Arkansas
Title Reference Guide
The IAA Vehicle Alternate Method of Disposal Guide is a proprietary document prepared solely for internal use by
Insurance Auto Auctions, Inc., its subsidiaries and affiliated entities (“IAA”). No part of this document is to be
photocopied, reproduced, stored in a retrieval system, transmitted electronically, or disclosed to a third party without
prior written consent of Diversified Services Administration or IAA Executive Management.
© 2013. Insurance Auto Auctions, Inc.
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 2
Table of Contents
Contact Information ................................................................................................................................................ 3 Title and Disposal Information ............................................................................................................................... 4
Standard Title Processing ................................................................................................................................... 4 OMV Title Fees .................................................................................................................................................. 4 Duplicate Title .................................................................................................................................................... 4
Additional Information ........................................................................................................................................... 5 Deceased Owner Requirements .......................................................................................................................... 5
Repossessed Vehicle ........................................................................................................................................... 5 Name Changes .................................................................................................................................................... 5 Owner Retain ...................................................................................................................................................... 5 Un-Recovered Theft............................................................................................................................................ 5
Alternate Disposal ............................................................................................................................................... 6 State Guidelines ...................................................................................................................................................... 6
Title Requirements by Vehicle Type .................................................................................................................. 6 Title Branding Guidelines ................................................................................................................................... 7 Determining the Correct Title Type .................................................................................................................... 8
Frequently Asked Questions ................................................................................................................................... 9 What type of PoA is required if the title is not signed? ...................................................................................... 9
What is required to correct a mistake that is made by the owner on the back of the title? ................................. 9 Is a copy of the written estimate needed to process the title? ............................................................................. 9
If an owner’s full name is listed, does he/she need to sign as listed on the face of the title? ............................. 9 Sample Documents ........................................................................................................................................... 10 Arkansas Title (Front) ....................................................................................................................................... 10
........................................................................................................................................................................... 10 Arkansas Title (Back) ....................................................................................................................................... 11
Arkansas Secure Power of Attorney ................................................................................................................. 12
Please note - This document is intended to cover most requirements for obtaining a negotiable, lien-free title. It
is not intended to replace motor vehicle department regulations or rulings. If you have title questions please
contact IAA’s Title Solutions Department ([email protected]).
I N S U R A N C E A U T O A U C T I O N S Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 3
Contact Information
IAA Website: http://www.iaai.com
Title Questions: IAA – Title Solutions
7835 Woodland DriveSuite 200Indianapolis, IN 46278Toll Free: 888-698-4853
FAX: 855-584-5198
Arkansas IAA Branch:
Little Rock
4900 S Kerr Rd
Scott, AR 72142
Phone: 501-961-2886
Fax: 501-961-1805
Auction: Wednesdays 9:30AM CT
Office of Motor Vehicle:
Ragland Building 1900 W 7th St, Ste 1100
Little Rock, AR 72201
Mailing Address
Department of Finance and Administration
Office of Motor Vehicles, PO Box 1272
Records Unit, Room 1100
Little Rock, AR 72203
Phone: 501-682-4692
Fax: 501-682-4756
Arkansas DMV Forms
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 4
Title and Disposal Information
Standard Title Processing
IAA will apply for the appropriate title in the insurance company’s name. In order to initiate this process the
vehicle provider must supply the following documentation:
Properly Executed Title – If owner held title at time of loss, then the provider must send a title that has
been properly executed by the owner or the title including the correctly executed Power of Attorney
(PoA.) If the lienholder possessed the title at the time of the loss, then the provider must send the
unsigned title with a lien release if applicable or lienholder signed off on title, and a Secure Power of
Attorney signed by the owner.
Lien Release (if applicable) – Lien to be satisfied and dated on the face, or include separate notarized
lien termination statement on lienholder letterhead with a vehicle description and owner’s name(s).
Odometer Disclosure – Odometer disclosure is required for vehicles less than seven (7) model years.
This can be accomplished on the title or with a separate odometer statement, signed by the owner.
Mileage should be stated with a verified reading and should not be an estimate or guess.
If IAA is not processing the title, please attach the properly executed sale document and any additional
required forms as outlined above to a coversheet with your selling instructions noted. Forward these
documents to the appropriate IAA Branch.
OMV Title Fees
Please contact your local IAA Branch or OMV for up-to-date fees.
Salvage title fee: $10.00
Duplicate title fee: $10.00
Duplicate Title
With the insured’s cooperation, IAA can apply for a duplicate title.
IAA will need:
Two (2) Arkansas Secure PoA’s or two (2) generic, notarized PoAs
TIMA Form 2 and lien release if applicable
Copy of the Lien Release is acceptable
Title mistakes can be costly and significantly delay the processing and sale of salvage vehicles. Catching
potential errors before the title paperwork goes to auction prevents title problems that delay a vehicle’s
sale by weeks or even months.
