If a person who has been issued special plates pursuant to this article sells, trades or otherwise releases ownership of the vehicle to which the special plates have been assigned, the person may relinquish the plates to the new owner of the vehicle. On relinquishing the special plates, the person releases priority to the letters, numbers or combination of letters and numbers that is displayed on the special plates in the manner prescribed by the director. The person to whom the special plates are relinquished shall apply to the department for issuance of the special plates to that person.