Salvage Motorcycle Title - Alaska

SALVAGE MOTORCYCLE TITLES:

Many states issue a salvage title for a vehicle that has been damaged, destroyed, wrecked or submerged in water. They require the regular title be surrendered before a salvage title is issued. The purpose of a salvage title is to prevent the fraud that occurs when the titles of wrecked vehicles are used to transfer stolen vehicles. This can occur when an unsuspecting buyer does not check the VIN on the vehicle with the VIN on the ownership document.

Alaska law does not address salvage titles nor does Alaska issue a salvage title. A vehicle with a salvage title is treated the same as a reconstructed vehicle and the salvage title is treated the same as the proof of ownership for the chassis/frame. Quite often the body of a vehicle will need to be replaced to restore the vehicle to operating condition. Inspection requirements are the same as the reconstructed vehicle procedure.

Bills of sale are acceptable with salvage titles to transfer ownership. When a title is surrendered to a DMV and that state issues a salvage title the vehicle becomes a “non-vehicle” and bills of sale are permissible to transfer ownership.

NOTE: Some states issue a title with the salvage BRAND on it after the vehicle has been reconstructed. It is important to check the Polk II manual to verify this.

When an insurance company notifies the DMV that a vehicle is “JUNKED,” any titles issued for that vehicle subsequent to the notification will be titled following the reconstruct vehicle process.

Technorati Tags: auction motorcycle, salvage motorcycle, salvage motorcycles, title motorcycle