can a mother gift a car to her son?
- Anonymous1 month ago
The car can be transferred with no taxes paid.
- EdnaLv 71 month ago
Yes -- your mother (or anyone else) can "give" you a car or sell it to you for $1. But, if you want to be the legal owner of the car, your mother must possess a clear Title to the car and she must sign-off on the Title, and hand the Title to you. After you have the signed-off Title, you must insure the car in your name, and then take the Title and proof of insurance and register the car in your name.
Until the car is registered with the State in your name, your mother will remain the registered and legal owner of the car. The car won't belong to you; it will belong to your mother. You can't sell the car and you can't trade it in.
- Jay PLv 71 month ago
Of course...anyone can gift a car to any other person.
Now if your question is really about paying tax on this when transferring ownership, that's an entirely different question and that would depend on the laws where you live. Yahoo is universal. Tax laws vary wildly.
- roderick_youngLv 71 month ago
Certainly. I'm assuming that you are asking whether she can transfer a car that she already owns to her son, not pay for a new car and get it registered in her son's name.
In states like California, a transfer within immediate family is exempt from Use Tax. That's not the case in all states. There will be some small fees for the transfer, and insurance will need to be updated.
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- 1 month ago
No, vehicles can only be gifted to the same sex as the owner, females to females, males to males.
- Anonymous2 months ago
I don't see why not. She'd need the title.
- UserLv 72 months ago
In the U.S.
Because there is no sale there is no sales tax. (One could say that the selling price is zero dollars, but in reality there is no sale.)
It also does NOT count as income for the recipient.
- though the recipient may have to pay inheritance tax when the gift-giver passes away
Likely the recipient WILL have to pay annual property tax on the (actual, assessed) value of the car.
Of course there will be relatively small fees associated with transfer of the title, and either transferring tags or acquiring new tags (vehicle registration).
- Anonymous2 months ago
Of course she can.
- queen bryLv 72 months ago
If she has the means, sure.
- regeruggedLv 72 months ago
Yes. But they would have to treat it as a sale. Pay title transfer fees and sales tax based on the value of the vehicle.