There are many reasons why you can decide to give a vehicle as a gift. Maybe you want to give it to a member of your family, for example your child who has obtained a driver's license. Or because you want to buy a new vehicle and don't want to sell the old one. Be that as it may, this donation must be made on a regular basis to transfer the title of ownership. There are several steps to take and it can get complex; however, you can find all the information in this article. First you must make sure that you have full ownership of the vehicle: that is, there must be no mortgages on it. If the vehicle is jointly registered with another person, then you will need his written authorization (except in some cases such as death in which you will have to open an inheritance procedure). Once the property is transferred, the recipient will have to worry about the insurance and related taxes.
Steps
Step 1. Read your Certificate of Ownership (CDP) very carefully
Since you cannot give away a mortgage-backed vehicle, you need to be sure that you have full ownership rights.
Step 2. Transfer ownership
The person receiving the gift must sign the certificate, provide a valid identity document and fill in the "buyer" section of the deed of transfer of ownership.
Step 3. Make sure the person provides insurance
In many states it is the donor / seller 's duty to ensure that the recipient is insured and the transfer deed is not complete without an attached insurance certificate. If you are giving the vehicle to a family member or partner, make sure it is included in your policy.
Step 4. Send the documentation to the PRA (or the corresponding office in your country)
When all the documents are completed, signed and dated (in some cases before a notary) you can request the actual transfer of ownership and complete the file.
Advice
- In some states, it is possible to set a "symbolic" price to avoid paying donation taxes.
- If you do not have a copy of the certificate of ownership, you can contact the PRA office to obtain it (you will probably have to pay for the request).
- Some transactions must be subject to notarial control. If it is necessary in your country, you cannot sign and date any documents except in the presence of a notary.
- When you carry out the procedures for the transfer of ownership, the PRA representative will issue you a copy of the transaction pending the official certificate.
