A car title is basically a document that proves who owns a vehicle. When you sell your car, the title must be transferred to the new owner so that person can complete the registration process. In this situation, a title transfer form is required as a legal binding between the seller and the buyer.
Let’s begin with a clarification. The car’s title is often referred the “pink slip,” although the color isn’t always pink anymore. Regardless of its color, the title is issued by state’s department of motor vehicles. Other than indicating who owns the car, the title also works as the vehicle identification number, the mileage at the time of sale, and indicates what type of car it is.
How Car Title Transfer Form Works
Transferring a car title consists of two steps, one for the seller and one for the buyer. First, the seller has to release his/her ownership of the car by signing the title transfer form. The buyer then takes the title to the DMV, and the state will issue a new registration and title. Some states may need additional documents to complete this process, such as a bill of sale or a transfer of ownership form.
When you’re buying a new car, commonly, a dealer handles the documents and you usually receive the vehicle title from your state’s DMV in the mail shortly after. But when private parties are the one making an exchange, it’s up to them to make a transfer.
States may require the seller to provide information about the car, such as the sale price and the current odometer. Before signing the title, it is advised to check with state’s DMV to properly supply the correct information.
Certificate of Title and Transfer Registration Form
House Title Transfer Form
Land Title Transfer Form
Title Feed Transfer Form
Title Transfer Application Form
Vehicle Title Transfer Form
Whose Name Is Listed?
For the seller, the first step is to look at how your name is listed on the car’s title. If your name alone is printed on the title, this means you are the only owner.If you have a loan on your car, your lender’s name will also be on the title.
However, if there’s also a bank or lender’s name on the title,often called “lienholder”, this means you have an auto loan that has to be settled before you can sell. Call your lender and ask how to sell your car and how the transaction would be handled.
It is better to Visit your state’s DMV website before you sell your car. The website will provide you with information regardingwhat documents are required, where to sign the title and how to handle multiple owners.
The Contact of your state DMV should be available online. Try to surf a link to the agency that handles driving records where you live.
If you mistakenly, sign the title on the wrong line, it can cause delays in the sale.If you make a mistake, such as signing on the wrong line, or if you try to erase something from the title, it will slow the process. Either you’ll need to file a second form, stating you made a mistake, or you might have to apply for a new title from the DMV before the sale can be concluded.
After the title is signed by the seller, the buyer should register the car in the new owner’s name. In some states, the application form for a new title is provided on the back of the old title. In some others, you might have to download a transfer form from your state’s DMV website.
Commonly, a temporary registration will be immediately issued as soon as the title transfer form have been presented to the DMV. A new title, complete with the new owner’s name, will be mailed later.