Can I buy a car and put it under someone else's name?

If you purchase a car for someone else, you have the option to have the loan in your name or to cosign with the individual you're buying it for. The only way to buy the vehicle as a surprise is to put in the loan in your own name. The title may be registered under both names.

What happens if the buyer doesn't sign the title?

Have both parties sign it, create a copy, and then send the bill of sale to the DMV. If anything happens and the buyer fails to register the car, you'll have the proof needed to say the car's ownership has been transferred and it is no longer in your name.

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Louisiana Name Affidavit of Buyer

Same Name Affidavit

Name: Louisiana Name Affidavit of Buyer
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.87 (330 reviews)

Category:

Louisiana Real Estate - Closings

State:

Louisiana

Control #:

LA-CLOSE5

Format:

Instant download

Description Same Name Affidavit Template

The Buyers Name Affidavit is for the Buyer to provide a statement of his or her legal name and signature, as well as to certify to other "known as" names. Many times persons sign documents in different ways and the name affidavit is necessary to clarify that the signatures are one and the same person. i.e. John Jones, John T. Jones and J.T. Jones are one and the same person.

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How to fill out Louisiana Name Affidavit Of Buyer?

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FAQ

After the payment has been transferred, the seller needs to sign the title over to the buyer (instructions are normally provided on the back). The seller will then need to contact the DMV within 5 days to transfer ownership and release themselves from any liability for the vehicle.

The following line says Signature of buyer. The buyer should sign on this line. Next to that, the buyer should print their name. Note that if two people are taking ownership of the car, both people must fit their names on the same lines. The next line says Name of seller. The seller should print their name there.

Directly under the statement Assignment of title by registered owner, write in the date the car was sold. On the next line, write in the name or names of the buyers and their address. On the next line, write in the odometer reading. Where it says Signature(s) of buyer, the buyer or buyers must sign the title.

In simple situations where you own the vehicle outright and wish to transfer ownership to someone else, all you must do is complete a title certificate. Once you have filled out and signed the certificate, the buyer or recipient can take the title to a local DMV office and officially transfer ownership.

If you purchase a car for someone else, you have the option to have the loan in your name or to cosign with the individual you're buying it for. The only way to buy the vehicle as a surprise is to put in the loan in your own name. The title may be registered under both names.

Selling a car means that, as the original owner, you don't have to pay any tax.This may make selling a car a better option than giving it to a friend or family member, which could cause the gift tax to come into play. According to the IRS, any gift worth more than $13,000 is liable for gift taxes, as of 2010.

Yes, you can still sell the vehicle in Louisiana. However, if the vehicle is going to be registered in Louisiana, you must have a notarized bill of sale as well as a properly signed title transferring ownership rights to the vehicle.

Have both parties sign it, create a copy, and then send the bill of sale to the DMV. If anything happens and the buyer fails to register the car, you'll have the proof needed to say the car's ownership has been transferred and it is no longer in your name.

The procedures for transferring ownership are similar to buying or selling a car: the donor must include the odometer disclosure on the title, both parties must sign and date the title, and the recipient must go to the DMV and apply for a a new title in his/her name and pay the transfer fee. Making Name Corrections.

Same Name Affidavit

Description Same Name Affidavit Template

Signature Name Affidavit Related forms

How to fill out Louisiana Name Affidavit Of Buyer?

Show more info

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Form popularity

FAQ

Do I give the title to the buyer?

How do you sign a title over to a buyer?

How does a buyer fill out a title?

How do you put a title in someone else's name?

Can I buy a car and put it under someone else's name?

Is it better to gift or sell a car to a family member?

Do Louisiana titles have to be notarized?

What happens if the buyer doesn't sign the title?

How can I put my car in someone's name?

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Same Name Affidavit

Description Same Name Affidavit Template

Signature Name Affidavit Related forms

Related legal definitions

How to fill out Louisiana Name Affidavit Of Buyer?

Show more info

Trusted and secure by over 3 million people of the world’s leading companies