How to get a title for a car that does not have a title?
To get a bonded title for a vehicle that doesn’t have a title, you have to buy a surety bond. A surety bond is a promise from you, the buyer, to be liable for the debt of the vehicle. The average cost of a surety bond is usually around $100.
Can a new owner buy a car that is still in Your Name?
Unless they have the title showing they own it, they can’t get the car. If the car is still in your name and you have no bill of sale, looks like you still own it and can go to tags and title to see if you can get a replacement.
What happens if the buyer does not sign the title?
If the buyer does not sign the title and mail or give it to DVS, then the seller’s name stays on the title of the car. If the buyer doesn’t transfer the title within 10 days, the car’s registration is suspended. What should I do if I sold a car but didn’t report the sale? You should report the sale to DVS immediately.
When did I Sell my Car but never transferred the title?
Discussion in ‘ Other Legal Issues ‘ started by mikefrmi, Sep 2, 2005 . Not open for further replies. I sold my car to someone about 4 -5 years ago but the new owner never transferred the title. The engine was shot and he was going to see if he could get it going.
To get a bonded title for a vehicle that doesn’t have a title, you have to buy a surety bond. A surety bond is a promise from you, the buyer, to be liable for the debt of the vehicle. The average cost of a surety bond is usually around $100.
Where does the title go when buying a car in Georgia?
When you purchase a vehicle from a car dealer in Georgia, the dealer is required by law to handle the title transfer process and submit the application for a new title in your name. If you financed the car, the title goes to the lien holder (the bank or financing company), who retains it until you pay off the loan.
Is it legal for a car dealer to hold the title?
While the law is clear, he said complex financing systems tempt dealers and lenders into taking shortcuts. If the dealer has borrowed the money to purchase the car, the lender may hold the title. Until the lender is paid, it often will not release the title. As a result, the buyer is told he may have to wait a week or more to receive the title.
How do you get a bonded title for a car?
To get a bonded title, the buyer must prove ownership by presenting a bill of sale and submit documentation required by the state to a surety bond company, which will issue a title bond. The owner can then take the proof of the bond to the DMV and receive a bonded title.