There could be hundreds of different scenarios of why one would need to obtain a duplicate or replacement title. The most common reasons are due to losing or misplacing the title, damaged/washed/burned, clerical mishaps due to incorrect signatures, erasures, strike throughs and using the ever hated white out. While an affidavit can hopefully correct the errors with signed and notarized affidavits, erasures and whiteout will definitely VOID the title and a replacement/duplicate must be obtained. Entering the incorrect mileage on the back of the title is also a huge factor as well for a reason of a duplicate being needed. A buyer does not want an odometer discrepancy noted on their title!
The most inconvenient part of needing a duplicate title, is when the person is trying to sell or trade the vehicle which cannot be done without the title. In the event of a divorce or a death, a title is still needed along with other court documents and this may cause even more issues with securing a duplicate. It is best to deal directly with the local DMV or a well educated title service in this matter.
Several states offer an expedited service to secure the duplicate more quickly, while other states do not offer such, a title service may be of assistance. The title service may have the capability of “walking-through” your duplicate application to the DMV, which would also require the title holder to give power of attorney to the title runner to physically receive the title in hand from the DMV.
As for value ramification, with today's market being extremely fast paced and now thousands of sellers turning to online markets, it would be immensely important to be sure to have the title free, clear and in the seller’s name before listing the vehicle for sale. The quick turn-around for a duplicate title is not always as easy as hoped for and the price offered for the vehicle is usually only good 3 to 5 days before needing to be repriced. Be prepared before you sell! Be sure the title is in your name, the lien has been released (if one was filed) either on the title or with a lien release from the lender and do not complete any signatures or assignments until instructed by a DMV agent or a knowledgeable title service. Get the most for your vehicle at the time with proper and good to go documents.
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