SB 18-073

Senate Bill 18-073, which has been signed into law, introduces a voluntary program that allows car owners in Colorado to report when they transfer ownership of their vehicle. If the previous owner reports this change to the state’s Department of Revenue, they are not held responsible if the new owner misuses the vehicle. The department will inform people about this reporting option through registration renewal notices and titles. However, the law does not protect the original owner from liability if they were involved in selling the car improperly or illegally. This means that current and future car owners can now have more protection against misuse by reporting ownership changes to the state.

Official Summary

The bill creates a voluntary program administered by the department of revenue that authorizes the owner of a motor vehicle to report a transfer of ownership of the motor vehicle. If the previous owner reports the transfer to the department, the previous owner is not subject to liability for the misuse of the vehicle. The department will notify owners of the option to report a transfer of ownership by placing a notice on registration renewal information and the title and by notifying the public. The bill also clarifies that the protection against liability does not apply to the owner for liability arising from the act of selling the vehicle.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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