§ 31-3.1-12 - Transfer.
SECTION 31-3.1-12
§ 31-3.1-12 Transfer. – (a) If the owner transfers his or her interest in a vehicle, other than by thecreation of a security interest, he or she shall, at the time of the deliveryof the vehicle, execute an assignment and warranty of title to the transfereein the space provided for it on the certificate or as the division of motorvehicles prescribes, and cause the certificate and assignment to be mailed ordelivered to the transferee or to the division of motor vehicles.
(b) Except as provided in § 31-3.1-13, the transfereeshall, promptly after delivery to him or her of the vehicle, execute theapplication for a new certificate of title in the space provided for it on thecertificate or as the division of motor vehicles prescribes, and cause thecertificate and application to be mailed or delivered to the division of motorvehicles.
(c) Upon request of the owner or transferee, a lienholder inpossession of the certificate of title shall, unless the transfer was a breachof his or her security agreement, either deliver the certificate to thetransferee for delivery to the division of motor vehicles or upon receipt fromthe transferee of the owner's assignment, the transferee's application for anew certificate, the registration card, license plates and the required fee offifty dollars ($50.00), mail or deliver them to the division of motor vehicles.The delivery of the certificate does not affect the rights of the lienholderunder his or her security agreement.
(d) If a security interest is reserved or created at the timeof the transfer, the certificate of title shall be retained by or delivered tothe person who becomes the lienholder, and the parties shall comply with theprovisions of § 31-3.1-20.
(e) Except as provided in § 31-3.1-13 and as between theparties, a transfer by an owner is not effective until the provisions of thissection and § 31-3.1-15, have been complied with. However, an owner whohas delivered possession of the vehicle to the transferee and has complied withthe provisions of this section and § 31-3.1-15, requiring action by him orher, is not liable as owner for any subsequent damages resulting from operationof the vehicle.
(f) The administrator of the division of motor vehicles shallprescribe and/or approve a power-of-attorney form which complies with §408(d)(1)(C) of the Motor Vehicle Information and Cost Savings Act, 49 U.S.C.§ 32705(b)(2), as amended, and any regulations promulgated pursuant to it,and this form may be used in connection with transfers of title under thissection to the full extent permitted by federal law.