The procedure for listing two buyers on a single titleOctober 28, 2014 0
Two owners or buyers for a car is quite common. Many a times spouse, parents and children or might be two friends want to share the title so that both of them have the right to repair and sell the car. Although the general procedure is same everywhere but the official rules and regulation is different from state to state. Given below is the procedure that will help you out in getting the title listed for two buyers.
1. You can transfer the title of the car which is an officially valid solution of giving the ownership of the car to some other person. You can also do that by handling over to title to the other person. In this way you people can share the title.
2. You can create a bill of sales that document similar to the one what you get with the exchange of car and prices. It’s advisable to keep that safely so that in case there is any untrustworthy or unexpected thing is happening, the purchase agreement can be taken into action. List the name of both the parties and make them sign the document of the purchasing agreement.
3. Fill any certificate of title that is required by the law of your state. As in a lot of cases, the paperwork will be issued by the DMV itself.
4. In your nearby DMV get the title registered in the presence of both the owners. Then both the parties need to present their ID and make signature on the back of the printed new title. Although some DMVs are lenient and will just cross check the names but sometimes they might take it as the sign of forgery. So be very careful before writing and crossing out through anything.
5. If you are having the fear of future disputes, then it will be better to have an additional document having signature of both the parties and the amount being paid is mentioned clearly. You must keep all these form especially the bill of sale carefully for future reference.
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