non registered ATV sale questions for buyer with a loan

[Geno C]

OK i have a question and was wondering if anyone has been there done that. I have a buyer who wants to take a loan out and has everything he needs to acquire the loan except the fact i paid cash for the bike and never registered it there for never paid sales tax. i only rode it around my house on my private property. His bank is requiring me to fill out 2 forms : MV-51 and MV-51b         one is a statement of ownership for a non registered or titled boat,wheeler, snowmobile and the other is a cert of sale or transfer of a non titled vehicle. Now the part that scares me is since i paid cash and never had the need to register it  by filling out the forms basically says that and i dont want DMV or the state to come hounding me for their sales tax money.

 

what should i do? im not hard up for the sale so i dont need to go through with it... Its taking up more time then anything right now when i could be doing other stuff. id rather sell for cash and let someone enjoy it without having to worry about all of this stuff with the DMV..

[ants]

If there is no spot on the forms, asking what you paid in taxes on it I wouldn't worry about it. The DMV probably assumes that you paid the taxes. Dmv is not the IRS. I wouldn't sweat it. 

[Culvercreek hunt club]

did you buy it from a dealer?

[WNYBuckHunter]

You should still have a title for it. Ive sold non registered vehicles before, and as long as you have a title, it proves your ownership, and therefore no other paperwork was needed other than the one form for the title transfer.

 

Dont worry about the DMV, if you never registered it, theres nothing they can come back on you about.

[Culvercreek hunt club]

You should still have a title for it. Ive sold non registered vehicles before, and as long as you have a title, it proves your ownership, and therefore no other paperwork was needed other than the one form for the title transfer.

You sure you had a title for your wheeler?

[Geno C]

no theres no spots on the forms asking what i paid but i dont want them to say well the buyer paid this much the seller must have paid more.

 

yeah WNY , i have never registered an ATV... usually always cash deals now a days. i never had many wheelers tho only like 2 others.

[Geno C]

You should still have a title for it. Ive sold non registered vehicles before, and as long as you have a title, it proves your ownership, and therefore no other paperwork was needed other than the one form for the title transfer.

 

Dont worry about the DMV, if you never registered it, theres nothing they can come back on you about.

 

 

were your deals cash or loan?

[Perchlake]

The title for the 4 wheel is considered a certificate of origin if you have this you dont need anything else to sell just fill out a bill of sale and hand him the certificate of origin and its a done deal

[WNYBuckHunter]

You sure you had a title for your wheeler?

 

Yep. It had been registered previously though, so Im not sure if thats where the title came from. Ive never bought one new, so Im not sure if they come with them from a dealer.

[bubba]

I thought the registration was the title with a 4 wheeler.  When I got mine that was all I needed to go to DMV to transfer it. 

[WNYBuckHunter]

were your deals cash or loan?

 

cash, but it doesnt matter, DMV cant back charge you for anything.

 

Didnt the dealer charge you sales tax regardless, or did you buy it out of state?

[Geno C]

instate from a private person, retired cop friend of the family

[WNYBuckHunter]

Hmmmm. Heres what I found on the DMV site...

 

If the ATV is transferred by a private individual, acceptable proof of ownership is

• a New York State or out-of-state transferable registration or title certificate signed by the previous owner to transfer ownership to you
• if the current owner did not register the ATV, a transferrable registration and bill of sale that transferred ownership to the current owner, and a bill of sale that transfers ownership to you.

http://dmv.ny.gov/node/1978

 

 

Bubba, did yours come with a registration from the dealer?

[hunter49]

Hmmmm. Heres what I found on the DMV site...

 

If the ATV is transferred by a private individual, acceptable proof of ownership is

• a New York State or out-of-state transferable registration or title certificate signed by the previous owner to transfer ownership to you
• if the current owner did not register the ATV, a transferrable registration and bill of sale that transferred ownership to the current owner, and a bill of sale that transfers ownership to you.

http://dmv.ny.gov/node/1978

 

 

Bubba, did yours come with a registration from the dealer?

    I  had all the right paper work & when I registered it I had to pay the sales tax.  Was no problem, just pricey!(good old N.Y. state!)

[hunter]

I thought if it was a farm vehicle it was exempt from sales tax.

[ants]

I went through this years ago, when I bought a boat from a guy. He had zero paper work. We both went down to the DMV, he and I filled out  forms, I payed the tax and reg. fees and the seller paid zero. I don't recall them asking anything about him paying taxes when he bought the boat…. I think you're fine.

[Perchlake]

If the bike was bought new and never registered then you should have a certifacate of origin if you didnt buy it new and the old owner had it reg then you should have a tranferable registration which acts like a title

[Culvercreek hunt club]

If the bike was bought new and never registered then you should have a certifacate of origin if you didnt buy it new and the old owner had it reg then you should have a tranferable registration which acts like a title

but what if you bought it used from an owner that did not register it.

[Perchlake]

If the person you bought it from bought it new and never registered it then he should have a certificate of origin another words if the bike was bought new and nobody ever registered it then there should be a certificate of orgin (title) if the bike was reg at some point in its life then there will be a transferable registration which acts like a title