transfer of registration question

[euphoric1]

a friends son of mine purchased a new sled last year but within that year took over the loan and is now paying for the sled, is there a way to just transfer the registration to the fathers name since he has taken ownership without having to pay taxes again on the machine that was just sold and were paid for the year prior? and being it is a son to father can just a simple transfer be made without having to re register? sorry if stupid question, was just hoping maybe someone else has dealt with this situation

 

[sjb]

Something similar - bought a boat, or more of a transfer of ownership from my father to me. I know I did not pay tax on it - but not sure how it was written up. My thoughts if the son and father worked out some sort of agreement where there really isn't money transferred, there will be a transfer fee for registration, but should not have to pay tax.

He can call the 800 DNR # for clarification.

 

[brad460]

I recently gave my dad my 2013 Ski Doo and we went online and transferred the registration. We entered $0 as the selling price and added a note it was transferred from son to father. Very easy..

 

[euphoric1]

Thanks sjb and brad460! that's the news I'm sure he was hoping to hear, he doesn't want to sell the sled and it didn't seem fair that you know who to get the you know what twice in a year.

 

[mezz]

When selling any vehicle to "Immediate Family", the state does not charge tax on the sale. If tax were applicable, then the selling price becomes $1, not a lot of tax to be had with that.-Mezz