(1) If the purchaser or transferee is a dealer he or she shall, on selling, leasing, or otherwise disposing of the vehicle, promptly execute the assignment and warranty of title, in such form as the director shall prescribe.

Terms Used In Washington Code 46.70.122

  • Department: means the department of licensing, which shall administer and enforce the provisions of this chapter. See Washington Code 46.70.011
  • Director: means the director of licensing. See Washington Code 46.70.011
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Vehicle: means and includes every device capable of being moved upon a public highway and in, upon, or by which any persons or property is or may be transported or drawn upon a public highway, excepting devices moved by human or animal power or used exclusively upon stationary rails or tracks. See Washington Code 46.70.011
(2) The assignment and warranty shall show any secured party holding a security interest created or reserved at the time of resale or lease, to which shall be attached the assigned certificate of title and registration certificate received by the dealer. The dealer shall mail or deliver them to the department with the transferee’s application for the issuance of new certificate of title and registration certificate. The certificate of title issued for a vehicle possessed by a dealer and subject to a security interest shall be delivered to the secured party who upon request of the dealer’s transferee shall, unless the transfer was a breach of the security agreement, either deliver the certificate to the transferee for transmission to the department, or upon receipt from the transferee of the owner’s bill of sale or sale document, the transferee’s application for a new certificate and the required fee, mail or deliver to the department. Failure of a dealer to deliver the certificate of title to the secured party does not affect perfection of the security interest.
[ 2010 c 161 § 1133; 2001 c 272 § 8; 1990 c 238 § 5; 1975 c 25 § 11; 1972 ex.s. c 99 § 3; 1967 c 140 § 2; 1961 c 12 § 46.12.120. Prior: 1959 c 166 § 10; prior: 1947 c 164 § 4(c); 1937 c 188 § 6(c); Rem. Supp. 1947 § 6312-6(c). Formerly RCW 46.12.120.]

NOTES:

Effective date—Intent—Legislation to reconcile chapter 161, Laws of 2010 and other amendments made during the 2010 legislative session—2010 c 161: See notes following RCW 46.04.013.
Effective date, implementation—1990 c 238: See note following RCW 46.12.530.
Effective date—1967 c 140: See note following RCW 46.12.520.
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