Originally Posted by Frederick L. Simson
I assume the previous owner signed off on this title
releasing his/her ownership claim? How long have you "owned" this trailer without documenting your
ownership? There could be unintended consequences for a buyer outside of Indiana.
Original owner signs title
and gives it to purchaser, if purchaser transfers title
they pay a fee and in some states sales tax on the purchase price. Could see someone not wanting to pay the money on a "project" until it was closer to done.
Possession of the title if purchaser information is not filled in should not present a problem, you just get a bill of sale and fill out the title with your information.
However if title is already filled in with purchaser as current owner then one would have to probably provide own sec. of state with notorized bill of sale from the person listed on title as purchaser. AND hope it was accepted, possibly expect a long wait for new title in own name while check on title being clear was processed.
Might also pay some extra fees for late transfer or that interstate check on title being clear.
Was a time when possession of the title was possession but it's gotten more complicated since then.