Furthermore, the buyer never gets put on the record of ownership. The buyer is now able to resell the car without ever paying taxes or fees for having bought it. This might be the choice of the buyer, the choice of the seller, or a persuasion by either party. When a title is floated, the seller signs off on their part, but they leave a blank where they should fill in the buyer’s information and date of sale. If the data on the VIN Check matches the data presented by the seller, and if the seller’s name matches on their ID and on the title, you can be confident that you are avoiding getting caught up in a title floating headache. You can avoid getting involved in title floating by running a cursory VIN Check on any vehicle you plan to buy. No matter what you call this act, it’s illegal – in some states it’s even a felony. The situation is exacerbated if multiple successive owners float the title over a period of months or even years. The seller is thereby allowing the buyer to skip out on taxes and fees. When someone doesn’t assign the vehicle title properly after a sale, the title remains open and isn’t signed or dated by the buyer. Transferring a car title without signing it, otherwise known as floating a title, is actually a criminal offense called title jumping. But people do it all the time, so what’s the big deal? This seemingly innocent event causes some serious issues down the road and is expressly illegal if you get caught doing it.
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