How To Sign Idaho Banking IOU

- Itd Idaho Form

this presentation will explain how to fill out an Idaho certificate of title when selling your vehicle as well as the release of liability process let's listen in on a call to the Idaho Transportation Department good morning this is Jim entitles how can I help you hi this is Anne my husband and I will be selling our truck we have an Idaho title but we don't know how to fill it out can you help us with that oh yes I'd be happy to help you first of all let's make sure you have the correct title oh that's a good idea you will find the VIN or vehicle identification number on the top left of the title and on the right is where you will find the year make and model okay I see the VIN on the title it's for a 2010 toyota tacoma i have the right title good something else to note if you have ever applied for a duplicate or a lost title be sure that the one you have is marked duplicate title if a duplicate has been issued your original title becomes void we've never lost the title for this vehicle so I guess I don't have to worry about this good now as sellers you will be filling out lines one through four on the front of the title they are directly below your name and address do you see them lines one through four oh yes I see them now since your vehicle is less than ten years old you will provide a current odometer reading and the date of the reading if your vehicle is ten years old or more it would be exempt from this requirement okay we will enter the mileage below that on line two you will write in the dates old and the actual selling price some customers will put in a low amount so the purchaser can avoid paying the full sales tax due yes I've heard about that is that illegal under Idaho code it would be a felony to do this wow I didn't know that I'll be sure to enter the actual price good now on line three you will print the name of the seller and line four is weather seller signs so do both my husband and I sign the title as sellers that's a good question if your names are joined by the word or only one signature is necessary if your names are joined by the word and both signatures are needed I understand our names are joined by or so either of us can sign is that right yes either of you can sign this title as seller so first we enter the current odometer reading and date of reading on line 2 we put the date sold and selling price on line 3 we print the name of the seller and line 4 swear the seller signs that's correct when the sale is completed should we put the purchasers name and address on the title as well yes another state requirement is that you should write in the purchaser information it will be entered on lines 5 through 8 on the title ok I see where that is so then after we receive payment we will fill this out and hand it over to the buyer is that right you're right make sure you receive payment first then after you have filled out the title be sure to remove the detachable portion on the bottom of the title called notice of release of liability oh I don't give that to the buyer no this portion is for the protection of the seller in fact Idaho law requires that you do this within five days of the cell really I didn't know that oh yes properly completing and filling this form with its fee will release you from liability for incidents that may occur after the vehicle has been delivered to the buyer with that include liability resulting from an accident yes that would include liability for injury death property damages repair charges towing fees parking tickets and so on make sure you have the owner's name and address then fill out the form and mail it to the address shown on the back with a check or money order for the fee you can also drop it off at your local County motor vehicle licensing office when the buyer is ready to take the car do not forget to remove your license plates these belong to you and stay with you not the car oh yes I almost forgot about that thanks so much for all your help oh you're welcome we hope this presentation has helped you understand how to fill out your idaho certificate of title when selling your vehicle if you have any further questions please call the Idaho Transportation Department title line at two zero eight three three four eight six six three or you make your local County office you