Designate a portion to each title.Hey y'all.
Say you sell a boat and trailer for $5000, what amount do you put on each title?
Thanks!
The risk is they may assign a book value if the suspect this occurred…Just put 50 bucks on each as we are over taxed here in indiana
I ran into this with a home made 4 X 8 foot open utility trailer. It used VW rabbit car wheels and had lights. The bed was scrap bed frames and fence posts. It could haul a rider mower or a few bags of mulch.The risk is they may assign a book value if the suspect this occurred…
EASY,Hey y'all.
Say you sell a boat and trailer for $5000, what amount do you put on each title?
Thanks!
Everything is book value now. Bought 2 new vechiles since 2018 they were assigned book value. Not what I paid. All watercraft are taxed based off msrp when new. Doesn't matter what you put.The risk is they may assign a book value if the suspect this occurred…
Everything is book value now. Bought 2 new vechiles since 2018 they were assigned book value. Not what I paid. All watercraft are taxed based off msrp when new. Doesn't matter what you put.
Watercraft Fees & Taxes
www.in.gov
*Watercraft values are the Manufacturers Suggested Retail Price (MSRP) when the watercraft was new
I bought a boat out of state and had the owner sign a POA specific for the boat purchase. Went in BMV and they said a signature was missing, went out to the truck, signed it went back in and got it done. Anyone ever do a POA? Particularly on an out of state purchase?
With out of state purchases most of us do not know everything the BMV may require so the POA allows you the purchaser to sign what is needed without tracking down the seller. Makes things easier.Poa- power of attorney? I've never needed that. But if you buy something from a state such as IL that doesn't have a purchase price spot on the title you will need a bill of sale stating the price so you can be charged sales tax. In indiana you don't need a bill of sale. However, if you are the seller its a good idea to have one signed in case you need to prove you sold the item. It might come in handy if you sell a vehicle and the purchaser never title or register it and crashes into something.
With out of state purchases most of us do not know everything the BMV may require so the POA allows you the purchaser to sign what is needed without tracking down the seller. Makes things easier.
My guess is most of INGO would not, I probably would not either. BUT, I will take one. LOLI never thought of that. Makes alot of sense.
Yes. Purchased cabin cruiser in Ohio. The seller recommended the POA. Easy peasy at the BMV. The trailer was a little trickier. Ohio didn't require a title for trailer. Indiana did. Once the BMV confirmed OH didn't title trailers they were cool with applying for IN title. As for titles in general, as a seller, I often leave the price blank. I usually get the same courtesy when buying from private seller. I know, I know....I bought a boat out of state and had the owner sign a POA specific for the boat purchase. Went in BMV and they said a signature was missing, went out to the truck, signed it went back in and got it done. Anyone ever do a POA? Particularly on an out of state purchase?