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PA Bulletin, Doc. No. 98-643

NOTICES

DEPARTMENT OF TRANSPORTATION

Duty of Issuing Agent to Verify Purchase Price of Vehicle at Time of Sale/Registration

[28 Pa.B. 1992]

Addendum

   The Department of Transportation, Bureau of Motor Vehicles, pursuant to the authority contained in the Act of April 17, 1997, P. L. 6, No. 3 (75 Pa.C.S. § 1318(d)), published at 27 Pa.B. 3286 (July 6, 1997), the manner by which issuing agents shall verify that the purchase price of a motor vehicle, as stated upon the application for certificate title and/or registration, approximates the fair market value of the motor vehicle.

   As provided in the notice appearing at 27 Pa.B. 3286 (July 6, 1997), the Department approved several nationally recognized publications which issuing agents may use to determine the fair market value of a motor vehicle.

   Further, the notice also prescribes the method for authenticating the fair market value when the purchase price, in certain circumstances, appearing on the application for title and/or registration is less than the appropriate, approved publication's stated retail value for the particular motor vehicle.

   As provided in the notice appearing at 27 Pa.B. 3286, the certificate of title/registration applicant and the seller shall, on a form provided by the Department, explain and attest before a notary public the reason why the purchase price is less than the appropriate, approved publication's stated retail value for the vehicle.

   Presently, the form in these instances required by the Department to be completed by both the applicant for title/registration and the seller is the Form MV3, ''Motor Vehicle Verification of Fair Market Value by the Issuing Agent.'' The Department, however, after review and discussion with issuing agents and other affected persons, has determined that completion of this form is not required for a new vehicle being sold to the first retail customer; for reconstructed vehicles, recovered theft vehicles, specially constructed vehicles, flood vehicles, or vehicles that were formerly police or taxi vehicles; for lease buyout vehicles by the lessee; or for vehicles transferred upon the death of owner(s).

   Moreover, as part of the Department's continuing commitment to review its procedures and make amendment to the same when it eliminates unnecessary or burdensome requirements, the Department has also determined that when the Form MV-3 is required and when the vehicle is purchased out-of-state, only the signature of the Pennsylvania purchaser/applicant is necessary on the form and not that of the out-of-state seller.

   Further information on the Department's procedures for verifying the purchase price of a vehicle at the time of sale/registration may be found at 27 Pa.B. 3286 (July 6, 1997).

   Questions, comments, or suggestions may be submitted to the new contact person: Randolph Swartz, Manager, Research & Support Operations Section, 1101 South Front Street, Riverfront Office Center, Third Floor, Harrisburg, Pennsylvania, 17104; (717) 787-9720.

BRADLEY L. MALLORY,   
Secretary

[Pa.B. Doc. No. 98-643. Filed for public inspection April 24, 1998, 9:00 a.m.]


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