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Author: MindsEye Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 71225  
Subject: Vehicle Transfer of ownership? Date: 2/6/2003 9:45 AM
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I hope that this is the correct board to ask this as I am not sure what other place to post this. Here goes.

My girlfriend and I our both considering buying new Hondas. Accord EX V6 for me and Pilot EX for her.

I pay cash for mine, she pays cash for hers. I am considering putting my vehicle in her name because it would save me money, thousands of dollars.

Things are great with us and we love each other very much. However, my question is if the possiblility that our relationship heads south for whatever reason how would you suggest I protect my investment in my new vehicle from such an occurance.

I am thinking of her signing in advance both a bill of sale and the Assignment portion of the back of the Title of ownership to me with the rest of the details to be left blank to be filled in by me if the need arises. Both documents to be held by me for safe keeping.

Will this transfer ownership of the Honda Accord to me whenever I want to? Do I need other forms? Should I do it a different way?

Thanks in advance for your reply.

MindsEye.

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Author: VeryAnnoyingDuck Big funky green star, 20000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23420 of 71225
Subject: Re: Vehicle Transfer of ownership? Date: 2/6/2003 9:51 AM
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I don't see why you just sign the application for title for the Accord for yourself and leave her out of it. That sounds simple enough unless I'm not understanding something.


But I'm curious:

I pay cash for mine, she pays cash for hers. I am considering putting my vehicle in her name because it would save me money, thousands of dollars.

If you don't mind my asking, how would you save money? Cash is cash. I hope you're not talking about insurance savings...


Duck!


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Author: SRHCB Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23421 of 71225
Subject: Re: Vehicle Transfer of ownership? Date: 2/6/2003 9:54 AM
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RE: "putting my vehicle in her name because it would save me money, thousands of dollars."

How? Fraudulent registrations could void your insurance coverage.

Otherwise, just have yourself named as a lienholder on the title so the vehicle cannot be transferred without your release. You would also have to be named as additional insured. If you went to transfer or sell under less than friendly circumstances though, the whole scheme would end up costing more than you "save".

Title and insurance laws vary from state to state so it would be best to check with an attorney.

SB (be careful)


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Author: eudaimon6 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23422 of 71225
Subject: Re: Vehicle Transfer of ownership? Date: 2/6/2003 9:56 AM
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I'm mildly curious as to how that would save you thousands of dollars.

anyway...

if she signs the title over to you and signs a release of interest/quitclaim and you retain possession of the title and the vehicle i would think you would be reasonably well protected. have her leave the date of sale and the mileage blank. some states charge penalties for not filing license/title work in a timely fashion. if the time ever comes when you need to change the title, then fill in those blanks.

hope this helps. congrats-both the cars you are considering are very nice.

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