What form of title must an insurer obtain in connection with the sale of
a vehicle that has been acquired through the settlement of a claim?
Pursuant to Idaho Code § 49-524:
(5) Every insurer making payment for a vehicle which has
been determined to be a salvage vehicle, shall within thirty
(30) days from receipt of the properly released certificate of
origin or certificate of title, issue a salvage certificate to the
purchaser and surrender to the department the ownership
documents, a copy of the salvage certificate, the salvage
certificate fee and other documents as required by the
department for processing. The department shall mark its
records appropriately.
(9) If an insurer acquires the certificate of title of a vehicle in
a settlement of a theft claim, the insurer shall immediately,
upon receipt of the properly released certificate of origin or
certificate of title, issue a salvage certificate in the name of
the insurer and surrender to the department the ownership
documents, a copy of the salvage certificate, the salvage
certificate fee and other documents as required by the
department for processing..
(10) If an insurer has acquired a vehicle in a settlement of a
theft claim, has made application to and has been issued a
new salvage certificate in the name of the insurer and the
vehicle is subsequently recovered and is not a salvage
vehicle, the insurer may complete an affidavit indemnifying
the department stating the facts of acquisition and disposition
of the vehicle in a form prescribed by the department and
deliver the salvage certificate of ownership, affidavit and any
other documents required by the department to the transferee
at the time of delivery of the vehicle. back to top
What documents must an insurer provide to Copart in order to sell a
vehicle on a Certificate of Title?
The insurer shall provide Copart with a Certificate of Title or a comparable
ownership document issued by another state or jurisdiction (either endorsed
over to the insurer or accompanied by a power of attorney), an odometer
disclosure statement, a release of any liens, and an ACV.
Copart, acting under a power of attorney for the insurer, will then sell the
vehicle at auction and reassign the insurer’s Certificate of Title to the
purchaser. [See Idaho Code § 49-502] back to top
What documents must an insurer provide to Copart in order to sell a
vehicle on a Salvage Certificate of Title?
The insurer shall provide Copart with a Certificate of Title or a comparable
ownership document issued by another state or jurisdiction (either endorsed
over to the insurer or accompanied by a power of attorney), an odometer
disclosure statement, a release of any liens, and an ACV.
Upon receipt of the above documents, Copart will fill out a Salvage
Certificate of Title. Thereafter, Copart will deliver a copy of the Salvage
Certificate of Title along with the above documents and processing fee to
the Idaho Transportation Department.
Copart, acting under a power of attorney for the insurer, will then sell the
vehicle at auction and reassign the insurer’s Salvage Certificate of Title to
the purchaser. [See Idaho Code § 49-524] back to top
What documents must an insurer provide to Copart in order to sell a
recovered theft vehicle recovered substantially intact with no
substantial damage, where title is still in the name of the insured?
When a vehicle has been stolen, the insurer shall provide Copart with a
Certificate of Title or a comparable ownership document issued by another
state or jurisdiction (either endorsed over to the insurer or accompanied by
a power of attorney), an odometer disclosure statement with last known
mileage, and a release of any liens.
After receipt of these documents, Copart will fill out a Salvage Certificate
of Title, and submit a copy of the Salvage Certificate of Title along with the
above documents and processing fee to the Idaho Transportation
Department. Copart will forward the Salvage Certificate of Title to the
insurer for safekeeping.
If the vehicle is recovered, the Salvage Certificate of Title along with an
ACV will be returned to Copart by the insurer in order to obtain the
appropriate title depending upon the year of the vehicle and the damage to
the vehicle.
Copart, acting upon a power of attorney for the insurer, will then sell the
vehicle at auction and reassign the insurer’s Certificate of Title to the
purchaser. [See Idaho Code §§ 49-502, 49-524] back to top
What steps must an insurer take in Idaho to process an owner-retained
vehicle?
Pursuant to Idaho Code § 49-524(8):
If an insurer has allowed the owner to retain ownership of the salvage
vehicle, the owner must surrender the certificate of title for such vehicle to
the department or the insurance company not later than fifteen (15) days
from the date that the claim was satisfied. The insurer must notify the
department of a total loss payoff. The insurer or department shall issue a
salvage certificate to the owner prior to any sale or disposition of the
salvage vehicle. back to top
What legal duties are imposed upon a lienholder following satisfaction
of the lien?
When a lien or encumbrance is cancelled or discharged, the lienholder shall
provide notice of such cancellation or discharge to the department. If the
lienholder was holding the paper certificate of title, he shall note the
cancellation or discharge on the certificate of title in the space provided,
over his signature, or by some other legal document, discharging the
encumbrance, and shall deliver the paper certificate of title to the owner.
[See Idaho Code § 49-511] back to top
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