Sec. 3.4. (a) If a vehicle for which a certificate of title has been issued is sold or if the ownership of the vehicle is transferred in any manner other than by a transfer on death conveyance under section 9 of this chapter, the transferring party must do the following:
(1) Endorse the certificate of title by assigning the certificate of title with warranty of title, in a form approved by the bureau, with a statement describing all liens or encumbrances on the vehicle.
(2) Deliver or transmit the certificate of title to the purchaser or transferee at the time of the sale or delivery to the purchaser or transferee of the vehicle, if the purchaser or transferee has made all agreed upon initial payments for the vehicle, including delivery of a trade-in vehicle without hidden or undisclosed statutory liens.
(3) Unless the vehicle is being sold or transferred to a dealer licensed under IC 9-32, complete all information concerning the purchase on the certificate of title, including, but not limited to:
(A) the name and address of the purchaser; and
(B) the sale price of the vehicle.
(b) If a vehicle for which a certificate of title has been issued by another state is sold or delivered, the transferring party must deliver or transmit to the purchaser or receiver of the vehicle a proper certificate of title with an assignment of the certificate of title in a form prescribed by the bureau.
(c) The original certificate of title and all assignments and subsequent reissues of the certificate of title shall be retained by the bureau and appropriately classified and indexed in the most convenient manner to trace title to the vehicle described in the certificate of title.
(d) A person who violates subsection (a)(1) or (a)(3) commits a Class B infraction.
(e) After a person delivers or transmits a certificate of title to a purchaser or transferee under subsection (a)(2), the person may deliver the certificate of registration of the vehicle to the bureau under IC 9-18.1-4-6 to have the transfer of ownership of the vehicle indicated in the records of the bureau.
As added by P.L.262-2013, SEC.23. Amended by P.L.217-2014, SEC.15; P.L.226-2014(ts), SEC.14; P.L.3-2017, SEC.1; P.L.27-2018, SEC.8.
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