Every vehicle in Maryland must have a Certificate of Title, which identifies the vehicle’s legal owner. The Maryland Motor Vehicle Administration (MMVA) is responsible for administering Title changes. If you’re in Lanham, MD, and you want to transfer vehicle ownership, these are the procedures.
Procedure To Transfer Vehicle Ownership in Lanham, MD
Types of Transfer
The procedure has slight variants depending on the type of transfer you want to make. These are some of the different varieties you’ll come across.
Buying a New Vehicle
The forms that need to be completed when you buy a new vehicle are the Certificate of Title and the Bill of Sale. When you buy a car from us, for example, a stylish 2022 Ford Explorer, we will complete, sign, and date the seller section of the Title. You will complete, sign, and date the buyer section of the Certificate.
We will complete the Bill of Sale, and you will need to provide proof of insurance. We will send all of this documentation to the MMVA office in Lanham, and they will post your new Title in about eight weeks.
Buying a Used Vehicle
When you buy a used vehicle from us, for example, the sleek 2021 Ford Mustang EcoBoost, there is additional paperwork. We will fill in the Certificate of Title together, you will need proof of insurance, and we’ll provide the Bill of Sale. We’ll complete a Certificate of Inspection for the vehicle that attests that it’s fit to drive in Maryland.
In addition, we will file a Notice of Security Interest Filing to confirm that there are no outstanding liens on the car. The final paperwork is a Vehicles Emissions Inspection Program (VEIP) test to show that the vehicle complies with Maryland’s low emissions requirements. We send this documentation to the MMVA, and they will post your new Title to you.
Gifting a Vehicle
If you gift a vehicle in Maryland, the procedure is almost the same as buying a used car. You will complete the Certificate section as the seller, and the receiver will complete the section of the Certificate as the buyer. The purchase price must be marked as a “gift.” If you are giving the vehicle to a family member, the MMVA allows the receiver to waive the 6% excise tax for the transfer.
Donating a Vehicle
If you donate a vehicle to a charity in Maryland, the process is similar to gifting a vehicle. The purchase price will be marked as a “donation,” and the rest of the paperwork will be completed as if it was a gift. There is no excise tax on a donation. The charity will send you a tax-exempt receipt for the vehicle’s value, and you can submit this to the IRS as a tax write-off.
Now that you know the procedure required for transferring vehicle ownership, come in and see us at DARCARS Ford of Lanham. We have a fantastic range of new and used vehicles for you to choose from.
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