Virginia Assignment Of Title By Owner - Virginia Notice of Assignment to Living Trust
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How to fill out Virginia Assignment Of Title By Owner?
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FAQ
Virginia does not require a bill of sale to transfer ownership of a vehicle unless the purchase price cannot be listed on the original title. Purchase price documentation is an important step in documenting ownership transfer.
To gift someone a car in Virginia, you need to bring the title, a bill of sale or Vehicle Price Certification, and Purchasers Statement of Tax Exemption to your local DMV office, along with applicable fees.
In order to successfully complete a vehicle title transfer, you need to appear in person at your local VA DMV office with:The Application for Certificate of Title and Registration (Form VSA 17A)Proof of your current Virginia address, such as:The out-of-state vehicle title or vehicle registration card.More items...?
If you do have to pay taxes on your gifted vehicle, the state uses the vehicle's fair market value to calculate the amount you have to pay. While some car owners consider selling the car for a dollar instead of gifting it, the DMV gift car process is the recommended, not to mention more legitimate, way to go.
Sign your vehicle title over to the buyer/recipient.On the front of the title in Section A, sign your name, provide the name and address of the buyer/recipient and the odometer reading of the vehicle. If you are selling the vehicle, complete "Sales Price" which is also in Section A.
