Getting a car from parents in texas?
What do I have to do in order for the car to be under mind. And how much would it cost.
- 8 years agoFavorite Answer
This is from the Texas DMV site below:
What steps should I follow to give a vehicle as a gift to a friend or relative?
Please give the recipient your (signed) negotiable title and request that the recipient complete a title application (form VTR 130-U), which must be provided to their county tax office.
Effective immediately, when a motor vehicle is transferred as a result of a gift, the title application must be accompanied by the Texas Comptroller of Public Accounts Form 14-317, Affidavit of Motor Vehicle Gift Transfer, and must be filed in person by recipient or donor. The donor and recipient must both sign the affidavit and title application. The "$10 Gift Tax" only applies to a person who receives the vehicle from a:
○ Parent or Stepparent
○ Grandparent or Grandchild
○ Child or Stepchild
○ A decedent’s estate
○ A vehicle donated to or given by a Nonprofit IRC Sec. 501(c)(3)
On the title application, the recipient who qualifies should check the "$10 Gift Tax - Affidavit required. Use Comptroller Form 14-317." box found in Section 21. The recipient will have to provide proof of auto insurance at the county tax office to register the vehicle.Source(s): http://www.txdmv.gov/vehicles/titles/faq.htm