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When a car is sold from one owner to another, the title must be transferred to the new owner. This is achieved by requesting approval by the state DMV. When the vehicle title is lost, the owner on record may replace the lost title by completing an application with the state that issued the current title.
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 ...
In-state vehicle sales are recorded at the back of the title as long as there are unused reassignment boxes. If a vehicle is sold out-of-state, the new owner must apply for a new title at their local DMV office. [14] In Spain a second-hand vehicle ownership transfer is done at the DGT office or Tráfico as it's known locally. Transfer tax must ...
In exchange for insurance premiums, the title insurance company conducts a title search through public records and provides assurance of good title, reimbursing the insured if a dispute over the title arises. [13] In the case of vehicle ownership, a simple vehicle title document may be issued by a governmental agency.
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]
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