Vehicle title transfer
My husband and I are in the process of moving back to the states from St. Croix. We have a tentative buyer for our vehicle and I just want to be sure to handle the sell correctly. I have searched and read previous logs but I know things change and just want to handle this correctly. We have a clear title and registration. Do we meet the buyer at a Notary office and after we sign and date both and they sign and date both and are notarized is the sell complete. I know and they know they have to provide proof of insuring the vehicle. Then they are responsible for taking the vehicle to the DMV to change the title and registration. Is that correct? Any advise would be greatly appreciated.
We did this last week...we met the person at a notary...the seller and I both signed the registration and had that notarized, the seller signed the title. I then went to the DMV and paid $66 and had the car inspected, got new tags new registration and new title.
Sounds right to me....have a Notary witness the sigs and take the cash! The rest is up to the buyer....as I understand it...anyone else have any input on this one?
If they don't go to PS and re-register, it's still in your name. As I understand the VI law, it doesn't matter that you signed the title. Some sellers go to PS with the buyer to make sure its done. I've even heard of sellers returning some of the money (planned) to the buyer when they bring back a copy of their new registration...
FYI- Went through this twice, if you plan to cancel your insurance, you must have a copy of the new owners registration to present them, so go with them to the DMV. Otherwise the car may stay if your name??
Don't forget to go to Lt Govenors office and have lien search done!!
You really need to make the trip to the DMV. If you leave it up to the buyer who knows when it will get done and until it does you are still liable for tickets, etc. I couldn't cancel my auto insurance until I had a copy of the buyer's title.
To speed the process, can the buyer get the insurance before the actual exchange of title/money? If so, what would they need to take with them to the insurance company?
We went with the buyer to Marshall & Sterling, got the insurance and the title notarized and then we went with the buyer to the DMV to get the car inspected and the title transferred.