can I sell a vehicle I bought yesterday thats not in my name?

[lwszabo]

I bought a monster yesterday and was offered 1000 more than i paid while I was on the way home. I have the title signed by the guy I bought it from, can I just take the cash and fill in the potential new buyeres name on the title? I only bought the bike becuase it was a deal.

[derby]

take the money, give the title to the new buyer as is...

[lwszabo]

the only thing i worry about is he knows where I live1 there is nothing wrong with the bike, its just not in my name. I dont want to pay to get the title in my name only to sell it and then pay taxes on it!!!

[vwboomer]

Shouldn't be a problem. I've sold a vehicle like this.

[redxblack]

title regs vary by state, but it should be fine to flip it without putting it in your name.

[Raux]

in oklahoma seller and buyer had to be notarized if i remember correctly.

what state are you in?

[He Man]

In my state...

If the Original owner signed it (and the title was in his name) and handed it off to you, then he has officially signed off on its ownership. if you NEVER put your name on the title and then sold the bike to him, in the yes of the DMV, you never bought it, and he is the owner of it. All he has to do is put his name on the title and pay the KBB tax on it.

[lwszabo]

 a sc title that donr need notarization! Awesome!

[ducatiz]

in no state can you "legally" do this, but i have never heard of anyone but a dealer being prosecuted for it.  dealers are supposed to sign and use the dealer resell part of the title, but some small ones try not to.

if you have a legitimate bill of sale, i would not worry about it.  the issue is whether you took the title document fraudulently.  if there are no notary requirements, flip away.

[redxblack]

^^ what he said. Ohio requires seller signature to be notarized, but not the buyer. As long as the state gets their cut on sales tax, it's gravy.

[Rameses]

Yep.

If the guy's signature is on it that you bought it from, but you never filled out the buyer portion, that's known as an open title.

Get the cash from the guy you're selling it to, hand him the title and tell him to do whatever the make the beast with two backs he wants to with it.

 

[R0CKETMAN]

Complete a bill of sale, two copies. Notarized would be a bonus. Agree to work with the buyer to get the title in his/her name.

[ScottRNelson]

Complete a bill of sale, two copies. Notarized would be a bonus. Agree to work with the buyer to get the title in his/her name.

It's important for you to fill out a bill of sale for the buyer.  That should be all that you need, at least in California.

[rgramjet]

In MD, if the title or bill of sale is not notarized, they will charge 6% of KBB value.  They only care about the notary stamp if the sales price is below kbb value.

[Preisker]

I just did that about a month ago with a CX650 Turbo, bought it, turned around, sold it, the state had no idea I was in any way involved.