Gifting car process - also still taxes?
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Anonymous
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I didn't realize that in VA even if I gift a car to sibling, they have to pay taxes per KBB value.
Also did I get the steps right? Go to DMV and take along 1) title $15 to transfer 2) Bring valid inspection sticker to DMV 3) License to bring to DMV 4) Insurance card 5) Bill of sale document even for gift. Buyer pays registration fee. Gifter can get refund of fee if more than 6 mths remain. This is separate and done after DMV trip? Gifter stops insurance - 1 day after gift receiver start their insurance. I also have to figure out how to create a "bill of sale". Did I miss anything |
Anonymous
| Sorry, I live in another state, but my DS still had to pay taxes on the vehicle I sold to him. I handled the entire transfer at AAA. |
Anonymous
| Yes you’ll have to pay taxes, well the owner will, plus the property tax annually. |
Anonymous
| You can find a bill of sale online. |
Anonymous
| How totally ridiculous to pay taxes on a gift. Just wow. |
Anonymous
That’s VA for ya. And you pay every year for owning that car too. |
Anonymous
| I know someone who registered in another state. |