motor Vehicles. If you do not return that portion, cancelling your insurance or having the bill of sale might not help. That little piece of paper is what really tells them that thre has been a transfer of ownership.

 

[Minimor]

Here it's the entire TOD (transfer of ownership document) which is printed on the backside of our registration form--I sign that (just did it last night on an old truck that I sold) & hand it over, and then that TOD/registration form is turned over to the insurance agent when they register the vehicle in their name....and that TOD along with the bill of sale gets faxed to Autopac--registration and basic insurance are all done through Manitoba Public Insurance (Autopac) so when the vehicle is insured by the new owner, our provincial body automatically receives the info. While there may be the odd person who would buy a vehicle & never license it, that would be very very rare here--huge fines are issued for driving an unregistered vehicle.

Certainly no one here ever accompanies the buyer to any driver/vehicle licensing agent to make sure the TOD gets turned in. That would actually be impossible, given the number of vehicles that are sold without a current safety certificate--in Manitoba when you register a new (new-to-you) vehicle you must present a valid safety certificate. If you buy a vehicle without the safety you must take it to an inspection centre and get a form showing that it either passes or fails--if it fails you have a certain number of days to fix the problems & take it back to confirm that the repairs have been completed. Only after the vehicle passes and you get your "safety" can you register that vehicle--until then driver & vehicle licensing would not accept the TOD.

 

[Katiean]

Here in Nevada you are supposed to take your plates off of the Car, Truck or trailer when you sell it. You also give the tital with the vehicle. However, When the guy I got my trailer from had just registered it and he told me to wait until the next year to register it. He gave me the title when he gave me the trailer. Oh yeh, That was a real BIG "GAVE (no charge) ME THE TRAILER". It is a nice one too.