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Question about transferring title to a car
Topic Started: Jul 29 2011, 10:07 AM (248 Views)
jon-nyc
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Cheers
So if I do end up taking this car, I'll go pick it up from him in Philly and drive it back to NY. Only after I get back to NY will I insure it, so I can't transfer title in person with him there.

How does transferring title work when he's in Philly and we're in NY?
In my defense, I was left unsupervised.
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Larry
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Mmmmmmm, pie!
If it works there the way it works here, he signs the title over to you, and you take it to the courthouse and give it to them. They will issue you tags, and send the title to the state to have a new title issued to you in your name.

Buy the insurance before you drive it.
Of the Pokatwat Tribe

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jon-nyc
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The first time my wife drives it back to NY, it'll still be insured by her parents. (she'll be borrowing it at that point, technically).

Once we insure it, then we'll transfer title.

However, that can't be until after we visit there and return, thus the transfer of title can't take place in person.

I just wanted to make sure he could transfer title to me without me being there, is all.


(forgive the n00b questions, I haven't had a car in 15 years)
In my defense, I was left unsupervised.
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Larry
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Mmmmmmm, pie!
Ah.

Forgot about it still being on their insurance. No, you don't have to be there. He just signs it on the back.
Of the Pokatwat Tribe

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Jolly
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Geaux Tigers!
Since the car is being given to you, you may need a letter of donation for the NY DMV.

I dodn't know what the tax structure is like in New York, but don't pay any fees or taxes you don't have to...
The main obstacle to a stable and just world order is the United States.- George Soros
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Lucky Lurker
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Junior Carp
It might be better to pay $1 for the car than to take it as a gift. Does your state assign a value to the car if it is a gift and tax you on that amount [like the blue book estimate]?
Lots of things get sold for one dollar just to make it legal and avoid higher taxes.
Sock puppet permit rejected.
Still a man hears what he wants to hear and disregards the rest.
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Jolly
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Geaux Tigers!
Many states will let family members donate without taxation.

Like I said, I don't know what New York's laws are concerning vehicle donations, so Jon is going to have to do a bit of research.
The main obstacle to a stable and just world order is the United States.- George Soros
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Mikhailoh
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If you want trouble, find yourself a redhead
I don't know either, but I'd make sure I had the insurance in my name before I drove the car home. It is difficult to know how liability might be determined after the title is signed over and you are a plum target.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Aqua Letifer
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ZOOOOOM!
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Jul 29 2011, 06:19 PM
Lots of things get sold for one dollar just to make it legal and avoid higher taxes.
Took me quite awhile to pay off my car, and to say my career path changed during the course of my loan is a serious understatement. Many months I wondered if I was going to make the payment.

Never missed one, though, and ironically I paid it off in full just about a month before I left home to go to Australia. My dad was looking to get rid of his older car (very similar to mine), and so we figured the most sensible thing would be for me to sign the car over to him, that way he could use it to trade it in.

Our DMV sucks. It's only open for 9 hours a week and that day it was snowing so bad they decided not to open at all. We had to drive over an hour into the next town over to get the paperwork taken care of.

The forms weren't that complicated since we both had the same state residency, and we were almost done after twenty minutes. But when it came time to formally sign the title over, the lady behind the counter said for me to make sure I get the check from my dad for the car before I signed it over for good.

"Well that's okay, he's not selling it or anything," my dad said.
"Wait a minute," I said, "we never really discussed this."
"What?"
"Well how much are you willing to give me for the car? It's a fine automobile, so naturally I'd have to request fair market value."
"*SIGH* Just sign the form."
"What guarantees do I have that I'll receive my due and proper payment? Do you have a good line of credit? How are your references?"
"JUST SIGN THE DAMN FORM SO WE CAN GET OUT OF HERE."

:lol:

I ended up selling the car to my dad for a dollar.



I have yet to ever see that dollar. I let him know that I'd be willing to float him what he owes me, at a generous rate of 100 per cent compound daily interest.


Anyways yeah, what Mik said. I'd be sure the insurance is set up before you leave the place. We adjusted both of ours over the phone while we were at the DMV.
I cite irreconcilable differences.
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