If you are selling or buying a vehicle privately, an Authorized Third Party MVD office is a great place to conduct the transaction and get the necessary paperwork done at the same time! Meeting at a public location is an important safety precaution for any private transaction when you do not know the other party.
Here is what you need to know when selling or buying a vehicle:
When a vehicle is sold (or otherwise transferred) you, the seller, are required to:
- complete a sold notice
- sign off the back of the title and have your signature notarized
- remove the license plate from the vehicle and transfer it to another vehicle you own, return it to an MVD or an Authorized Third Party MVDoffice, or destroy it
- give the title to the buyer with any lien release, if applicable
- within 30 days transfer the plate credit to another vehicle that you own, or request a plate refund
Transfer of Ownership: Complete a Sold Notice
When you sell, trade-in, end your lease, donate, or otherwise transfer ownership of your vehicle, you must notify MVD by immediately completing a Sold Notice. This notice may help protect you from liability if the vehicle is:
- used for criminal activity
- involved in an accident
- abandoned ($500 fee)
Upon sale or transfer of a vehicle, the registration for that vehicle is no longer valid. The buyer must visit any MVD or Authorized Third Party MVD office to transfer the title and register the vehicle.
If it is necessary to drive the vehicle to complete this transaction, the buyer must obtain a Restricted Use Three-Day Permit, for private sales, or a Temporary Registration Plate, for vehicles purchased from a licensed dealer.
An Authorized Third Party MVD Office Makes It Easy!
Selling or buying a vehicle privately can be a smart move financially and by meeting at a Authorized Third Party MVD office, like FooteWork, it makes it easier and safer too!