Owner Releasing Interest.
An owner releasing interest in a vehicle must: (1) sign the release of interest section provided on the certificate of title or on a release of interest document or form approved by the Department of Licensing (DOL); (2) give the certificate of title or evidence of ownership document to the person gaining interest in the vehicle; (3) give the person gaining interest in the vehicle an odometer disclosure statement if one is required; and (4) report the vehicle sold.
Report of Sale.
An owner must notify the DOL, the county auditor or other agent, or subagent in writing within five business days after a vehicle is sold, given as a gift to another person, traded privately or to a dealership, donated to charity, turned over to an insurance company or wrecking yard, or disposed of.
A report of sale is properly filed if it is received by the DOL, the county auditor or other agent, or subagent within five business days after the date of sale or transfer and it includes certain information, including:
Vehicle dealers are licensed and regulated by the DOL.
A vehicle dealer may, but is not required to, file a report of sale on behalf of an owner who trades in, sells, or otherwise transfers ownership of a vehicle to the dealer. A vehicle dealer who files on behalf of an owner must collect and remit the required fees from the owner.
(In support) Many people fail to file a report of sale when selling a vehicle. If a report of sale is not filed, the former owner may receive notices and have to pay for parking tickets and other expenses. Allowing dealers to file on behalf of customers would not increase fees to customers. Dealers would not receive any additional compensation, but relations with customers would improve.