Are You Filing Late and Being Penalized For Late Transfers of Title?
FADA and SFADA are researching a recent issue brought to our attention. Several dealers have noted that they are being charged $20 for late filing fees related to title transfers due to circumstances beyond their immediate control – slow responses from lenders on payoffs and funding issues. Here are the statutes requiring these automatic fines:
Florida statutes require that a dealer actually apply for the transfer of title and registration on behalf of a purchaser within thirty (30) days of the date of purchase or date of delivery.
Any person, including a dealer, who fails to transfer title within the thirty-day requirement, as specified by law, must pay a late penalty of $20 at the time of applying for transfer. Governmental agencies are not exempt from this requirement. When a dealer fails to act within the required time period, the late penalty cannot be passed on to an ultimate purchaser.
This is an automatic process according to the local tax collectors that is triggered by date sequences in the FRVIS system. FADA and SFADA are looking at a revision in this late fee due to the issues that are not controllable by the dealer. We are in discussions with DHSMV and will get back on this issue.