To transfer ownership of a vehicle as a gift, fill out and sign the title information, visit a Department of Motor Vehicles office, and apply for a new vehicle title, according to CarsDirect.com. The office transfers ownership of the vehicle when the new owner pays registration fees and shows proof of insurance.Continue Reading
The process of transferring ownership of a vehicle as a gift is similar to the process of transferring the title of the vehicle, only that the Department of Motor Vehicles does not impose any sales tax for the transfer, explains CarsDirect.com. Before transferring the title, ensure the original title does not show secured interest or any liens. If the title shows a lien, contact your finance company to pay it off or to receive a lien termination letter.
The person giving away the vehicle must fill in the seller information section on the title, which includes an odometer statement and his license information, states CarsDirect.com. In addition to signing the title, some jurisdictions require the title to be notarized. The person receiving the vehicle must fill in the buyer information section and sign the document. Thereafter, both parties visit a DMV office together to complete the transfer of the title and register the vehicle anew. Upon registration of the vehicle, the new owner has legal ownership.Learn more about DMV & Records