DMV/VERIFI Tip of the Week, #122
Date: 1/29/2025
Proof of Ownership Requirements
Pursuant to Regulation 78.25(b), dealers must maintain proof of ownership of all vehicles transferred to such dealer as long as they remain the property of the dealer at their registered place of business. The practice of allowing floor plan entities to retain possession of original proofs of ownership is not permitted.
DMV will begin including this in dealer audit procedure on June 1, 2025.
Please share this information with all appropriate staff. Thank you.
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