Quote:
Originally Posted by Lee Stewart
Are you sure about that? The Bill of Sale, a legal document, signed by the Buyer and Seller, transfers ownership of the vehicle.
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I believe the Illinois Department of revenue would frown upon it. When a car is sold on a Bill of Sale, there is no record of it with the Secretary Of State that there was a Sale, resulting in no Sales tax being paid to the Department of Revenue. They call it "Jumping a Title" as far as I know, Illegal in all States. And you also can not legally insure a vehicle unless it is in your name. If you do and there is a complete loss, the insurance company will not pay out. This happened to my old Boss when his Son totaled a pickup that was titled in his Son's name and insured on the Company's insurance policy.
Bill