I'm probably going to pass my truck on to my brother in the near future. I want to get the title in his name (currently in my possesion, not a bank's) to avoid any liability issues. Anyone know what the deal with this is in Texas? Can I "gift" the vehicle to him and get a new title without him having to pay taxes on it?

 

Here's the form you need.

ftp://ftp.dot.state.tx.us/pub/txdot-...orms/130-u.pdf

Your brother would only need to pay a $10 Gift Tax.

 

In MA you pay a tax on the vehicle no matter what. The tax on whatever is higher ; what you payed for it, or the current value. I'm sure that Texas and every other state for that matter does it the same way.

 

OK then i take that back

 

Thanks. I've got the form, just wanted to make sure I wasn't missing something.

 

In Wisconsin you can "sell" it for 1 dollar and pay virtually no tax. I did that when I got my S2K for my old Grand Prix to my mom.