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You are required to sign over the title to that person, and the same goes for someone who gifts you a car. Make sure the seller uses the word GIFT as the purchase price when filling out the back of the title.
Transferring car ownership online Youll need to provide details of the new owner and the 11-digit reference number from your vehicles V5C logbook. Once you have completed the form, you should receive an email confirmation (and so will the new owner, so long as you have provided their address).
In New Jersey, a bill of sale is required if youre buying a motor vehicle or boat. You can use a template provided by a professional document management service like docHub or you can draft your own.
Get a Notary Notarizing a bill of sale is not required, but its a good practice in general. Having a state authority witness the signing over of ownership makes the transaction more official and can be useful legally.
Gift: If the vehicle is a gift, the sales price must be noted as GIFT. If the information appears to be changed or altered, additional documentation may be required by the Motor Vehicle Commission.
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People also ask

What paperwork do I need to privately sell a car in New Jersey? A Bill of Sale (although not legally required) Current maintenance and vehicle records. The vehicles original or replacement certificate of title.
If the fair market vehicle of your car is $22,000, you may need to file the gift tax return for the additional $5,000. In essence, selling the car for $1, given its value, would also be considered a gift.
Visit a motor vehicle agency to transfer the title, complete the Vehicle Registration Application (Form BA-49) if applicable, and receive the license plates. To avoid a $25 penalty, New Jersey or dealer reassigned titles must be transferred within 10 working days from the date of sale.

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