Whether you’re brand new to the titled equipment side of the brokerage business or have been titling VIN equipment for years, it’s easy to make a tiny mistake that prevents your Certificate of Title transfer from reaching completion. We’ve all been there! Agencies like the Department of Motor Vehicles (DMV), Department of Licensing (DOL), Department of Revenue (DOR), and Department of Transportation (DOT) are insanely picky about their paperwork. To avoid pulling your hair out over your state agency’s obscure rules, look out for the common mistakes below.* 6 Common Titling Mistakes for VIN Equipment And How to Avoid Them
Tasty Bruschetta Chicken
Inspired by Delish.com
INGREDIENTS
• 4 boneless and skinless chicken breasts, pounded to even thickness • 4 tbsp olive oil • 2 tbsp lemon juice, divided • 1/4 tsp pepper
• 1 tsp Italian seasoning • 3 tomatoes, chopped • 2 cloves garlic, minced • 1 tbsp fresh basil, chopped • Salt and pepper, to taste • 4 slices mozzarella cheese • Parmesan cheese, grated
DIRECTIONS
1. Add chicken to a large resealable bag. 2. In a small bowl, combine olive oil, 1 tbsp lemon juice, pepper, and Italian seasoning. Pour over chicken and seal. Refrigerate for 30 minutes. 3. Turn a grill to medium-high heat and add the chicken. Discard the marinade. Grill chicken 5–7 minutes per side or until fully cooked. 4. Combine the remaining lemon juice, tomatoes, garlic, and basil. Add salt and pepper, to taste. 5. Before taking the chicken off the grill, top each breast with a slice of mozzarella cheese. Cover and cook 2–3 minutes, then serve topped with the tomato mixture and grated Parmesan cheese.
1. Failing to get the original title or certificate of origin (MSO).
2. Neglecting to get an original signature from the previous owner of used equipment on the title relinquishing their ownership.
3. Forgetting to include the company name, signature, and title of the individual in the previous owner signoff. (This especially applies if the previous owner was a company.)
Will We See You There?
4. Failing to list the lessee, lessor, and/or lienholder correctly and in the correct spot on the form.
This is an exciting summer and fall for CHB! We have several industry and company events coming up, and we’re looking forward to seeing our broker associates and making new acquaintances. 2022 Broker Weekend (Jackson, Wyoming) Aug. 26–28, 2022 This invitation-only CHB retreat will include options for fishing, golfing, hiking, climbing, shooting, and sightseeing in the majestic beauty of the Wyoming mountains. We can’t wait to show you our home state. 2022 AACFB Commercial Financing Expo (Las Vegas) Sept. 7–8, 2022 Kit and Ed have both volunteered for industry association committees, and Kit is looking forward to visiting Las Vegas for this event! While he’s there, he plans to visit our broker associates’ offices for candid conversations about best practices and to discuss how we can work together to accelerate our businesses. 2022 NEFA Funding Symposium (Nashville) Nov. 2–4, 2022 NEFA is another organization CHB actively participates in. We’re excited to travel to their symposium to network with others and learn about the latest developments in the commercial equipment finance industry.
5. Incorrectly listing the new owner’s name on the title. In some states, even forgetting to include “Inc.” after the entity name can cause a big enough mismatch with the Commercial Motor Carrier Account to ruin your transaction. 6. Failing to provide required supporting documents like sales receipts, a bill of sale, proof of residency, insurance information, an odometer declaration, proof of sales tax paid, etc.
Above all, accuracy is essential! DMVs will even reject forms with sections that have been erased or whited out, or with tiny spelling errors. These are just a few of the many mistakes you could make in the titling process. To make absolutely sure you avoid titling issues, call our office and ask for help from one of our title professionals. They’re experts at processing titles for private party seller deals and deals that cross state lines. *Note: The titling process works differently state to state. These are general guidelines, but some states have extra hurdles like required emissions testing, notarization, or VIN inspections. For tips specific to your state, reach out to a CHB title professional today.
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