Section 12 of 38
Chapter 11: Transfers
11.095 Legal Owner Is an Individual Company (not a lending institution or dealer)
When an individual or a company that is not a lending institution or dealer is shown as the legal owner of record and that individual cannot be located for a release or lien satisfied, in addition to all transfer or nonresident requirements, the following are required:
- A Statement of Facts (REG 256) form completed by the applicant stating the current retail value of the vehicle and what efforts were made to obtain the release.
- Evidence of the applicant’s attempt to obtain the legal owner’s release in the form of a certified letter returned to the sender, unclaimed and unopened.
If the letter was delivered, but a response was not received, the postal receipt acknowledging receipt of the letter by the addressee is acceptable. Sufficient time (at least 30 days) must have elapsed to give the recipient time to respond.
- A Motor Vehicle Bond for the value of the vehicle.
- All fees due.