| Washington State House of Representatives |
BILL ANALYSIS |
| Transportation Committee | |
HB 2048
This analysis was prepared by non-partisan legislative staff for the use of legislative members in
their deliberations. This analysis is not a part of the legislation nor does it constitute a
statement of legislative intent.
Brief Description: Modifying the requirements for executing assignment and warranty of title when the purchaser or transferee is a dealer.
Sponsors: Representatives O'Brien, Chandler, Wood, Williams, Moeller, Conway and Condotta.
Brief Summary of Bill |
|
Hearing Date: 2/26/07
Staff: Teresa Berntsen (786-7301).
Background:
Vehicle Dealer Transfer of Title
When selling, leasing, or otherwise disposing of a vehicle, vehicle dealers must promptly make
an application to the Department of Licensing (DOL) for a certificate of title in the purchaser's or
lessee's name. By Washington Administrative Code, the dealer must file the title application
within 45 calendar days of the vehicle delivery date.
Vehicle Dealer Offers to Purchase
If an offer to purchase or lease a vehicle is accepted contingent on securing financing, or on some
other factor, the vehicle dealer must give final acceptance or rejection of the offer within three
days (excluding Saturdays, Sundays, and holidays), without further negotiation. If the dealer
rejects the agreement, before there can be any attempt to reopen negotiations, the deal must be
cancelled and any money, trade-in vehicle, or anything else given as initial payment or security
must be returned.
Failure to adhere to the three-day limit to accept or reject an agreement to purchase or lease a
vehicle is often referred to as "bushing."
Summary of Bill:
If a vehicle dealer rejects a contract that contains contingencies under the "bushing" law, the
dealer is not required to make an application to the Department of Licensing for a certificate of
title in the purchaser's or lessee's name.
Appropriation: None.
Fiscal Note: Requested on February 25, 2007.
Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.