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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.
You have 30 days from the date of purchase to title and pay sales tax on your newly purchased vehicle. If you do not title the vehicle within 30 days, there is a title penalty of $25 on the 31st day after purchase.
A Missouri warranty deed form transfers Missouri real estate from the current owner making the transfer (the grantor or transferor) to the new owner (the grantee) with a full warranty of title. The warranty guarantees the new owner a good, clear title to the property.
A Missouri general warranty deed is used by an owner of real estate to legally sell property in Missouri. This type of deed comes with a guarantee from the seller that the title to the property is free and clear of encumbrances and that the seller has the right and legal authority to sell the property.
There are only nine title-holding states: Kentucky, Maryland, Michigan, Minnesota, Missouri, Montana, New York, Oklahoma, Wisconsin. In the other 41 states, titles are issued to the lien holder of your vehicle until the loan is fully paid off.
The main difference between a grant deed vs. warranty deed is the level of protection offered. A warranty deed offers a higher level of protection than a grant deed. With a grant deed, the grantor is guaranteeing that they haven't sold the property to anyone else, and that it is clear of any liens or restrictions.
The lemon law in Missouri does not cover used vehicles. However, the Magnuson-Moss Warranty Act covers vehicles suffering from problems that arise during the vehicle's manufacturer-issued warranty. Most used vehicles are purchased long after their original warranty expired, so it's best to consult with an attorney.
Quit claim deeds are common in divorces when one spouse grants his or her rights in real estate from the marriage over to the other spouse. A warranty transfers ownership and explicitly promises the buyer that the seller has good title to the property.