Question about back up paperwork needed

[kl030505]

In July 2006, my husband sold his jeep for $2500. He did NOT sell to a family member. Do I have to find the info about the sale? We will be filing in a few weeks. Since it has been more than a year, do I have to find the paperwork?

[nc73]

In July 2006, my husband sold his jeep for $2500. He did NOT sell to a family member. Do I have to find the info about the sale? We will be filing in a few weeks. Since it has been more than a year, do I have to find the paperwork?

I thought they look back 2 years for major transfers. I don't know if paperwork is needed though, not that far yet...

[lrprn]

In July 2006, my husband sold his jeep for $2500. He did NOT sell to a family member. ... We will be filing in a few weeks. Since it has been more than a year, do I have to find the paperwork?

With more than a year between the sale and your filing, you likely have nothing to worry about.

Couple of questions out of curiostiy - was the $2500 sale price equal to the vehicle's true value? Did your husband sell the car to a friend or other person he knows or did he sell it to a stranger or dealer? Last question - what does your lawyer have to say about the Jeep sale?

[jp2861]

Like lrprn said, I wouldn't worry about it. Especially for $2,500. You may get asked WHO you sold it to. Or, WHAT you did with the money. But, for that small amount I wouldn't worry about it. But, still interested to hear what you get for an official answer. I'm not sure what paperwork you could find anyway. Does your state require a Bill of Sale? Or does DMV just go on what the buyer says when he registers it? Some states don't require anything other than a signed title and they compute fees off of the original retail price. Chances are you'll get asked the 2 questions and move on.

[kl030505]

Our attorney wanted the name of the person he sold it to and I think the bill of sale or something like that (which I have... SOMEWHERE, I just have to dig it up...), but that was also in January when we first consulted him and it was less than a year since the sale. I'm pretty sure it was fair market value for the jeep. It needed a lot of repairs we couldn't afford - it wasn't legal in MA at the time (wouldn't pass inspections) and we couldn't afford the repairs, so he sold it (not to a friend, a dealer of used cars I think). We used the money for living expenses at the time (at that point in time I was the only one working and only bringing home about $2K/month... house payment was $1100, car payment was $386, you can imagine that the rest didn't go very far...).

We haven't been able to schedule a meeting with our attorney... have to call AGAIN, so I thought maybe someone here would know. I'll let you all know what he says.