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Just Purchased 1980 911SC Silver/Black---> Montana LLC Title Transfer Question
All,
I'm a long time RL'er and have had many 356/911 aircooled cars in past----> Have owned 997's past few years(2005 997S & 2007 997C4S) and missed the smell of burning oil so sold my 2007 997C4S last week and bought a 1980 silver/black 911SC yesterday Really nice example w/112K miles. Car I have had my eye on for 6 months and seller finally decided to let it go.
Car is located in Nashville Tn and owner has it regiistered to his LLC in Montana Cars being shipped to Seattle this Saturday. Owner sending Title to me when car gets picked up Saturday (I bought a 997S 4 years ago with same Montana LLC scenario and forgot just exactly was done to release Title.)
Anyone here familiar with what is needed/required to transfer a Montana LLC Title? I am attaching photos of front/back of title I also have copies of LLC owner(Sellers) LLC ownership documents.
Just curious if Title needs to be Notarized when seller signs? or when I sign?
My guess is you might need a letter from the LLC as a company authorization to sell the car.
As an example, my wife, here in Texas, had a car registered in her company name, of which she is the President. She signed the title, but the State of Texas required a letter of authorization on letterhead from her company stating language such as:
She is President, company incorporated in State of Texas, and she is authorized to sign on behalf of company name.
Call the state of which you are registering the car, Washington?, and ask them what they will require with the car titled in Montana as, "...., LLC."
:
Got answer from fellow RL'er over on OT Forum ---> has wife who is Notary and Attorney in Montana----> Sellers signature on the "Miles" section of Title has to be Notarized then I can Register Title in Wa. State
I believe people title in Montana as it has a one time registration fee and no need to pay a registration fee each year. Quite popular with people to setup and register in Montana with a LLC especially people living in California (see Montana plated cars all the time at C&C events). Not sure where fraud comes in to the picture? It is a legitimate "loop hole" so to speak. When you go to register the car, at least in CA, you pay use tax when registering and the DMV inspects the car at time of initial DMV registration. Not sure how your state would handle when you register.
I believe people title in Montana as it has a one time registration fee and no need to pay a registration fee each year. Quite popular with people to setup and register in Montana with a LLC especially people living in California (see Montana plated cars all the time at C&C events). Not sure where fraud comes in to the picture? It is a legitimate "loop hole" so to speak. When you go to register the car, at least in CA, you pay use tax when registering and the DMV inspects the car at time of initial DMV registration. Not sure how your state would handle when you register.
I believe people title in Montana as it has a one time registration fee and no need to pay a registration fee each year. Quite popular with people to setup and register in Montana with a LLC especially people living in California (see Montana plated cars all the time at C&C events). Not sure where fraud comes in to the picture? It is a legitimate "loop hole" so to speak. When you go to register the car, at least in CA, you pay use tax when registering and the DMV inspects the car at time of initial DMV registration. Not sure how your state would handle when you register.
the big benefit is to evade taxes in the person's home state
it is tax fraud because they are lying to their state about their residency, and the states are cracking down on it, usually with 2x to 4x fines - I've never seen any jail time for it
as long as the car gets to the buyer (OP) w/o mishap, I don't think any of this affects him
We on the conservative side of things like to use Montana to minimizing tax liabilities and increase our earnings.
Or, maximise our income by taking advantage of the tax laws passed by congress.
Your glass is clearly half full this morning.
No it's for sure fraud. Vehicles need to be registered in the state of residence, and each state has rules about what qualifies for residence. It was a common thing to see back in South Carolina when I lived there, as the registration fees in SC are rather high and annual, but SC state law specifically says vehicles residing in the state more than 45 days need to be registered there.
I don't think there will be any issues with buying a car previously titled and registered in Montana, but the act of mis-registering the car is fraud, regardless of political ideology.
Also that is some description of Liberals you have in your head. Might want to come on back to reality from "crazy uncle at Thanksgiving" training camp.
Are you licensing the car in WA state? If so they will get you for something when you transfer the title.
I've bought and sold 40 Porsches over the past 35 years - I'm well aware that I'll be paying sales tax on the purchase and licensing fees.
Washington State does have a special "Collector Car" program thru DMV - If car is more than 25 years old it qualifies for "Collector Status". No yearly licensing fees but you have to have the correct vintage license plate.
I'll be going this route---> I just need to find a 1980's Wa State license plate
My 1961 BMW motorcycle has a Wa State Collector plate and I pay no yearly tab fees and same thing with my 1963 Airstream.
05-07-2019, 01:29 PM
Just Purchased 1980 911SC Silver/Black---> Montana LLC Title Transfer Question
