When you sell or transfer your car to another party you need to do a Release of Liability. Actually, this will notify the DMV that you sold or transferred it. It is only required when your car or vessel has a new owner. Legal owner transfers (you don’t need to do this when it is a transfer between lenders). It is also not necessary when removing lienholders. These are necessary for you to be protected. In other words, when it is properly completed, if the new owner has an accident or gets a ticket, they will be at fault for it. It will be on their record, not yours. You must notify the DMV that you sold your car within five days that the car was sold or transferred.
A DMV Release of Liability Legally Protects You
The NRL does not remove your name from the vehicle record. Only the buyer’s application for transfer. Using the endorsed title received from you can do that. When the information is received by DMV and updated to the record, you are no longer responsible. You will legally not be responsible for civil or criminal actions arising with the vehicle after the date of sale. For example, you will not be liable for: Parking or traffic violations. Anything that happens after the sale or transfer date. Registration renewal fees and penalties resulting from operation of the vehicle after the sale.
NOTE: In the case of a suit or complaint, the court is responsible for determining if you have complied with the law and are exempt from civil and/or criminal liability. This is just the basic information but it is a lot though, right? That is why we came to make it way more simple, we can do DMV Release of Liability for you, in no time.