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SB 780 - Currently, an assigned certificate of ownership is required to be delivered to the buyer of a motor vehicle at the time of sale. This act specifies that where the seller is a licensed motor vehicle dealer, persons buying motor vehicles or trailers in this state may agree in writing to delivery of the vehicle's certificate of ownership up to 60 days after the time the vehicle is delivered. The act further provides that the sale of any motor vehicle or trailer without assigning the certificate of ownership shall be "voidable" rather than "fraudulent and void". (Section 301.210) This act modifies the definition of "owner" of a vehicle to include a person who has executed a buyer's order or retail installment sales contract with a licensed motor vehicle dealer when there is an immediate right for the buyer to possess the vehicle. (Section 301.010(44)) Under the act, when a buyer and motor vehicle dealer have agreed in writing that the vehicle's title will be transferred at a time other than upon delivery of the vehicle, the buyer shall apply to the Department of Revenue to title the vehicle within 30 days of acquiring the title, but not more than 60 days after acquiring the vehicle. (Section 301.190.1). The act similarly amends provisions requiring the Department of Revenue to notify transferees to apply for title. (Section 301.197.2) This act provides that dealers shall not be required to possess a certificate of ownership, nor proof of application for a certificate of ownership, in the case of vehicles held by a dealer for standard resale. (Section 301.200.1) ERIC VANDER WEERD
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