321I.31 - OWNER'S CERTIFICATE OF TITLE -- IN GENERAL.

        321I.31  OWNER'S CERTIFICATE OF TITLE -- IN GENERAL.         1.  The owner of an all-terrain vehicle acquired on or after      January 1, 2000, other than an all-terrain vehicle used exclusively      as a farm implement or a motorcycle previously issued a title      pursuant to chapter 321, shall apply to the county recorder of the      county in which the owner resides for a certificate of title for the      all-terrain vehicle.  The owner of an all-terrain vehicle used      exclusively as a farm implement may obtain a certificate of title.  A      person who owns an all-terrain vehicle that is not required to have a      certificate of title may apply for and receive a certificate of title      for the all-terrain vehicle and, subsequently, the all-terrain      vehicle shall be subject to the requirements of this chapter as if      the all-terrain vehicle were required to be titled.  All all-terrain      vehicles that are titled shall be registered.         2.  A certificate of title shall contain the information and shall      be issued on a form the department prescribes.         3.  An owner of an all-terrain vehicle shall apply to the county      recorder for issuance of a certificate of title within thirty days      after acquisition.  The application shall be on forms the department      prescribes and accompanied by the required fee.  The application      shall be signed and sworn to before a notary public or other person      who administers oaths, or shall include a certification signed in      writing containing substantially the representation that statements      made are true and correct to the best of the applicant's knowledge,      information, and belief, under penalty of perjury.  The application      shall contain the date of sale and gross price of the all-terrain      vehicle or the fair market value if no sale immediately preceded the      transfer and any additional information the department requires.  If      the application is made for an all-terrain vehicle last previously      registered or titled in another state or foreign country, the      application shall contain this information and any other information      the department requires.         4.  If a dealer buys or acquires an all-terrain vehicle for      resale, the dealer may apply for and obtain a certificate of title as      provided in this chapter.  If a dealer buys or acquires a used      all-terrain vehicle, the dealer may apply for a certificate of title      in the dealer's name within thirty days.  If a dealer buys or      acquires a new all-terrain vehicle for resale, the dealer may apply      for a certificate of title in the dealer's name.         5.  A manufacturer or dealer shall not transfer ownership of a new      all-terrain vehicle without supplying the transferee with the      manufacturer's or importer's certificate of origin signed by the      manufacturer's or importer's authorized agent.  The certificate shall      contain information the department requires.  The department may      adopt rules providing for the issuance of a certificate of origin for      an all-terrain vehicle by the department upon good cause shown by the      owner.         6.  A dealer transferring ownership of an all-terrain vehicle      under this chapter shall assign the title to the new owner, or in the      case of a new all-terrain vehicle, assign the certificate of origin.      Within fifteen days the dealer shall forward all moneys and      applications to the county recorder.         7.  The county recorder shall maintain a record of any certificate      of title which the county recorder issues and shall keep each      certificate of title on record until the certificate of title has      been inactive for five years.  When issuing a title for a new      all-terrain vehicle, the county recorder shall obtain and keep on      file a copy of the certificate of origin.  When issuing a title and      registration for a used all-terrain vehicle for which there is no      title or registration, the county recorder shall obtain and keep on      file the affidavit for the unregistered and untitled all-terrain      vehicle.         8.  Once titled, a person shall not sell or transfer ownership of      an all-terrain vehicle without delivering to the purchaser or      transferee a certificate of title with an assignment on it showing      title in the purchaser or transferee.  A person shall not purchase or      otherwise acquire an all-terrain vehicle without obtaining a      certificate of title for it in that person's name.         9.  If the county recorder is not satisfied as to the ownership of      the all-terrain vehicle or that there are no undisclosed security      interests in the all-terrain vehicle, the county recorder may issue a      certificate of title for the all-terrain vehicle but, as a condition      of such issuance, may require the applicant to file with the      department a bond in the form prescribed by the department and      executed by the applicant, and also executed by a person authorized      to conduct a surety business in this state.  The form and amount of      the bond shall be established by rule of the department.  The bond      shall be conditioned to indemnify any prior owner and secured party      and any subsequent purchaser of the all-terrain vehicle or person      acquiring any security interest in the all-terrain vehicle, and their      respective successors in interest, against any expense, loss, or      damage, including reasonable attorney fees, by reason of the issuance      of the certificate of title of the all-terrain vehicle or on account      of any defect in or undisclosed security interest upon the right,      title, and interest of the applicant in and to the all-terrain      vehicle.  Any such interested person has a right of action to recover      on the bond for any breach of its conditions, but the aggregate      liability of the surety to all persons shall not exceed the amount of      the bond.  The bond shall be returned at the end of three years or      prior thereto if the all-terrain vehicle is no longer registered in      this state and the certificate of title is surrendered to the      department, unless the department has been notified of the pendency      of an action to recover on the bond.         10.  A motorcycle that has been issued a certificate of title      pursuant to this section may be issued a title pursuant to chapter      321 upon proper application and surrender of the existing title.      Upon issuance of a title pursuant to chapter 321, the certificate of      title previously issued pursuant to this section shall be returned to      the issuing county recorder.  
         Section History: Recent Form
         2004 Acts, ch 1132, §74; 2007 Acts, ch 141, §49, 50