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Re: selling
Laws vary from state to state, but I think it's ALWAYS a good practice to execute a Bill of Sale, signed by both parties and witnessed (preferably notorized). This gives the seller an opportunity to spell out clearly all details of the transaction in case there are future issues...... "sold as is" for instance is a good protector against some future claim of a warranty or some representation of condition. Another good reason is to make it clear that possession and title have changed hands in case there's an accident involving the vehicle before it's properly registered by the new owner.
When I sell one (although very rarely) I keep a copy of both sides of the title, and a copy of the bill of sale that's been signed by the buyer, as well as a copy of whatever way it was paid for. -
Re: selling
Years ago, that was true in Texas. Now, there are other documents that have to be signed by the seller. I can't remember which documents...I think they have to do with the selling price and how much sales tax the buyer is going to pay, and/or disclosure affadavit for actual mileage on the vehicle.
In any event, both the seller and buyer are better off if the seller collects the money, gives the buyer the keys, then accompanies him down to an authorized titling company that will handle the paperwork and the tax collection. Call me eccentric, but I prefer $100 bills over checks for payment! Once the title application is made, you, as the previous owner, are free and clear of any future liability.
Back in my youth, signing a car over by signing the title was all that was required in Texas. I sold a car by signing over the title for the cash, and the guy never had the title transferred. Several months later, the DPS came to my door looking for the owner after he abandoned the car beside the road (it was a "throwaway" car). It didn't take long to get it straightened out with law enforcement, but it was tricky for a bit.Comment
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Re: selling
Contact your local county court clerk. They will spell out the requirements in your location.Comment
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