How do I transfer my title to a new owner?
We currently have a loan for our RV and have a buyer interested in purchasing it. The bank said to have him come in with us, have him give them a certified check made out to us for the whole amount o...
Forum Discussion
Bumpyroad wrote:
the bank should release the lien on the title and there are spaces on the title to indicate the new owner.
bumpy
That's what we did. Ask someone else in your bank because I think it is called a Third Party Release of Lien? Can't remember.
On that form we put the new owner's name, address, phone number with specific instructions to send the title to the new owner. When the loan is paid free and clear on the account...the bank will send the Title directly to the new owner.
We also drafted a Bill of Sale both parties sign. Also go to your DMV, they have a form that you sold the vehicle and you may have to report it within 10 days.
The bank made 2 copies of every piece of paperwork so buyer and seller has a copy.
