308-56A-075 - Multiple legal owners

308-56A-075. Multiple legal owners

(1) Can more than one legal owner show as security interest on the certificate of ownership? Yes, however, this is subject to the limited amount of space available in the department's computer system for legal owner's name information.

(2) How are additional legal owner's interest shown on the certificate of ownership? Additional legal owners are shown directly after the first legal owner. Only the address of the first legal owner will be shown on the certificate of ownership.

(3) If the security interest has been satisfied with one of the legal owners shown on a certificate of ownership, how is their interest released? When the security interest of one of the legal owners shown on a certificate of ownership has been satisfied that interest must be released on the certificate of ownership or a department approved release of interest form. The remaining legal owner(s) must, within ten days of receiving the properly released certificate of ownership, apply for reissuance of the certificate of ownership showing the remaining legal owner's name and address.

Statutory Authority: RCW 46.01.110. 04-13-118, § 308-56A-075, filed 6/22/04, effective 7/23/04; 03-10-097, § 308-56A-075, filed 5/7/03, effective 6/7/03; 99-08-064, § 308-56A-075, filed 4/5/99, effective 5/6/99. Statutory Authority: RCW 46.01.110 and 46.12.030. 97-03-076, § 308-56A-075, filed 1/15/97, effective 2/15/97; Order MV 208, § 308-56A-075, filed 7/31/74.

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