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Handbook of Business Procedures

Date published: 
Last revised: 
Issued by: 

April 23, 2013
April 23, 2013
Inventory Services

 

Part 16. Inventory Control and Property Management - Table of Contents


16.4.1. VEHICLE TITLE TRANSFERS

A. Vehicle Sales

Title transfers are required for the purchase and sale of all university vehicles, carts, trailers, and other wheeled conveyances that have a Manufacturer’s Certificate of Origin and/or require a title. When a new or used vehicle is purchased or received, the department must send all original vehicle paperwork to University Fleet Operations (UFO). This includes all manufacturers’ certificate of origins, original titles, and original sales invoices. The Fleet Department maintains a file of all original paperwork during the equipment’s useful life, and retains the records for a period of at least three years after the equipment is sold or otherwise disposed.

Departments must contact UFO prior to selling or transferring any vehicle, whether the sale is to another university department or to an external entity. Regardless of the method of sale, all vehicle sales are subject to Inventory Services’ disposal procedures. For more information, refer to 16.3. Removal of Equipment from the Inventory - General Information.

B. Salvaged Vehicles

If a vehicle is salvaged after an automobile accident, the department must contact the university’s Risk Management unit to file an accident claim and initiate title transfer. After the university’s Risk Management office accepts an insurance settlement offer, UFO completes the Texas Motor Vehicle Transfer Notification form. Then the vehicle title is signed by UT Austin Property Manager or designated delegate, and the signed title is given to the insurance adjustor in exchange for the settlement check. For more information, refer to Part 19.1.1. Vehicle Insurance and Related Claims.

C. Resources

 

 

Part 16. Inventory Control and Property Management - Table of Contents