Your changes will require approval by an administrator before they are published.
The article has been updated successfully but requires approval before it is published.Last Updated 29th of January, 2010
How do I handle a title transfer with a gift of car?
|
Enter your Zip Code below to get a Free Quote. We suggest getting quotes from multiple companies to ensure you get the best rate. There is no obligation to purchase. 
|
Requirements for gift of car vary with each state. The process is very similar to a regular title transfer, but with slight variations. Some states require writing the word "GIFT" as the price on the title or on a bill of sale. Others mandate submitting specific forms. Texas, for example, requires, in addition to all other requirements, completing an Affidavit of Motor Vehicle Gift Transfer.
Besides the obvious reasons for transferring the car's title, following the gift of car requirements financially benefits the new owner. Confirming that the vehicle was a gift and no money was exchanged shields the new owner from sales tax fees.
You can find gift title transfer information on your state's DMV Web site, detailing required signatures, forms and fees.
Besides the obvious reasons for transferring the car's title, following the gift of car requirements financially benefits the new owner. Confirming that the vehicle was a gift and no money was exchanged shields the new owner from sales tax fees.
You can find gift title transfer information on your state's DMV Web site, detailing required signatures, forms and fees.
Post Comment for "How do I handle a title transfer with a gift of car?"
To post a comment for this article, simply complete the form below. Fields marked with an asterisk are required.
User Opinions
66%
33%
(3 votes)
33%
(3 votes)
Visitor Comments