Submit Release of Liability
Selling a vehicle comes with anxiety and happiness! A very important step is often missed when one decides to sell their vehicle. That is releasing liability in the vehicle that is being sold. The release of liability is a requirement of the California DMV, as it lets the DMV know pertinent information of the buyer. Once this form is submitted, the information is stored in the vehicle record and any future liabilities are transferred to the new owner. In a perfect this would be true, but this is not always the case. After 10 years and 200,000 customers, The Tag Shop recommends you ensure that the title is actually transferred out of your name, prior to releasing possession of the vehicle to the buyer. 619-609-3189
ATTENTION: IF YOU CHOOSE TO IGNORE THE ABOVE ADVICE AND DO NOT ENSURE THE TRANSFER IS COMPLETE PRIOR TO RELEASING THE VEHICLE, YOU COULD BE LIABLE FOR THOUSANDS OF DOLLARS IN FEE’S!
TOP 6 REASONS TO ENSURE THE TITLE TRANSFER IS COMPLETE, WHEN SELLING VEHICLE!
- Even though you submit a Release of Liability, your name is still on the vehicle record.
- Buyer can and will on most occasions occur parking and toll tickets
- If the car is impounded, the tow yard will contact you when they start a lien sale
- Buyers are sometimes less than honest and engage in illegal activity in the car
- The franchise tax board may garnish your wages for unpaid registration fee’s
- If the car is transferred out of state, your name stays on the registration for 7-10 years
So you sold your car and the buyer never registered the car with the California DMV.
This can be very problematic and costly. You need to take the following steps protect yourself from any future liabilities.
- Submit a Reg 138, Notice of Release of Liability to the Ca DMV immediately. If you do not want to go to the DMV field offce, The Tag Shop can assist you with submitting your release of liability and give you a time stamped copy for your records.
You will need the following information prior to submitting the release of liability.
a. The name of the buyer
b. The address of the buyer
C. The vehicle license plate number
d. The vehicle identification number
e. The odometer reading
f. The sale price and the date of sale