The car title provides proof that you and on one else owns the vehicle. Just as you can only donate or sell vehicles that you own, you must demonstrate proof of ownership by showing the title, then signing it over to your relative. If you just give a relative your car without signing over the title, he doesn't own it. You do.
Significance
The car title proves that you own your car and are the responsible party for tickets or citations that vehicle incurs. When you donate your car to a spouse or other family member, you are no longer the legal owner of the car, your recipient is. To release yourself from liability for that car, and rightfully assign ownership of the car to the relative, you must transfer the title.
Replacing a Title
You can obtain a replacement car title if you've lost the original. States may assess fees for this service -- as of 2011, Alabama charges $15 to replace a title -- so be prepared to pay. Contact your state's Department of Motor Vehicles or similar agency about getting a replacement car title.
Title Transfer
To give your car to your relative, you must properly complete the title. Enter the vehicle's mileage at time of donation. Then writer your family member's name on the "Buyer" or "Purchaser" line and your own name on the "Seller" line. Once both of you sign on the appropriate lines, transfer of the vehicle is complete and you are no longer liable for the car, financially.
Considerations
Some states may have exceptions for old vehicles. For example, Connecticut allows you to transfer cars made before 1981 to family members without having a title. Additionally, you may need to complete other paperwork to finish donating the car. The state of California requires you to pay a transfer fee and complete a Statement of Facts for smog exemption and use tax. Your relative will also need car insurance before she can register the vehicle in her name.
0 comments:
Post a Comment