What Is An Or Title?

How do you fill out the back of a SC car title?

Back of the title top right – sign name(s) on the line where it reads “Signature(s) of Seller(s).” Back of the title right below where you signed name(s) – print name(s) on the line where it reads “Hand Printed Name(s) of Seller(s).”.

What’s the difference between and and/or on a title?

If the word OR is used (John Smith or Marie Smith) then either party can transfer the property. If the word AND is used (Juan Lopez and Maria Lopez) then both parties must sign over the property. Protect yourself from the very beginning. When buying the car always have the title use the word AND.

What does and/or mean on a deed?

joint tenancy with right of survivorship3) If it’s a And/Or – John Doe AND/OR Joe Ross, then this is a joint tenancy with right of survivorship. To transfer ownership of this vehicle, license plates and/or fees or to record loan information, the signatures of both parties will be required if both are living. Upon proof of death, the survivor may sign alone.

How do you trade in a car with two owners?

Both co-owners must sign the vehicle’s title to release ownership to a dealership when trading in a vehicle.

What happens if you make a mistake on a 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.

Can you transfer a car title online in Minnesota?

Each vehicle registration and title is handled by Minnesota Driver and Vehicle Services. The title transfer paperwork can be mailed directly to DVS or submitted in person at a local deputy registrar office.

How do you sign a title over to someone else?

On the title where it says “Signature(s) of all purchaser(s),” all persons who are buying the car should sign their names. Next to that, the seller should sign their name. On the next line, all buyers and sellers should print their names.

Does it matter whose name is first on a title?

Property owner names are listed on deeds, which typically are recorded in county public land records. The order in which owner names appear on deeds does not affect ownership rights. For instance, if a deed names John Doe and Mary Smith as grantees, or owners, they share property ownership.

What if the title has two names on it?

If there are 2 owners listed on the front of a title, the majority of the time, both people will need to sign as the seller. If there is an ‘or’ in between the names, typically only 1 signature is required.

Can a car be registered in one name and insured in another?

Can I have a registration in my name with the automobile liability insurance coverage in the name of another person. No. The automobile liability insurance coverage must be in the name of the registrant and must remain in the name of the registrant.

Can I get a title notarized without the seller?

A vehicle title can be notarized by the owner, without having to identify a buyer. Both the buyer and seller sign the title or confirm in person at the notary that they did sign the title. Only the signature of the seller must be notarized.

How do you get someone’s name off a car title?

How to Remove a Name From a Car TitleTake a look at the title. If the title says your name and then “AND/OR” the other person’s name, you can title it yourself without the other person’s permission or signature. … Contact the person whose name you wish to remove from the title. … Send the title in the mail to the person whose name you are removing.

What is the difference between owner and co owner?

Joint owners have rights that are defined by the type of ownership method chosen. The term “co-owner” implies that more than one person has an ownership percentage of the property. Joint ownership, in its three common forms, refines and defines the rights of the co-owners.

What does or mean on a title?

Vehicles can be titled in “and,” “or” or “and/or.” In a nutshell, here’s what each means: (1) “and” means that both owners’ signatures are required to transfer title. (2) “or” means that either owner’s signature is… 1 comment.

What happens if buyer does not sign title?

If the buyer does not sign the title and mail or give it to DVS, then the seller’s name stays on the title of the car. If the buyer doesn’t transfer the title within 10 days, the car’s registration is suspended.

Does a title have to be signed by both owners?

All car titles must be signed by the owners listed on the title in order to be registered with the state. … Almost all states use the “and/or” rules when it comes to co-owners on car titles. If the co-owners names are joined with “and” then both parties must be present to sell the car.

What does it mean to co own a car?

Once you own a car together, you’re both responsible for it—no matter who caused the accident or let a payment slip. You can buy a new car together, or you can buy a share of someone’s existing car. Keep in mind, this often comes with associated fees and taxes, varying by state.

What is a title in English?

A title is one or more words used before or after a person’s name, in certain contexts. It may signify either generation, an official position, or a professional or academic qualification. … Some titles are hereditary.

Is floating a title Illegal?

Title jumping is also known as a jumped title or floated title. Formerly, title jumping was a practice used by car dealers to avoid having to pay taxes on vehicles. … People title jump for many reasons, but mostly to avoid paying sales tax and to avoid the actual title process. Title jumping is illegal in every state.

Can you transfer a car title online in Florida?

When you sell a motor vehicle for which you hold an electronic title, you can transfer the title electronically if the buyer agrees. You and the buyer complete and sign a secure reassignment document at the Tax Collector’s office. The document states the odometer reading.

What if car title says or?

Main practical difference is OR means either of you acting alone can sell the car, while AND means both of you acting together can sell the car.

Who owns a car when two names are on the title?

Both named title holders are legal owners. The only difference is how the names may be separated. If there is an AND between the names both named title holders must sign the title for it to be sold or traded. If an OR separates the two names either can sign off on the title for it to be sold or traded.

Can you sell a car not registered in your name?

However, while it is possible to sell a vehicle to some buyers with only a signed title, this is actually illegal and referred to as “skip titling.” Under the law, once you have a title signed by the original owner, you should title the car in your name officially through the state government.

When selling a car What do you do with the title?

Part 1 of 3: Purchasing or selling a used carStep 1: Complete a bill of sale. … Step 2: Exchange funds. … Step 3: Release any liens on the car title. … Step 1: Obtain the car title from the seller. … Step 2: Fill out the title transfer section on the title. … Step 3: Submit the paperwork to the DMV.More items…•

Is a co signer also a car owner?

Generally, co-signing refers to financing, not ownership. … Even if the co-signer makes the payments, they’re still not the owner if their name isn’t on the title. Unless our anonymous commenter’s parents’ names are on the title, it seems unlikely they would have an ownership interest in the vehicle.