Vehicle Gift Agreement Form

VEHICLE GIFT AGREEMENT

This Vehicle Gift Agreement (the "Agreement") is made and entered into on this day of , by and between Donor Name: residing at Donor Address: (hereinafter "Donor"), and Donee Name: residing at Donee Address: (hereinafter "Donee").

RECITALS

WHEREAS, Donor is the lawful owner of the motor vehicle described below and has the sole right and authority to transfer ownership of the vehicle; and

WHEREAS, Donor desires to make an absolute, gratuitous gift of the described vehicle to Donee without consideration, and Donee desires to accept such gift subject to the terms and conditions set forth herein; and

WHEREAS, the parties intend by this Agreement to effect immediate transfer of ownership and title in accordance with applicable law and to allocate responsibilities for taxes, fees, and liabilities as set forth below.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties agree as follows:

1. VEHICLE DESCRIPTION

The vehicle subject to this Agreement (the "Vehicle") is described as follows:

Year:   Make:   Model:

Vehicle Identification Number (VIN):

License Plate/Registration No.:   Odometer Reading: miles

2. GIFT AND TRANSFER OF TITLE

Donor hereby irrevocably gives, grants, conveys and transfers to Donee all of Donor's right, title and interest in and to the Vehicle effective as of Transfer Date: (the "Effective Date").

Donor shall execute and deliver all documents reasonably necessary to transfer title to Donee and to cooperate with Donee in registering the Vehicle in Donee's name. Transfer of possession shall occur on or before the Effective Date unless otherwise agreed in writing.

3. CONSIDERATION

The parties acknowledge and agree that this transfer is a gratuitous gift. No monetary or other consideration is required or expected by Donor in exchange for the Vehicle.

4. REPRESENTATIONS AND WARRANTIES OF DONOR

Donor represents and warrants to Donee that: (a) Donor is the lawful owner of the Vehicle and has full authority to transfer ownership; (b) to Donor's knowledge, except as disclosed in writing in this Agreement, the Vehicle is free and clear of all liens, security interests, encumbrances and claims; (c) the odometer reading set forth above reflects the actual mileage of the Vehicle to the best of Donor's knowledge; and (d) there are no pending claims, litigation, or judgments affecting Donor's title to the Vehicle.

Lien or encumbrance disclosure: No liens or encumbrances known to Donor.    Liens or encumbrances exist (describe below).

5. ACKNOWLEDGMENTS AND ACCEPTANCE BY DONEE

Donee acknowledges receipt of the Vehicle and accepts the Vehicle in its present condition. Donee accepts all responsibility for registration, licensing, insurance, and any taxes or fees arising from the transfer of the Vehicle effective as of the Effective Date.

ODOMETER STATEMENT: Donor certifies to the best of Donor's knowledge that the odometer reading set forth in this Agreement reflects the actual mileage of the Vehicle unless otherwise stated. If the actual mileage is unknown or exceeds mechanical limits, Donor must state that fact in writing below.

6. TAXES, FEES AND COSTS

Donee shall be responsible for all taxes, title fees, registration fees, and any other governmental charges or expenses associated with the transfer and registration of the Vehicle unless otherwise required by applicable law. Donor shall provide to Donee such documents reasonably necessary to support any tax reporting required by applicable law.

7. DELIVERY; RISK OF LOSS

Unless otherwise agreed in writing, Donor shall deliver the Vehicle and the executed title to Donee on or before the Effective Date at Donor's address or such other location as the parties may agree. Risk of loss or damage to the Vehicle shall pass to Donee upon delivery of physical possession of the Vehicle to Donee.

8. INDEMNIFICATION

Donor and Donee each agree to indemnify, defend and hold harmless the other party from and against any and all claims, liabilities, losses, damages, costs and expenses (including reasonable attorneys' fees) arising out of any breach of the representations, warranties or covenants made by such party in this Agreement or arising from acts or omissions occurring prior to or after the Effective Date, to the extent caused by the indemnifying party's acts or omissions.

9. NOTICES

All notices, requests, consents and other communications required or permitted under this Agreement must be in writing and delivered to the parties at the addresses set forth below (or to such other address as a party may designate by notice).

10. GOVERNING LAW; VENUE

This Agreement shall be governed by and construed in accordance with the laws of the state specified below without regard to its conflict of laws principles. The parties submit to the exclusive jurisdiction of the courts located in that state for the resolution of disputes arising under this Agreement.

Governing Law State:

11. ENTIRE AGREEMENT; SEVERABILITY

This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral. If any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect, the remaining provisions shall remain in full force and effect.

12. AMENDMENT; WAIVER; COUNTERPARTS

This Agreement may be amended or modified only by a written instrument executed by both parties. No failure or delay by either party in exercising any right under this Agreement shall constitute a waiver of that right. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one agreement.

13. ADDITIONAL ACKNOWLEDGMENTS

The parties acknowledge that they have read this Agreement, understand its terms, and execute it voluntarily and with full authority. Donor acknowledges that the gift is not induced by any undue influence or fraud.

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