Help sold my car and not sure if safe?
Sold my 1997 Honda to a man today for $$$. Problem is I just read on Virginias dmv site that I have to do a title transfer? Not sure if this is necessary or not. I got the bill of sale and made him sign the title. I have his address and number. I got my tags also. I have informed DMV of sale and insurance. Am I responsible if he never registers vehicle if he gets in accident?
According to the law, you are required to fill out all paperwork per your State dmv laws, and if the dmv site states you need to do a title transfer, then do one… And YES - if the new owner does not register the vehicle, you will be considered as the owner still of it… Do all you need to do with the dmv to ensure that the vehicle has no ties to you at all
http://www.dmv.state.va.us/vehicles/#selling.html
There's what you need to do. You are good to go.
He transfers the title into his name. Save your bill of sale.
You must properly fill out the sellers portion of the title and then give that title to your buyer. A quick check of the Va. DMV site revealed this:
"4. Notify DMV that you have sold, traded or donated the vehicle.
You must notify DMV that you have sold, traded or donated your vehicle. This may be accomplished by going online, visiting a customer service center or contacting us by phone."
Read poster Entidtil answer. The key is that you must notify the DMV of the sale, so, they know you no longer own it and have no liability. So, even if this person never titles or transfers it, DMV is aware you no longer own it, so not on the hook.
As long as you kept your tags and reported the transfer of ownership to the DMV, you are in compliance with the law.
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