State of LOUISIANA Title Laws

Published: 08th April 2011
Views: N/A

The pink slip that proves motor vehicle ownership is called its title. Clearly this is a critical piece of document for all motor vehicle owners. Different states have variations of title laws. The state of Louisiana title laws are designed to govern the issuing adjustment and transferring of titles in that jurisdiction. These laws govern the issuing of titles for new and used motor vehicles.

Salvage Titles

The laws governing salvage titles in the state of Louisiana address damaged vehicles and their reuse. This type of title is required in order to facilitate the purchase and restoration or remodeling of auto items that have been written off. In order to access a salvage title a prospective auto owner will have to make an application. Those who wish to purchase these types of vehicles for dismantling will need a permit for this purpose.

Disclosure of Salvage Status

This is a requirement under the state of Louisiana title laws. The sale agreement for the vehicle that has been salvaged must bear the revelation of its status. Failure to do this could result in the sale agreement being voided.

Title Transfers in Louisiana

Title transfer processes allow the ownership of the vehicle to change. This means that the name on the title becomes the name of the new owner. Title transfers may be required for any of the following purposes

Selling a vehicle

Inheriting a vehicle

Donating a vehicle or giving it as a gift

Louisiana title laws require that the person who is getting or buying the vehicle reports the transfer within five days of the transaction.

Process for Purchased Vehicles

If the title needs to be transferred as a result of a sale then the previous owner is required to sign the title to the new owner. The title will have to be notarized. The recipient of the vehicle will need to record the odometer reading on the back of the title. For vehicles exceeding ten years in age an odometer disclosure statement will also need to be completed. The purchaser will have to then complete a notarized bill of sale if the title does not have the sale price of the vehicle. The final step in this process includes the completion and submission of the application for the title.

Process for Lien Removal

In order to remove a lien after paying off the car loan the lien holder’s name may be removed from the title.

In order to get this done the vehicle owner will need to complete a vehicle application form. The next step is to access the title from the lien holder. The title should either have a lien release on it or a letter of lien satisfaction comprising the company's letterhead with the contact information of the lien holder. These documents along with the vehicle's registration certificate should be submitted in order to complete the process. A fee may be required for this service.

Process for Donated Vehicles

For these vehicles the law requires that the title and the act of donation should be notarized. An odometer statement is required for vehicles that are below ten years old. The process is completed by submitting these documents along with application for title form.

Title laws may appear to be complicated however upon close examination they can be found to be fairly straightforward.

About Author:

Read more details about Salvage Yards in MONROE LOUISIANA and MONROE Salvage Yards .

Report this article Ask About This Article

More to Explore