A vehicle title is something that shows the name of an actual owner of the vehicle. It is a document that requires a change in credentials as soon you buy or sell a car because the vehicle documents must hold the name of the person who owns the vehicle. During the car buyer or sell deal, both the parties have to settle a vehicle title transfer with the DMV. There are certain situations when you need to undergo a vehicle transfer settlement. Let us have a look at the undermentioned facts that will clarify that how long does it take to transfer a car into your name?
Situations where Ownership Transfer is required
- Selling or buying a car
- Turning ownership to family members
- Paying off a debt
- Transferring a vehicle willingly to someone
- Changes or corrections needed for the owner’s name
Selling / Buying a Vehicle
If you are involved in selling or buying a car, you need a vehicle bill of sale which usually carries all the terms and conditions under which a sale or purchase is supposed to be made. This document represents the transfer of ownership rights from one person to another. We can say that this document is the real proof of actual ownership and it is required in every sale or purchase of vehicle you make.
If you are the buyer of the vehicle and want to transfer the ownership of the car to your name after the complete settlement of payments, you have to make an appointment with your state’s DMV and should apply for a vehicle title in your name.
When Does The Title Get To Change?
As soon as total payments or loan against the vehicle is cleared, the name of lienholder gets removed from the original documents. Now, this is the time when you need to transfer the ownership to your name. At the very moment when the lien release is signed and submitted to the DMV’s office, you should file a title transfer application as well. A minor transfer fee is provided by this time and the only time left in transferring the vehicle ownership title to your name will the time incurred in usual documentation and submission process.
The Process Of Transferring Ownership Title To Family Member
There are certain cases when you gift a vehicle to your family members; the new owner does not have to pay sales tax on the car. Further proceedings will be the same that the recipient of the vehicle should have to visit the DMV office to submit an ownership transfer application. Now the answer to the query that how long it will take to transfer title to my name is the same as previous that the same time that was incurred in the usual paperwork as before.
Time Incurred in Vehicle’s Title Transfer
Though the standard procedure for transferring the car title from the buyer to seller is the same as both have to sign an agreement, pay off the dues and visit the DMV office to submit an ownership transfer application but the time incurred may vary from state to state. It may take as maximum as ten days, or it may be done before that. In case if you have applied for title transfer via mail, the further proceedings may take more time.
The actual procedure is to deliver the ownership to the buyer just at the time of delivery of the vehicle, but it is not possible, it may take from 2 to 10 days.
Apply an Easy Approach
Forget all your worries and just get connected to Wrecky in Melbourne, who will take care of all these paperwork formalities required during car sale and buying process. We are the trusted car dealer since decades and know how to get all necessary paperwork done most professionally. Contact our helpline for further assistance.