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Title deeds vary by design but always include vehicle-specific information at the front of the document (such as: year, make, model, VIN, color, etc.) and several boxes for transaction information at the back where information about change of ownership is recorded (such as sale date, odometer reading, seller and buyer names and signatures, etc ...
A vehicle registration certificate is an official document providing proof of registration of a vehicle. It is used primarily by governments as a means of ensuring that all road vehicles are on the national vehicle register, but is also used as a form of law enforcement and to facilitate change of ownership when buying and selling a vehicle.
Technical information about the vehicle to define its taxation regime, e.g., its gross vehicle weight, motive power, and purchase price when new. The name and address of the purchaser or "registered owner" who would normally possess and use it. If money is owed on the vehicle, the name of the lienholder or "legal owner" to whom this money is owed.
Car insurance is a commonly overlooked expense when it comes to vehicle ownership. The national average cost of car insurance is $2,542 per year for full coverage and $740 per year for minimum ...
Ownership of a vehicle is evidenced by a certificate of title issued by the DMV. [10] The certificate is known as a "pink slip" after the color of the piece of paper that was issued to owners, until a 1988 change in the document. [10]
The types of vehicles certified by a DMV varies by state. While almost all DMVs title vehicles that are driven on roadways, the responsibility to title boats, mobile homes, and off-road vehicles can be the responsibility of other agencies such as a Department of Natural Resources (DNR).
A roadworthy vehicle is considered to be roadworthy until it changes hands. A vehicle purchaser is required to register the change-of-ownership of a vehicle. The new owner must present a Roadworthy Certificate (CoR) in order to receive a new license (disk) for the vehicle. A new license plate number is also issued at that time.
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