News & Notes
MEMBER ALERT - Major Change to Title Process
TxDMV recently made two major announcements with regard to the title transfer process for dealers.
First, the state is re-iterating its position that the white POA, also known as VTR 271, is not appropriate for dealer transactions. The state has issued a new version of the VTR 271; however, neither the old nor the new version of the VTR 271 may be used in dealer transactions.
Second, at the urging of TIADA, the state has decided to allow the use of a secure dealer reassignment form (VTR 41-A) even when all the dealer reassignment spaces have not been used on the original title. TIADA believes this is an enormous win for the industry, as it negates the need for a POA when title is not present at closing. READ MORE.
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Since 1944, the Texas Independent Automobile Dealers Association has represented the most successful used car dealers in Texas. TIADA offers our members prompt and professional legal assistance, up-to-date industry information and the highest quality services to help you continue to grow and succeed as an independent auto dealer.
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