The insurance company pays only the title fee. Stolen and Unrecovered Vehicles, Titled to Insurance CompanyThe Motor Vehicle Division will issue a title only Certificate of Title to an insurance company for a stolen and unrecovered vehicle.The Title Application should specify in the “Remarks” field “Vehicle to be traded-in.” Vehicles to be Traded-InA vehicle that is received as a gift, which the new owner wishes to trade in on another vehicle, may be titled with a title only transaction.Once the vehicle is made operable, the applicant may register the vehicle, upon affirming insurance and payment of the registration fee. The applicant pays the title fee and the excise tax. Inoperable VehiclesAn inoperable vehicle purchased for reconstruction or rebuilding, mechanical or otherwise, and which the buyer does not intend to operate for an extended period of time, may be titled through a title only transaction.Vehicles transferred to Nonresidents (§66-3-10)Whenever a vehicle owner transfers the vehicle to a nonresident who wishes to title the vehicle in the nonresident’s state of residence, the division upon receiving application and the payment of the proper fee shall issue a Certificate of Title only and record on the certificate all liens and encumbrances.Registration fees and excise tax are not collected. In these cases the dealer may obtain a title. However, a dealer may have a title with various assignments which prevents him from assigning the title to a buyer, or may want to provide a clean title to the buyer. Isolated Cases Involving DealersWhen the transferee of a vehicle is a dealer who holds the vehicle for resale and does not drive the vehicle or permit it to be driven upon the highways, the dealer shall not be required to obtain transfer of registration of the vehicle or forward the certificate of title to the department.The Title Application should specify in the “Remarks” field: “For dealer re-sale only.” However, they are not required to pay the excise tax.
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