A car title is paperwork that confirms ownership of a vehicle. To alter this ownership of an automobile, you and the new owner must complete a title transfer at a nearby DMV office. Below are the reasons you would have to get this accomplished.
Gifting a Vehicle
When you are ready to upgrade to a newer vehicle, you have an option to trade your old car with the dealership. But you may decide to give it to a child, another family member, or a friend as a gift. When you do this, you will still need a car title transfer in Illinois. Even though you did not formally sell the auto, these documents must still get completed. The new owner should have an updated title in their name.
Name Change
You will need to change your name on all official documents after getting married or going through a divorce. You will also need a car title transfer in Illinois. This documentation is the proof you own the vehicle and should get updated with the correct information. To get this change accomplished, you will need to bring in your paperwork. These documents can include your marriage certificate, divorce decree, or court order. The corrected name should get listed as the new owner, and you should formally submit the paperwork.
Other circumstances for a car title transfer in Illinois are an inherited vehicle, paying off your car note, and selling your automobile. To learn more, speak with a representative at West Suburban Currency Exchanges, Inc.