MARCH 10, 2011

CADA Open Road, Special Edition:
TITLE PROCESSING ALERT!


 

State Title Processing Form Change: Revised Title Application, DR 2395

 

State Title Processing Form Change: Revised Title Application, DR 2395; Q&A Webinar with State, 3/24/2011


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* * * IMPORTANT * * *
TITLE PROCESSING ALERT!

STATE TITLE PROCESSING FORM CHANGE: REVISED TITLE APPLICATION, DR 2395

Previous versions of the DR 2395 dated 06/30/09 may be accepted until July 1, 2011. On and after July 1, 2011, only the 02/22/11 version of the DR 2395 will be accepted.

SEE BELOW TO REGISTER FOR STATE WEBINAR / Q&A – ONLY 100 SPOTS AVAILABLE!

The state Titles & Registration section has sent notice that the form, DR 2395, Title and/or Registration Application, has been revised.  The new revision date is 2/22/11.  The new form can be used immediately.  Further, the state will allow a period of one hundred twenty (120) days from the date of public notice to deplete prior, existing form inventory.  Additionally, as a reminder, the cut-off date applies to the date of use (contract date), not the date received at the county.  As of 7/1/2011, dealerships should ensure use of the revised form.

Explanation of change:

The DR 2395 Title and/or Registration Application has been changed to require all vehicle owners to declare their intent of Joint Tenancy with Rights of Survivorship (JTWROS) or Tenants in Common.

The DR 2395 (Rev 02/22/11) changes include:

  • Joint Tenancy with Rights of Survivorship Acknowledgement of Intent page has been added
  • Signature line for all owners acknowledging intent
  • Date of signature line for each owner
  • The Verification of Vehicle Identification Number page has been removed and made a separate form number DR 2698
    • DR 2698, Verification of Vehicle Identification Number/ Title Application (Rev. 11/04/10) Cut-off date  06/30/2011
  • Additional boxes have been added for lienholders to add a different address for the title to be mailed. If no address is provided, the title will be mailed to the first lienholder name and address provided on the Title and/or Registration Application
  • Confidentiality statement added to the application for compliance with Colorado Revised Statute (C.R.S.) 42-2-121 (4) (a)
  • ”Any Alteration or Erasure in this Area May Void this Document” wording has been added and will apply to the top portion of the application only
  • An area for “County Use Only” has been added below the application for clerks to use as a worksheet

A title in JTWROS will only be issued if all owners declare their intent as such on either the DR 2395 or DR 2574 form.  If any owner chooses Tenants in Common or has not declared their intent, the title will be issued with Tenants in Common.

Further information:

**WEBINAR March 24th with State Title & Registration Personnel!**

The state will hold a webinar / Q&A session for dealership personnel. Visit the registration link below: 
Space is limited.
Reserve your Webinar seat now at:
https://www3.gotomeeting.com/register/809890806

This Webinar meeting is designed to allow dealers from all areas to use their computer and/or phone to attend an overview of the recent bulletin concerning the Title Application Change and Joint Tenancy with Rights of Survivorship declaration for vehicle owners.  Crystal Soderman, Title Services Manager, for the Department of Revenue Title Section will be reviewing the form, bulletin, and related questions on this process.  There will be an opportunity for additional questions and answers from all participants.

Title:                      JTWROS Declaration/Title Application Changes - Dealers       
Date:                     Thursday, March 24, 2011                
Time:                     10:00 AM - 11:00 AM MDT

* * * * * * * *

If you have questions on any legal or regulatory topic, please contact:

DISCLAIMER: CADA is not authorized to dispense legal advice.The information contained in this weekly email is intended to provide important updates and reminders regarding statutes, litigation, and regulations. CADA always advises that dealers should consult legal counsel on the specifics of any laws or regulations to ensure proper compliance


a

* * * * * * * *

aTO REGISTER ONLINE FOR ANY CADA
SEMINAR OR EVENT, PLEASE VISIT:

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Event Description
Date/Time
Location

WEBINAR - JTWROS Declaration/Title Application Changes – For Dealers

By State Titles & Registration, Crystal Sodermann,Title Services Manager


Thursday, March 24, 2011

10:00am to 11:00am


CLICK HERE to register

If you have a particular area of interest or would like to suggest a training seminar topic, please contact Lauren Stadler at 303.457.5123 or lauren.stadler@coloradodealers.org


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