| Standard Operating Procedures |
SOP No.: T-20 | Page No.: 1 | |||||||||||||||||||||
| Effective: May 17, 2007 | |||||||||||||||||||||||
| Subject: | Supersedes: T-20 | Dated: 8/31/03 | |||||||||||||||||||||
USED VEHICLES |
Form No.: 812 | ||||||||||||||||||||||
| Statute: AS 28.10.271 - 331 | Regulation: AAC | ||||||||||||||||||||||
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Fees | Transfer by Owner | Transfer by Dealer | Lost Title | Procedures | Historic Value Title The status of a vehicle changes from "new" to "used" as soon as it is sold by a dealer to someone other than another dealer. A used vehicle is normally one that has been previously titled and/or registered. There may be untitled or unregistered used vehicles in areas of the State where title and/or registration is not required. (R-2) When a customer states that they have a "Paperless Title" in another state and wish to obtain title and registration in Alaska, they must obtain a paper title from the other state before Alaska can issue a title or registration. If there is a lienholder, we can issue a "Registration only" until the lien has been satisfied. Dealer Sale: A dealer is not required to obtain title in their name. [AS 28.10.281] They are required to reassign the title, in the dealer re-assignment on the back of the title, when the vehicle is sold and to submit the title and the buyer’s application to DMV within 30 days. [AS 28.10.291] If the vehicle is being taken out of state or to an area where title and registration is not required, the dealer is not required by statute to submit these documents to DMV. See T-80 for procedures when the vehicle has been reassigned to a dealer and the re-assignment portion of the title is full. Sale to Individual or Company: Per state law, an individual or company that purchases a vehicle may not sell the vehicle to another party until they have been issued a title in their name. State law requires that the buyer obtain title and registration within 30 days of the transfer. Federal law requires that a buyer must have the seller’s title properly released and the odometer reading completed when applying for title. This law prohibits states from licensing a vehicle unless the original title is submitted with the application. This requirement went into effective on April 29, 1989 and applies only to voluntary transfers and not to involuntary transfers such as court orders, repossessions, or lien sales. [AS 28.10.311] It is not permissible to use a lost title affidavit or chains of bills of sale to transfer title. TRANSFER OF OWNERSHIP BY VEHICLE OWNER [AS 28.10.271(b)]
BY LICENSED MOTOR VEHICLE DEALER
If a title has been lost, regardless of whether the buyer or the seller lost it, the owner shown on DMV records must apply for a duplicate title (T-060). When the vehicle has been re-sold to a third party and the title has been lost, provide the customer with a surety bond packet. If the title was issued in another state, the owner must contact that state to obtain a duplicate. See R-3 regarding confidentiality of motor vehicle records. To transfer a title the applicant must provide the following documents. [AS 28.10.321] If the title is being transferred four (4) months or less before the registration expires, the customer will not receive a pre-bill. Be sure to advise the customer and provide the renewal options available to them.
* When a customer requests that they be able to retain the original title due to historic value:
UNDER NO CIRCUMSTANCES CAN A TITLE BE RETAINED BY THE CUSTOMER
Cross Reference:
HISTORY: 8/31/03 - Added reference to T-80 in regards to the reassignment portion of the title being full. Title and lien fees increased from $5.00 each to $15.00 each. |
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