Saturday, October 31, 2009

Transferring a title to new owner?

I just recently sold my car to a private seller, and just recieved the title from my bank after paying off the loan. Although i had requested the title be issues SOLELY in my name, it arrived in my name, along with my step-moms name. (She was also on my loan when we purchased.)



Do both of us need to sign the title over to the new owner, or would I be able to alone? (we live in different states)



Transferring a title to new owner?

It will depend on how the title was shown. If it says Joan Smith OR John Smith then either of you can sign alone.



If it says Joan AND John then you both have to sign.



In the latter case simply send it to your step mom by priority mail , as her to sign and include an envelope for her to return it.



If your buyer has the car and a bill of sale he should be satisfied once you explain what is happening. Make sure that YOU have a receipt from him in case he has an accident before the paperwork goes thru.



When the signed document is returned to you by your step mom THEN you sign it and hand it to the buyer or fill it out and mail it in (whatever YOUR state law requires).



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Transferring a title to new owner?

If there are multiple names on a title, each one is part owner and each



have to sign (in my state anyway). Double check at you local Department of Motor Vehicles.



Do a web search for %26quot;(your state) DMV%26quot;



It might be simpler to go to the DMV and ask.



Transferring a title to new owner?

YOU BOTH HAVE TO SIGN YOUR Title........



Also Make sure you Both don%26#039;t have to sign a Tax Statement, Mileage statement, or value statement... FOR the seller to get his new title.



Each State is different...



This way you won%26#039;t have to do it again when he brings it back to you.



You might also have Buyer sign a%26quot; Bill Of Sale%26quot; statement with the words AS IS, WHERE IS, NO Implied or Expressed Warranty



So he can NOT come back on you OR your Step-Mother if ANYTHING comes up... Protect Her and yourself since she helped you get the loan...



Congratt%26#039;s



Transferring a title to new owner?

If the title lists you both and your names are separated by the word %26quot;OR%26quot; either of you can sign. If your names are listed any other way, both signatures are required.



Transferring a title to new owner?

Your step mom has to sign, then you have to sign.

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