Whenever a vehicle is sold or transferred, the previous owner has to fill out a notice of release of liability form. It is necessary to inform the DMV about the transfer of ownership. The form can be tricky, but below is some guidance and information on how to fill out a notice of release of liability form.
The 3 Basic Things Required
The three things required for the process are the license plate number, the name and address of the new owner and the last 5 VIN digits. Without these things, the general release of liability form can't be completed.
Name of the New Owner
The first thing to be done is fill in the name of the new owner of the vehicle in question. This is to inform the Department of Motor Vehicles about the person who has to be held responsible for the vehicle. If the previous owner can't remember the new owner's name, it's advised to enter the name as 'Unknown.'
Address of the New Owner
Fill in the current address of the new owner, complete with the apartment number. If there is no information about the new owner's address, it can also be filled in as 'Unknown.'
Enter the odometer reading at the time of the sale. This condition only applies to motor vehicles as directed by the DMV.
The Date of the Sale/Transfer
The next thing to be filled in on the form is the date the present owner made the sale, or the transfer of the respective vehicle to the new owner.
The Seller/Lessee's Name
Next, the present owner who is submitting the notice of release of liability form has to fill his or her name.
The Sale Price
The sale price of the vehicle paid by the new owner has to be filled in. The value should only be filled out in dollars, not cents. If the vehicle is a gift, the applicant has to enter '0.'
The Seller/Lessee's Address
The seller/lessee has to fill in his or her address. He or she also has to enter the apartment number.
The Seller/Lessee's Signature
After filling the above mentioned information, the applicant (seller/lessee) has to sign his or her name in the designated area.
The License Plate Number, Make, Year Model and ID number
The final things to be filled in on the notice of release of liability form are the vehicle's license plate number or the CF number, the make, the year model, the vehicle's ID number or the hull number.