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The following factors are frequently applied to determine the family member who has ownership of a vehicle: (1) the identity of the person who paid for the vehicle, (2) the identity of the person who had the right to control the vehicle's use, (3) the intent of the parties who bought and sold the vehicle, (4) the intent of the family members as ...
In addition to the vehicle title, lenders often also require the borrower to provide a set of keys for the car and/or purchase a roadside service plan. Car title loans frequently involve high interest rates, a short time to repay the loan (often 30 days), and a loan amount less than the car's monetary worth. The borrower also risks losing the ...
The certification of ownership of automotive vehicles is handled by each state's DMV normally by issuing a vehicle title. The types of vehicles certified by a DMV varies by state. While almost all DMVs title vehicles that are driven on roadways, the responsibility to title boats, mobile homes, and off-road vehicles can be the responsibility of ...
California's Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain technology in a bid to detect fraud and smoothen the title transfer process, the agency's ...
A quitclaim deed may also be used to transfer title of a property to a purchaser following a foreclosure auction. Typically such a deed will not warrant that the property title is free and clear, and it remains up to the grantee to check that the property is not subject to any legal encumbrances. [11]
FLPs have several benefits. They allow family members with aligned interests to pool resources, thus lowering legal, accounting, and investing costs. They allow one family member, typically the GP, to move assets to other family members (often children who are LPs), while still retaining control over the assets.
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