49-526. Release of liability upon sale of vehicle. (1) The department shall require that a separate release of liability statement be completed by the owner of a motor vehicle upon sale or transfer of the motor vehicle to another party. The statement shall be forwarded to the department by the former owner, together with the proper fee as provided in section 49-202, Idaho Code, within five (5) days of delivery of the motor vehicle to a dealer, purchaser or other transferee. The statement shall include the motor vehicle identification number, vehicle description, name of seller, name and address of buyer or other transferee, date of sale, odometer reading, and sales price. Provided that:
(a) A lienholder may complete the release of liability on behalf of the registered owner when the title is released by the lienholder directly to a dealer or new purchaser.
(b) Motor vehicle dealers licensed under chapter 16, title 49, Idaho Code, are not required to report dealer-to-dealer transfers to the department. However, dealers are required to maintain a record of the transfer for audit and tracking purposes.
(2) Any former owner who files a release of liability statement with the department pursuant to this section shall not be liable under section 49-2417, Idaho Code, nor shall the former owner be liable for any motor vehicle infractions, towing, storage, repair or service charges that may occur subsequent to delivery of the vehicle to a dealer, purchaser or other transferee.
(3) It shall be unlawful for any person to knowingly file or attempt to file a release of liability statement which contains false information.
[49-526, added 1996, ch. 271, sec. 2, p. 884; am. 2002, ch. 366, sec. 2, p. 1033; am. 2003, ch. 153, sec. 1, p. 440.]