Charley Hoyt

When purchasing a non street legal race car what is required to change ownership? A Bill of sale? Or a receipt? What is the difference?

Thanks,
Charley

crimlwC6

None so long as it doesn't come up in the future , but a notarized bill of sale is never a bad idea.

crimlwC6

Check local MVD/DVM regulations.

jlutherva

I asked this same question a while back, 18 months or so. The consensus was a bill of sale is sufficient. If a title is issued, some states will send you a personal property tax bill.

I like the idea of the notarized BOS.

Jim

eogel

If the car has a title, have the title endorsed to you just like you were buying a used car. Whether you get a new title or not us up to you, but you have the appropriate document showing ownership. As note above, your state may want taxes annually if you get a new title.

RDnomorecobra

Gotta check state/local regs. In PA a purpose built race car may not have ever had a title issued and a BOS is sufficient. If it was street legal and titled initially I would want the title to the car signed over as well as a bill of sale documenting the agreement to transfer ownership. Yes would pay tax but I'd rather that than having my ownership questioned later.

bosco022

If it was always a race car get a bill of sale and the log book from the organization it raced with. Good idea to do some research on the car and the chain of ownership.

ScaryFast

Ha, actually that's probably not a good idea...

Every time I did this research I found out the car had been wrecked

I got the title with mine, but that's obviously assuming at one point yours had been a street car.

Charley Hoyt

It was never a street car. My car is a 2010 Radical SR3. I did research the car and there were three owners before me. My car started life as a Factory Works race car. It then went to a Southern California race team. When that team went under all of the team equipment (three cars, transporter, etc) was purchased by Spring Mountain. I purchased the car from SM. They gave me a receipt when I purchased the car and they told me that they were going to send me the Bill of Sale, but they haven't.... Even after being reminded several times over the past 5 months. I have confidence in SM, they have been fantastic to work with. The reason I am asking about this is because I am trying to figure out if perusing the BOS is necessary, or if the receipt is adequate.

Thanks for the help,
Charley

rbl

Receipt is not a good document to show ownership.

You need a BOS and as others said the log book if it is a sanctioned car. There is a provision in the book for the sale as well (SCCA cars anyway).

Write up a BOS and mail it to them for signature. Notary is not necessary.