gifting car to my niece
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Anonymous
| What steps do I need to complete if I were to gift one of my cars to my niece? It is in not the best shape, so I would gift as is |
Anonymous
| Fill out the title in her name. Get it notarized if required. Give it to her. Cancel the insurance. |
Anonymous
| Sign the title over to her. She will have to go to the dmv and get a new title in her name and pay tax on it. |
Anonymous
|
Depending on where you do this, you may have an easier time of things if you sell it to her for valuable consideration. So, you write up a note that says she paid you $10 for your 2008 Saturn with 158000 miles on it. And she actually pays you $10.
This was what my dad did for me years ago in VA. Not sure it is still necessary now, tho. |
Anonymous
| You need to specify your location for this to be accurate. |
Anonymous
| We are in Maryland---MoCo for me, HoCo for my niece. Thanks! |
Anonymous
|
Good info here. The gift would be exempt from the excise tax if you are 65 or older.
https://mva.maryland.gov/about-mva/Pages/info/27300/27300-38T.aspx |
Anonymous
Thanks. this is ridiculous that if an aunt/uncle under 65, then it can't be considered a gift. 
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Anonymous
| You should prepare a bill of sale. |