Owner Releasing Interest. An owner releasing interest in a vehicle must:
Report of Sale. An owner must notify 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 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:
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.
PRO: By allowing auto dealers to process reports of sales for the customer trading in their car, this will avoid bad situations for everyone involved down the road. This will also result in more reports of sale being filed which avoids people getting unwarranted parking tickets, tolls, or other charges. This will be convenience for customers including those that do not know they have the obligation to report the sale. This is good for consumers and businesses.