OK my husband and i bought a truck from his sister how do we change the registration (title) to his name without paying $250 for the change. My sister in law said to say it was a gift but how would that work, should i say would it work? Please help...thanks in advance.Car Title!!!?
DONT, i repeat DONT say ANYTHING about it being a gift. write up a bill of sale, (by hand or typed) with all your sigs on it saying you bought it for @ least $300 cash money. you will be taxed if you claim it as a gift. as far as title transfer you can call your bank first, but will prolly have to go to currency exchange and pay for it. then just send it out and wait for it to come back. Anyone who tells you to claim it as a gift is either (a) inexperienced, (b) a MORON, or (c) not really trying to help you.Car Title!!!?
WHEN YA GO TO THE TAG AGENCY TELL EM IT WAS A GIFT AND POOF THE FEE ID IS LESSEND TO A MORE LEVEL OF PAYMENTCar Title!!!?
She has to go with you to the Title place, and declare the sale value as $1.Car Title!!!?
taxes are based on how much you paid for it, so if it was a gift the taxes will be lower. It's kind of like a sales tax you pay less tax on a mcdonalds burger than you do on a computer right? But you still need to have a bill of sale or something on paper saying it was a gift. You'll still have to pay some tax but not as much. If your sister has been late on registration, you may have to pay those fees too.Car Title!!!?
The bill of sale that she wrote you should state that you paid a minimal amount for the vehicle. If it was a gift, the amount that you pay will still be considerably higher than if the bill of sale states that you paid $100.00.Car Title!!!?
if they base the fee on how much you paid for it, tell the bmv that you paid $50 for it. i'm not sure how it would work saying it was a gift, because they will figure the value on it some way, if that's the way they figure the fee. i'd call the bmv and ask, or look on their website for the state you are in.Car Title!!!?
ON THE BACK OF THE TITLE IT SHOULD ASK THE PURCHASE PRICE OF THE VIHICLE AND PUT 0 DOLLAR AMOUNT
