Justapickup

I just sold a car to a buyer out of state. I'm about to mail the DMV the top part of the car's title (Release of Liability). Seller asked me to leave it blank, or if I wanted to put down a value, to write down an amount that's half the actual selling price. What are the consequences of me doing that? Will I get in any trouble? Thanks,

HondaRehab

He's doing this to save on taxes. No real consequences.

Terdburgler

sounds like they want to get out of paying some taxes for the full price of the car. I don't know if you'll be in trouble. Hopefully someone else knows more. GL man

Vanishing Point

Just leave it blank. He will have to declare the purchase price in his home state's tax office/DMV.

Justapickup

I was gonna leave it blank for him. But then I saw this statement on the form "Warning: If you provide incomplete, inaccurate, or unclear information, the information shall not be updated or retained."

So, if DMV doesn't update the information that I no longer own the car, then I might be still on the hook if something happens with it?
Thanks,

NuncoStr8

If you don't mind being a party to tax fraud, do whatever the buyer requests.

UnkieTrunkie

EastS2k

half is way too much, if you really want knock off like 10-15% of selling price but that's as far as you should go. Don't leave it blank, cause it can come back to you if he puts a really low number.

Miasma

Leave it blank and state that it is the buyer's responsibility to complete the form. I may or may not have done this several times because f**k paying taxes on something that has already been taxed. Just doesn't seem fair to me.

Also, what would they be able to do that you could get in trouble for if you no longer have the car registered or insured under your name?

Edit: I have never dealt with anyone out of state so we usually take care of this detail at the time of sale when we can both see what we're doing. Just don't take any unnecessary risks.

mosesbotbol

He's the one paying the tax, not you. No worries. The only time it would matter is if you are selling for a loss and the car is a business tool or something...