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You must complete a TR-1 application and Use Tax Exemption Certificate. These forms are available on our website www.dmv.ri.gov. You must also write a letter gifting yourself the plates that you want to keep.
The gift letter should describe the vehicle that is being gifted. Example: \u201cI, (your name), gift to my friend, (friend's name), the following vehicle: Year, Make, Model and VIN.\u201d The gift letter will need to be notarized, since your friend is not considered immediate family per the R.I. Division of Taxation.
On the bill of sale template, where the dollar amount is listed, write \u201cgift\u201d in the allotted space. You'll need to note the date of sale, the car's identification number, make, model and the number of miles on the odometer at the time of the transfer.
RI Dealer: 20 calendar days from date on bill of sale. RIGL 31-4-3. Out-of-state Dealer: 72 hours from date on bill of sale.
How to gift a car Pay off your car loan. ... Think about the giftee's financial situation. ... Make sure you can afford to pay gift tax. ... Don't worry about sales tax if you already own the car. ... Write up a bill of sale. ... Transfer your car title. ... Insure the giftee. ... More coverage from How to Do Everything: Money.
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Here's what your gift letter should include: The donor's name, address and phone number. The donor's relationship to the client. The dollar amount of the gift. The date the funds were transferred. A statement from the donor that no repayment is expected. The donor's signature. The address of the property being purchased.
How Do I Write a Rhode Island Bill of Sale? The names of the parties (printed) The date of the bill of sale. Certain information about the item being sold. The amount the item was sold for. The signatures of the involved parties. In some instances, the bill of sale may need to be notarized.
This transaction can be completed at any DMV or AAA office and the forms are available at these locations or at our website: www.dmv.ri.gov.
Does a bill of sale have to be notarized in Rhode Island? No. A vehicle bill of sale for a private party transfer does not need to be notarized.
All fees listed below include $2.50 technology surcharge....Registration & Title Fees. CategoryTransactionFeeTitleTransfer Title$52.5024 more rows

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