Whenever selling a vehicle or other titles property in Oklahoma, the owner must sign the title so that the new owner can obtain the title and register the vehicle. If the vehicle being sold is registered, the seller has the option to use the plate on another vehicle or return it.
Table of Contents
- What Are the Basics?
- How do I Sign the Title?
- What if I’ve Lost the Title?
- What Information is Included in the Bill of Sale?
- Why do I need to Include the Odometer Reading?
- Why do I need a Bill of Sale?
- May I Transfer Plates?
- What if I Don’t Transfer Plates to a New Vehicle?
- What if I am Giving the Car to Someone Rather than Selling it?
- How do I, as Executor, Transfer the Car to an Heir?
What Are the Basics?
The Oklahoma Tax Commission processes vehicle titles and the Oklahoma Department of Public Safety (DPS) and its authorized agents process vehicle registration requests whenever someone buys a vehicle that you are selling.
How do I Sign the Title?
All owners listed on the title must sign and date the title at the indicated locations. The seller also must provide the selling price and odometer reading on qualifying vehicles.
What if I’ve Lost the Title?
You can obtain a replacement title from the Oklahoma Tax Commission. You will have to complete a Form 701-7, Application for Replacement Certificate of Title, and pay an $11 fee, plus a $1.55 mail fee.
What Information is Included in the Bill of Sale?
The bill of sale includes the selling price, the names of the sellers and buyers, and the vehicle VIN number, make, model and year. If also includes a location to provide the mileage if the odometer has not rolled over.
Why do I need to Include the Odometer Reading?
The odometer reading helps to track the mileage from one owner to the next. That helps to thwart possible fraud and makes it easier to identify which vehicles are subject to possible factory recalls.
Why do I need a Bill of Sale?
A bill of sale helps to protect you against possible liability if the buyer does not immediately title the vehicle and is involved in an accident. The bill of sale also helps the Oklahoma Tax Commission to apply appropriate taxes and fees on the title transfer.
May I Transfer Plates?
If you have another vehicle, you can transfer the license plates from one that you sell. The license plate cannot transfer to the buyer.
What if I Don’t Transfer Plates to a New Vehicle?
If you do not have another vehicle, you must return the license plate to the Oklahoma DPS.
What if I am Giving the Car to Someone Rather than Selling it?
You still must treat the transfer like you would a sale and just list the selling price as a “gift.” The Oklahoma Tax Commission will base the tax on the vehicle’s value.