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Post by afn47594 on Aug 1, 2024 14:11:01 GMT -5
I plan on selling my zuma 50 and Honda Monkey 125. I do have the titles for both bikes. I never put the titles in my name because I do not need the bikes to be tagged because I never ride them on highway. I only ride them on the dirt roads where I live in the country. I assume I should be able to hand over the titles to the new owners without penalty. This is in the state of Florida.
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Post by luvscooters on Sept 2, 2024 13:32:46 GMT -5
So there's the legal side of it and then there's a side that like 90% of the people do. Legally when you take possession you're supposed to pay taxes on something that should be registered in your state. Now FYI what you're selling is what's called an open title and I've known guys that have had motorcycles 56 bikes they just throw a plate on a bike they ride it they like it they keep it and they just swap plates back and forth. If the last owner when they sign the title dated the title. When you hand that title over to new person if they have to go register it they're going to pay taxes on the date that the original person wrote on that title. So for example I had a friend who bought a 2000 Hayabusa he had a lot of bikes and this bike was 99% at the drag strip only a few times he would take it on the street so he never registered it 14 years later he sold his turbo Hayabusa. The title that he handed over was illegal title it was in the original owner's name it was signed it was dated. The guy that bought it when he went to the DMV they charged him penalties and interest from the date 14 years ago that was written on that title. There's two ways that you can sell it you can give that person the title and just go here you go and send them on their way and tell them to make up a bill of sale matching the person on the title that in your state you never needed to register it so you just wrote it around because there's no way you could register it. If that's the case what I would also do is you write up a separate bill of sale in your name with the date saying I John Doe I'm selling my 2000 whatever year whatever flavor brand scooter with so many miles on it the scooter is sold for X dollars cash it is sold as is as seen with any and all faults no refunds. And that will exonerate you completely if there's anything ever wrong with it maybe they have to put it through an inspection in their state and it fails they can't come back to you
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