In case there is a lien listed on your title, it must be signed off on the title or you must provide a separate lien release document.
Sometimes, a vehicle is owned jointly by two people, such as spouses. The situation gets complicated, but you can always call your lender and ask how to sell a car that has a loan and how the transaction should be handled. But if there is a bank’s name or lender’s name on the title, which is referred to as a lienholder, it means you still have an auto loan to settle before selling the vehicle. In case it is your name alone printed on the title, it means you are the sole owner, and can easily transfer ownership. If you are the seller, you need to check at how your name is listed on the title of the car. This section should never, under any circumstances, be left completely blank as this can lead to abuses and liability for you. Most states require that all owners listed on the title must print and sign their name when transferring ownership.įields that ask for information about a buyer/purchaser/transferee are asking for details about the person you are selling or donating the vehicle to. When the title asks for the seller’s name you would either print or sign your name exactly as it appears on the title where you are listed as the owner. Any fields in the “Assignment of Title by Owner” or similar section that need details about the seller/owner/transferer, mean they are asking your information. There are few areas of the title dedicated to dealer reassignments which should be left blank. You have to complete the section of the title that says “Assignment of Title by Owner” or “Transfer of Ownership”. If you can’t locate or have misplaced the certificate of title, you have to get a duplicate one. Please bear in mind that you must present the title while donating a vehicle to charity, and some states might require a notarized signature to complete the transfer. Prior to signing the title, check properly with your state’s DMV to know exactly where to sign and how to pen down the correct details. The seller might need to provide basic information about the car, like sales price and current odometer reading, in some states. When private parties buy or sell cars, it is up to them to transfer the title. When you buy a new car, a dealer handles the paperwork and you usually receive the vehicle title from your state’s DMV in the mail. Few states might require more documents to complete the process, such as a bill of sale or transfer of ownership form. The latter has to release ownership of the car by signing the title, after which the former then takes that signed title to the DMV, and is issued a new registration and title. There are a couple of steps involved when you transfer a car title – one for the buyer and the other for the seller. The title is issued by your state’s department of motor vehicles, and includes information like vehicle identification number (VIN), the mileage at the time of sale and what type of car it is.
If you don’t possess the title of your vehicle, you will have to face several issues during the sale. It comes in handy when you sell off the car, as the title must be legally transferred to the new owner, so they can complete the registration process. Our guide below walks you through the process step-by-step and even provides links to state resources if you need to request a duplicate.Ī car title is an extremely important document that is proof of ownership. Step by Step Guide to Transfer your Car TitleĪre you buying or selling a car and wondering how to transfer a title?