Registration and/or Titling is a legal proof of legal ownership with and for the state you reside in and recognized by the courts and insurance providers. A TC is very seldom always on a truck and/or attached to.
Therefore, when off the truck, it is NOT cargo, and if stolen or lost the a disaster, if not registered or insured, you will, can, or may have a proof of ownership that des not stand up in court. A legally written "Bill of Sale" can help to prove ownership but anyone can simply write a bogus later dated "Bill of Sale" for the TC and challenge actual present ownership of the TC in a court of law. Written documents over rule verbal always! Has happened so many times and not only with TC's. It's my word against yours and I have furnished a written "Bill of Sale" and I claim you'd stolen it back... Think about it!
Our Insurance agent made us aware of this and showed us several claim cases where a "Bill of Sale" used (real or not) had awarded legal ownership of the item or TC to the party with the latest dated "Bill of Sale" in some lax states. It was an eye opener and addressed as to why Michigan and many other states requires titling or registering of ownership! I wholeheartedly agree! Some TC's are now over a $50,000 purchase and that's a lot to give away.
