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As it happens when you are a buyer, selling a used car is a process that requires a lot of care and dedication to bring it to fruition . As a seller, you have the task of starting the process with an extremely important step: make the notice of transfer or release of responsibility before the corresponding Department of Motor Vehicles (DMV), in other words, deregister the vehicle . This procedure must be carried out in the first days after the sale, making sure that the buyer gives continuity to make it effective, otherwise, you will not only continue to be associated with the vehicle you sold, but, before the authorities, you will have responsibility for him and for the infractions or crimes committed with him.
The transfer notice is as necessary for the seller as for the buyer because it assigns the responsibility of the car to who should have it and facilitates the buyer the processes of renewal of permits, registrations and other paperwork with the DMV in the future. In addition, it builds confidence around the sale of the car and supports the seller’s credentials, especially if the process is being carried out directly, without intermediaries.
Making the title transfer notice is usually an extremely simple process that only requires calling or directing you to a DMV office to request the corresponding form and collect the necessary documents:
1. Registration number of the vehicle being sold.
2. Vehicle description: make, model, color and year.
3. Vehicle Identification Number (VIN).
4. Date of sale or transfer of title.
5. Mileage at the time of transfer.
6. Name and contact information of the new owner.
7. Name and contact information of the seller.
Once the request is made and the buyer completes the process, you will be exempt from everything that happens to the vehicle from now on , from speeding tickets or damage to private property to injuries caused to other people in accidents where the vehicle is involved, situations in which you could be successful, but whose solution would take time and money.
According to Autofact, when this process is not carried out, it is likely that you will also be affected fiscally in the future . Applying for credits, scholarships or aid, when there is an asset that still remains under your name without you being the beneficiary, could prevent you from being eligible for any of these benefits.
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