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1. Go to the "tag place" or the DMV and find out how to record a lien on a vehicle title. happens every day, a very normal procedure, like when a bank makes a loan on the title to finance the purchase.
2. You need to draw up a good lien that expresses ALL the rights you want to preserve, including the requirement that any titled owner pay your costs, like bailing the car out of impound.
Maybe some members here would PM you with a template or blank example.
3. You also need to find out how to abandon or surrender the title to the state. This also happens all the time.
For example-when a car is impounded, and stays unclaimed, it "escheats" to the state, who then sells it to the tow-yard. The tow-yard actually pays the state for some part of the 'blue-book value', minus their costs.
( you could ask a salvage yard about this process, they might help you)
There has to be process, read your state vehicle code for "abandoned vehicles, surrender of title" or anything similar
Once your ducks are in a row it's a bunch of paper work:
recording the lien
giving up the title to the state
cancel your registration etc
I might put a new plate on there, private issue, with the vin# prominently displayed. And the legend "private transit" underneath, and "state of X" above.
Unless they send you plates and insurance on their own!
This may take some more thought...I want to study the code a bit to see how this might play out. The problem just occurred to me that the only recourse a lienholder has is against the property itself, and tickets and whatnot may come first by law.
At any rate just having the vehicle in a corporate name keeps you personally immune from "owner responsibility" tickets.
Which just means change the name on the title.
Check back later for further developments.
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