Getting a car is an exciting process but in the enthusiasm of owning one you cannot afford to overlook the necessary paperwork that gives you proof of your vehicle ownership. DMV (Department of Motor Vehicle) has its own rules for vehicle title transfer for every state. So if you are a resident of New Jersey make sure you are aware of New Jersey vehicle title transfer rules. The transfer fees also vary from state to state. You can check any local DMV office for details regarding it.
If you are getting a car from a dealership, then they handle the vehicle transfer process. Vehicle title transfer not only applies when getting a new or used car but also in other situations. It includes all conditions whenever an ownership of car is transferred as it has to be made legally authentic such as in the case of a gift, inheritance, donation, or death. Plus, if the car has been taken on loan then until the loan is paid you cannot have it in your own name. When the loan is paid you need to have the car transferred to your name to declare your official ownership.
New Jersey rules require that the process of title transfer needs to be completed in 10 days from the date of sale. If there is delay a fine can be charged that is a sum of $25. For vehicle title transfer the seller has to sign the backside of the title. The title would have the buyer’s name and address along with the date the sale is made. Along with it the odometer reading and the sale price needs to be given.
It is a crucial step and the sooner you take care of it, the better it is. For seller it is best to have it done quickly so that the responsibility of the car is no longer on you. You are no not liable for any unfortunate damages any more. For buyer also it is necessary to have the legal documents in hands so that the vehicle possession cannot be questioned.
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Q:Where can I get a New Jersey vehicle title form?
A:A vehicle title form can be obtained from any DMV office. This form in necessary to fill out when buying or selling a car. The seller and the buyer of the vehicle both have to sign this form. This firm basically shows the transfer of ownership. If you want to find out more about title transfers and the exact procedure, take a look at our page.