The legal basis for co-ownership can be established in two ways. The CoPilot app will notify you if there’s a similar vehicle in your area at a better price, so you’re always certain you got the best deal available. You don’t want to buy a car - you want to get the best deal on the car you’re looking for.
For example, if you share with a non-family member, like a coworker or a neighbor, many insurance providers will decide not to add non-relatives to existing policies. When you decide to share a car with someone who isn’t a relative, this is where the trickiness can come into play. It’s easy to share a car with a family member, and when it just takes adding someone to the existing owner’s insurance, it’s not a colossal hoop to jump through. One of the most common reasons for joint ownership of a car simply comes down to household use. What Does it Mean to be a Co-owner and Why Should You Share? Joint ownership of a car has its pros and cons, but it makes no difference whether just one of the owners is listed on the car’s insurance or registration for administrative purposes. In the case of a car, the title lists both the owner and the co-owner together as equal owners. The sellers' DMV should provide temporary registration.A co-owner is a person who shares ownership of an asset with another person. Transit tags are unavailable for Kentucky citizens to move out-of-state vehicle purchases back to the Commonwealth. Dealers can issue a second temporary tag for not submitting the required paperwork promptly as required for the customer. The tag can be obtained in Frankfort via mail or in person. The tag costs $5.00 and is valid for fifteen days. The purchased vehicle cannot be eligible to title/register in our state.
Applicants for the transit tag cannot reside in Kentucky. If an individual from another state purchases a Kentucky vehicle and wants to relocate it to their home jurisdiction, they may purchase a transit tag from the Motor Vehicle Licensing Division. The office will return all Title Lien documents and/or payments the Kentucky Transportation Cabinet received to the sender. A County Clerk may request the title from the lien holder. Title Lien Statements must be submitted to the County Clerk's office, where the Clerk will process the Title and Registration.
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