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Wisdom & Authority Title Solutions
|Posted on January 19, 2015 at 3:36 PM||comments (9)|
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COMMON AUTO TITLE MISTAKE ISSUES SERIES:
Car Title Mistakes By The Seller and the Buyer
In this four segment series of common auto title mistake issues; I will highlight the most common types of auto title mistakes/omissions, consequences for having the mistakes/omissions present and possible solutions available. Please be advised that the auto title mistakes/omissions is the primary reason why DMV rejection occurs when it comes to auto titles. Keeping that in mind, the first segment in this series that will be addressed is: Car Title Mistakes By the Seller and the Buyer.
This post will portray the mistakes/omissions that the seller and buyer often make on auto titles, the responsibility of each party, the consequences that occur, and solutions available to correct the mistakes/omissions regarding the auto title. Accordingly, the actions that the seller and buyer take regarding completing the title, can affect each other significantly. First, let's take a look at the mistakes that are usually made by the seller or buyer or sometimes both parties:
MISTAKES/OMISSIONS CAUSED BY THE SELLER AND BUYER
RESPONSIBILITY OF THE SELLER AND THE BUYER
To ensure that mistakes and or omissions are alleviated; both parties (the seller and buyer) both have responsibilities regarding the legal transfer of an auto title. The following describes the responsibility of each party:
While the bulk of the title transfer rests upon the seller; there are times that the buyer is expected to complete certain sections that the seller omitted to complete such as:
Note: Generally, the buyer can complete the above areas that were omitted by the seller, however certain DMVs require the buyer to complete the above areas and won't allow the seller to do so, unless they have Power of Attorney to sign on behalf of the seller.
CONSEQUENCES DUE TO MISTAKES/OMISSIONS ON AN AUTO TITLE
Mistakes or omissions that occur on an auto title allows for consequences because an auto title is a legal document and any alterations/scratch-thrus, etc. will void the document. Accordingly, the following are the top consequences that occur when mistakes and or omissions are present with an auto title:
SOLUTIONS FOR CORRECTING THE MISTAKES/OMISSIONS
In the event mistakes an or omissions occur with the auto title; the most important thing to keep in mind is time. The sooner the mishaps are caught and addressed; the easier it is to get the situation corrected (at times). The following are solutions that can help solve mistake/omission issues on an auto title:
Note:Please be advised that when it comes to mistakes with the odometer disclosure, that written acknowledgements won't rectify the situation.
If you are involved in an auto title mistake matter, please contact Wisdom & Authority Title Solutions LLC for assistance.
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