Tuesday, October 22, 2013

How to Title a Car as a Gift to a Child

Sweet 16 is a hallmark age for most children, not so much for the possibility of a kiss anymore but for a driver's license instead. A driver's license and a car are tangible expressions of independence. It can be very tempting to give a car to a teenager, but deeding a car to a minor can be quite complicated.

Instructions

    1

    Consult your state's department of motor vehicles. Laws vary from state to state regarding minors owning vehicles. A title is considered a legal contract; some states don't allow a minor to have his name on a deed.

    2

    Ask your state's licensing agent about options. Some car dealerships will allow a parent and child to co-sign a sales agreement so that both names can be on the title.

    3

    Consult the insurance agency the child will be using. Legal agencies don't always verify the ages of a name before issuing a title, but insurance companies do. Many insurance companies will not sign a minor without an adult's signature, too.

    4

    Exercise patience if your state won't allow the minor's name to be on listed the title. As the owner, you may allow the child to drive the car as a gift until he turns 18. At that time you and the young adult may visit the county licensing agency to transfer the title to its new owner.

0 comments:

Post a Comment