Drewster67

This is on the BACK of my registration - If CO. is Similar to AZ, you may find something of the sort -

Word for Word -

Within 10 days of the date of sale, you must complete the Sold Notice (Your old registration) form and mail to..(State MVD)...This notice is required by law, otherwise you may be liable for tickets, accidents, etc., that occur after the sale.

Hope this Helps.

Chucker

As TJ said do not report a car stolen if you sold it. I knew a guy that did this and got in big trouble. I do know in the State of Michigan there is a fee for not registering a car after you purchase with-in a certian amount of time. Unless the car has a salvage title..... Then there is no late fee. I think that the fee for late registration kicks in after 30 days but is not much. On my salvage I did not register the car for 4 years (had to be rebuilt).

reno928s

I woukd call up DMV or better yet go to DMV and ask tell them your problem. Reno

Boyce

My very astute and sexy law student girlfriend says that a properly endorsed (and notarized, if your state requires) title assigns all your rights and duties to the new titleholder-owner ("assignee"); therefore, you are not liable.

Your best option is to inform your local DMV and Sheriff's Department of the name, address, date of sale, and make of car. They'll take care it from there I assure you. You may want to double check that the DMV has a record of the date you turned in the tags, registration, etc. Keep in mind CarFax may be out of date.

Now on the advice of my future attorney.... "DISCLAIMER: This information is provided for entertainment purposes only and should not be construed as fact. Therefore, any resemblance to actual legal counsel is purely coincidental."

Mitch Johnson

When I bought my shark and went to the local DMV I discovered an interesting thing. In Georgia cars older than 15 years do not require a title. Sounds quite odd to me, but true.

Big Dave

For the record, I was kidding about the "report the car stolen" thing, although I personally might allude to that possibility if the buyer didn't comply with my request to give me proof that he bought the car.

As for the properly completed and notarized (where required) title evidencing the transfer, only the buyer has a copy of that (unless the seller is astute enough to make a copy).

Whether or not having your name remain on the title will make you liable for the future activity of the car is important, but there's another thing you should consider if you want to rely on anything else to prove you don't own the car: you don't want to have to hire a lawyer to appear for you and explain that you don't own the car any more.

I agree that you should contact your state's motor vehicle department and explain your concern.

Did you use any other sort of piece of paper to provide evidence that you sold the car? Did you make a copy of the check you received? Any proof that the car isn't borrowed from you? Cancelling your insurance might not be enough.

Ok....taking off the lawyer hat now.

Jfrahm

Thanks for the input. A few more points:

CO no longer uses a notary when title is transferred, just a signature from the seller on the title. Also I am unaware of any requirement to report the sale to the state.

The main (although small) concern I have is liability. If the car were to be involved in an accident, and let's say it was then abandoned, I would have to go to some trouble to prove I sold it way back when. All I have is a bill of sale, which is just a piece of paper with some writing on it, not a legal document really, especially if I have no ID (DL number from the purchaser for example.) the odds of this becoming a problem are small, but as I love cars and buy and sell 1-2 a year I might want to tighten up my process a bit to reduce the likelihood of a problem in the future.

I was suprised when I bought my 87 S4, the Minnesota title included a stub that the seller completes and mailes to the state to record the sale. Even if the buyer just junks the car or drives it without tags, the seller has a record of the sale filed at the state level. I thought this was a good thing for the state. Inconvienent though, if you are inclined to buy cars and resell them soon after (perhaps after doing some fixup work) as you cannot easily keep the title open, but rather must pay transfer taxes and retitle for each project. This is very common in CO, and in fact car dealers even do it to sell cars without ever having to have them on the books.

I think it was the MN title that triggered my curiosity about the transfer of my old 928S, I never really worried abouut it until I saw a system that was designed to deal with it. I suppose all I need to do is call or stop by the DMV, and I need to go there anyway to pay some registration fees (I moved and never got the mailed renewals.) They can bring up my cars on their computer and I can see what they think I still own. Might be interesting.

-Joel.

Gretch

In CO, do you pay an excise, or property tax on cars? That is the motivation that gets people who live in Taxachusetts to report to their local jusirdiction (city or town) that they sold a vehicle. Also, as previously mentioned, the plates belong to the person the car is registered to. They either get put on a replacement car, or turned into the registry. All this documentation, plus bill of sale/title represent the proper legal audit trail here, There has to be some of this that is applicable to you in CO. Yeah?

Tongue in cheek or no, It is a big no no for a member of the bar to suggest someone file a false police report....and the person who is dumb enough to do it will find the cops have absolutely no sense of humor.....

Big Dave

Gretch:

I figure you're referring to me. I didn't suggest actually filing anything. I suggested mentioning the possibility to buyer. Threatening to do so, or actually doing so, would be unlawful.

Greg86andahalf

Maybe carfax goofed.
I would contact the DMV or State Police and get their input. They can run the serial # and see who is currently listed as owner by title.

Greg

pete944

Hey Joel, don't worry. I'll be registering the S2 this weekend.

Paul D

I'm certainly no lawyer but it seems to me that you as the seller should have the buyer sign the back of the title and then you the seller should make a photo copy of it and keep it, along with the bill of sale, in a safe place. Without the title it would be up to the seller to prove he sold the car. With a photocopy of the transferred title you have 1 more piece of evidence in your favor.

Drewster67

Better Yet - Whenever I sell a vehicle or buy a vehicle - I ask the owner/seller to go w/me to the MVD and do the title/registration transfer.

That way - there are no if's, and's or but's. Everyone is happy and your good to go.