Home Motor Vehicles Transfer of a Kentucky Titled Vehicle

PostHeaderIcon Transfer of a Kentucky Titled Vehicle

KRS 186.020 requires a person who purchases a vehicle or brings a vehicle into Kentucky from another state to make application for title within fifteen (15) days. If the owner of a motor vehicle does not reside in Kentucky, the motor vehicle shall be registered with the County Clerk of the county in which the motor vehicle is principally operated.

The following documents and information are required for the old small (7"x 8")Kentucky titles printed through 2/28/2000:

  1. Certificate of title with Assignment of Title properly completed. Photocopies are not acceptable. Vehicles cannot be transferred if there are any unreleased liens appearing on the title.
  2. Application for Title/Registration (TC96-182) properly signed and notarized. Titles in two names joined by AND require both signatures.
  3. To be taxed on sale price complete the Total Consideration and Trade-In Information on the Application for Title/Registration.*(taxable value cannot be less than 50% of the "trade in" NADA value) The seller must complete the bottom left section of the application and have their signature notarized.
  4. Federally conforming odometer disclosure statement.**
  5. BUYER must provide current proof of Kentucky insurance.
  6. Buyer/Seller personal ID.
  7. Social Security number or "Individual Taxpayer Identification Number" for each party appearing on the title, or federal ID tax number for companies.
  8. TITLE ONLY transfers require that plates be surrendered to the County Clerk and the purchaser may be required to sign an Affidavit of Non Highway Use (72A007).
The following documents and information are required for the new large (8.5"x 11")Kentucky titles printed since 3/1/2000:
  1. Certificate of title with Transfer of Title by Owner properly completed on the back of the title. Photocopies are not acceptable. Vehicles cannot be transferred if there are any unreleased liens appearing on the title. (Dealer Assignment sections on front only used by dealerships.) A separate title application can not be accepted with new titles.
  2. Seller signs on left and signature is notarized. Buyer signs on Right. Titles in two names joined by AND require both signatures.
  3. To be taxed on sales price complete the Total Consideration and Trade-In Information section on the back of title. Complete the Seller and Buyer sections , sign and have notarized.*
  4. Complete Odometer Disclosure section on back of title.
  5. BUYER must provide current proof of Kentucky insurance.
  6. Buyer/Seller Personal ID if Signatures being notarized by County Clerk's Office.
  7. Social Security Number, or "Individual Taxpayer Identification Number" for each party appearing on the title, or federal tax ID number for companies.
  8. TITLE ONLY transfers require plates be surrendered to the County Clerk and the purchaser may be required to sign an Affidavit of Non Highway Use (72A007).

NOTE: Property Tax - All vehicles are assessed January 1 of each year. The January 1 owner of record is responsible for the tax for that year even if the vehicle is transferred to a new owner. To avoid having a delinquent account, taxes should be paid immediately upon transfer. Delinquent taxes owed by either seller or buyer may prohibit transfer until the taxes are paid.

Buyer Beware!
Title and Serial Number Check

Before purchasing a vehicle, make certain that the seller can give you a valid title. Also check the title with the vehicle identification number (usually found on the driver's side above the instrument panel) to verify that they match. If they do not match, do not complete the transaction until the discrepancy has been corrected.

FEES AND TAXES

Usage Tax - A six percent (6%) motor vehicle usage tax is levied upon the “retail price” of vehicles registered for the first time in Kentucky and upon registration resulting when the vehicle is subsequently transferred. In the case of used vehicles "retail price" is either 100% of the total consideration (taxable value cannot be less than 50% of the "trade in" NADA value) or the appropriate value listed in the prescribed price reference manual. Trade-in credit is allowed in the case of used vehicles if both vehicles involved in the trade are currently registered in Kentucky.

$-9.00 - Kentucky Title Fee
$29.00 - Kentucky Speed Title Fee***
$ 8.00 - Registration fee for in-state transfers
$22.00 - Record Lien
$-2.00 - Preparation of Motor Vehicle/Title Lien Statement
$ 3.00 - to $6.00 Preparation of Title Application
$21.00 - Registration fees will be calculated from date of licensing through owner's birth month. Maximum registration fee for one year is $21.00
~~~~~ -- Usage tax, determined by information given on the Affidavit of Total Consideration or the appropriate value listed in the prescribed reference manual.

*Penalty provisions for any person who willfully and fraudulently gives a false statement as to the total and actual consideration paid for a motor vehicle shall be guilty of a Class D felony and shall be fined not less than $2,000 per offense.

** Using a vehicle transaction record TC-96-182 rev. 3/89 or a properly completed KY title issued after August 1, 1990,-fulfills this requirement.

*** Printed the day of application

Acceptable Methods of Payment:
Cash, Certified Check, Cashier's Check, Money Order. (Visa and MasterCard are not accepted for title or transfer transactions)

Last Updated (Monday, 03 May 2010 04:09)

 
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