SECTION 710:60-5-71. General provisions; assignments; liens; registration; notice of transfer

(a)   Transfer of title. In most instances, an Oklahoma transfer title is issued upon receipt of a properly assigned and notarized Oklahoma title and proof of liability insurance. Assignments of Oklahoma certificates of title to, or by, out-of-state dealers located in non-notary states are not required to be notarized. No notarization is required on an assignment of ownership to an insurer resulting from the settlement of a total loss claim. Other instances where a transfer title may be issued are covered in the following subsections.

(b)   Use of assignment space provided on title document. The first assignment space on an Oklahoma title is to be used by the owner on the face of the title to assign ownership. The subsequent reassignment spaces may be used by appropriately licensed Oklahoma dealers only. Retail implement dealers may reassign ownership on Oklahoma certificates of title for all-terrain vehicles, utility vehicles and off-road motorcycles. Should an assigned Oklahoma certificate of title be presented in application for an Oklahoma title and that certificate reflects a previous ownership assignment that was never completed via issuance of an Oklahoma title, the Motor Vehicle Division may approve a certificate of title to be issued directly to the most recent assignee; provided both assignments are properly completed and all taxes, fees and delinquent penalties due in regard to the previous assignment are collected, in addition to those due on the most recent assignment.

(c)   Liens transfer. Any active liens indicated on the face of an assigned Oklahoma title will be carried forward to the transfer title being issued unless a lien release is presented.

(d)   Current registration required; exceptions. Registration must be current on a vehicle before a transfer title may be issued, unless the vehicle is in a salvage or junked status. Licensed used motor vehicle dealers are exempt from this requirement when transferring to other licensed dealers, provided the vehicle was currently registered, or in the registration expiration grace month, when it was assigned to the first dealer. Salvage dealers are exempt from registration requirements when obtaining salvage or junked titles.

(e)   Actual sales price documentation. The actual sales price is required for any vehicle on which an Oklahoma title is to be issued and excise tax and/or sales tax collected. The actual sales price is commonly referred to as the "purchase price". One of the following documents is required to establish the actual sales price:

(1)   A purchase contract;

(2)   A bill of sale;

(3)   A "Declaration of Vehicle Purchase Price"; or

(4)   Oklahoma title certificate, with a purchase price entry listing where indicated;

(5)   A purchase contract or bill of sale offered only to establish purchase price pursuant to this subsection, and not to convey ownership, need not be notarized.

(f)   Notice of Transfer of Ownership of a Vehicle. The seller or buyer of a motor vehicle may file a Notice of Transfer of Ownership of a Vehicle to record the assignment of ownership in the Oklahoma Tax Commission Motor Vehicle Division computer system. The filing of Notices of Transfer is optional. The filing of the Notice of Transfer does not constitute a transfer of ownership and does not alleviate the buyer/new owner of the responsibility of properly and timely transferring title and paying all applicable taxes and fees. To be acceptable, notices must be submitted containing all required information. Incomplete forms will not be filed. There are two (2) acceptable types of notice:

(1)   Seller or buyers may submit a Notice of Transfer of Ownership of a Vehicle and the appropriate statutory filing fee to the Oklahoma Tax Commission or a motor license agent.

(2)   Effective January 2006, a removable tear-off tab, Oklahoma Certificate of Title Tear-Off Notice of Transfer Tab, was incorporated on Oklahoma vehicle title certificates. This tab, properly completed, is to be accepted and processed in the same manner as the Notice of Transfer of Ownership of a Vehicle Form.

[Source: Added at 8 Ok Reg 3305, eff 7-8-91 (emergency); Added at 9 Ok Reg 2151, eff 6-12-92; Amended at 18 Ok Reg 878, eff 2-23-01 (emergency); Amended at 18 Ok Reg 1340, eff 5-11-01; Amended at 23 Ok Reg 2837, eff 6-25-06; Amended at 24 Ok Reg 2375, eff 6-25-07; Amended at 27 Ok Reg 2293, eff 7-11-10; Amended at 30 Ok Reg 1861, eff 7-11-13; Amended at 32 Ok Reg 1363, eff 8-27-15; Amended at 33 Ok Reg 1081, eff 8-25-16; Amended at 35 Ok Reg 2085, eff 9-14-18]