It is very important that you fill out a sellers report immediately if you have sold or gifted your vehicle. A sellers report protects you, even when the transfer of title has not yet taken place. A sellers report does not transfer title. However, it will protect you from liability in the event that the new owner receives a parking ticket, towing charges, abandons the vehicle, performs a criminal act using the vehicle, etc.
There are several ways that you can complete a sellers report: