FYI regarding DMV
Just wanted to share experience with DMV in Virginia and suggest that you might want to check your state for their actual rules on sale of vehicle.
In Virginia you can title your vehicle either with "and" or "or" when it is put in two names.
Until today, the understanding was that if "and", both parties listed had to sign the title to sell it, and that if it was "or" only one party needed to sign. Apparently that is not the case.
In either case, both parties must sign the title for sale. The "and/or" apparently only has a different meaning on the death of one party. The "or" then means that the surviving party becomes the sole owner. The "and" means that half of the sale price goes to the estate on the one who died and the other half goes to the survivor.
Good thing a DPOA is in place, otherwise would not be able to sell the extra vehicle.
I have no idea if the "odd" rule applies to deeds for homes or not.
This appears to be a state by state thing, since person at DMV in North Carolina says their's works differently with the "and/or".
Comments
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Car titles are purely statutory and have nothing useful to do with property ownership
Real property is an incredibly complex topic which most lawyers found very boring in law school
The basic rues are simple We bought a house with my in laws using all three types of co- ownership
Crushed and Wonder Woman Have a One half interest as tenants by the entireties which they hold as Tenants in common with a One half interest owned as joint tenants with right of survivorship by Wonder Woman's Dad and Wonder Woman's mom
Neither Wonder woman nor crushed could transfer any interest alone even with a court order
Wonder woman"s mom or dad could bring a legal action to sever the joint tenancy with one another if they wished to act alone
Either couple could sell their half interest acting together without the others permission
If anyone died the survivor inherited their half interest but neither inherited from the other couple.
Legal shorthand Entireties Each own the whole but no part
Joint tenants with right of survivorship Each own the whole and the part
Tenants in common Own the part, not the whole
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I used the link provided by Victoria2020 and tried it for AZ. It didn’t work. But I did sell my car last summer. The title was with an “or”. They only needed one signature. And now we are a one car family.
Thanks for posting your experience, I never would have guessed…
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