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 5
Additional Information
Deceased Owner Requirements
Joint Ownership – Copy of Death Certificate / Spouse signs title
Single Named Title – Surviving spouse signs title / Copy of Death Certificate
Only one named owner on title or court appointed executor – Letters of Testamentary or Letters of
Administrator. Executor signs as seller on title
Repossessed Vehicle
Lienholder signs as owner
Lien release – original signature on title or financial institute letterhead, non-notarized
VIN and Vehicle Year / Make / Model
Affidavit of Repossession
Plates remain with debtor
Name Changes
If the insured’s name is different than the name that appears on the title (i.e. different last name or
nickname instead of first name), a copy of the marriage license, divorce decree or court document
stating legal name has changed may be required in addition to the signed title. Please contact an
Arkansas branch if questions arise.
If name on title is completely different, this could be a situation where the owner purchased the vehicle
from someone and did not title it properly. In this scenario the owner will be required to pay sales taxes
and have the vehicle titled properly before it can be sold. Contact your local IAA branch or Title
Solutions for assistance in resolving these situations. Title Solutions requires written approval via email
or fax from provider before providing assistance.
Owner Retain
If the vehicle has been declared a total loss by the provider and deemed repairable, the owner may retain
the vehicle but must obtain a salvage title.
By law the owner must provide proof of salvage before payment can be issued or must relinquish title
to insurance company to apply for salvage title on their behalf.
Un-Recovered Theft
Insurance company is required to apply for the salvage title. However clear title applicants must have
an Arkansas address. Arkansas will mail the title to address shown as "special mailing address,"
however, the applicant section still must have an Arkansas address. When insurance company does not
have an office in Arkansas, IAA Little Rock address can be used and the special mailing address section
can be IAA’s address.
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 6
Alternate Disposal
Total Loss Settlement Title -- >/ 30 days post settlement. Requirements follow –
o Salvage or Parts Only Title
o Total Loss Settlement Title surrendered
o VIN Inquiry
o Certified Letters – Two (2) attempts last known LH / owner
o Parts Only – Declaration of Damage required
o Sales Tax not applicable to provider on settlement transactions
o Online DMV Screen – “Previous Title Info” = P
o Proceeds = $150.00 if IAA sends letters
Abandonment - If the Provider is unable to obtain a negotiable title, they can abandon the vehicle to
IAA via a written notification on Provider letterhead releasing their interest, and payment of $50
disposal fee. IAA will file all necessary paperwork to sell the vehicle on an Affidavit of Abandonment.
Bonded title - Written notification on provider letterhead if the ACV is greater than $8,000. Provider
will need to cover the alternate disposal fee of $250.00. Proceeds will go to the provider.
State Guidelines
Title Requirements by Vehicle Type
Vehicle Type Titled Note
Passenger vehicles Yes 1949 or newer model year
ATVs Yes
Boats No Sell on bill of sale
Commercial trucks (i.e. tractor trailers) Yes
Farm Equipment No Sell on bill of sale
Manufactured and mobile homes Yes
Mopeds No Sell on bill of sale
Motor Homes and RV’s Yes
Motorcycles Yes
Off-road vehicles Yes
Snowmobiles No Sell on bill of sale
Trailers Yes
Semi Trailers Yes
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 7
Title Branding Guidelines
Salvage Title
Cost of Repair >/70% ACV and </ 8 years
Salvage title required on ANY flood vehicle, regardless of CoR / damage amount,
when/if water level reached was at/above vehicle dashboard
Exemptions –
Motorcycles, motor driven cycles, and trucks with un-laden weight >/10,000lbs.
Any motor vehicle > seven (7) model years prior to calendar year of total loss
occurrence as calculated by subtracting eight (8) from current calendar year
Parts Only – Issued if title is surrendered, and titled owner determines vehicle has no
resale value other than as source for parts or scrap
Salvage Repairable – A Salvage-Repairable title is for vehicles that have been declared
a total loss but are repairable. This type of title requires at least one sub-brand.
Collision
Theft
Fire
Vandalism
Salt
Flood
Other
Affidavit of Reconstruction required for repairable salvage vehicles
Clear Title
Any motor vehicle > seven (7) model years prior to calendar year of total loss
occurrence as calculated by subtracting eight (8) from current calendar year are exempt
from branding
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 8
Determining Title Type
Vehicle declared a
total loss Is vehicle a boat,
snowmobile, or
moped?
Not titled in
Arkansas
Title may
remain clear
Salvage
Title
Required
Is vehicle older
than 1949
Is cost of repair
>/ 70% ACV?
Is this a flood
claim?
Y
Y
N
Y
N
N
Y
Was water
level above level of
dashboard?
Y
Was vehicle >7
model years prior
to calendar loss
year?
Y N
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 9
Frequently Asked Questions
What type of PoA is required if the title is not signed?
The state of Arkansas accepts a secure power of attorney form (PoA- TIMA Form 2) only, for all title
processing.
What is required to correct a mistake that is made by the owner on the back of the title?
Notarized Affidavit of Correction (copy accepted). Contact branch with specific questions.
Is a copy of the written estimate needed to process the title?
A damage appraisal is not required to process a title; however the IAA branch needs an actual cash value and an
estimated cost of repair.
If an owner’s full name is listed, does he/she need to sign as listed on the face of the title?
The signature should match exactly as the name is listed on the face of the title.
Example: John P. Doe is signature for named title of John P Doe. Note that this is NOT signed John Doe or J.
Doe or Mr. Doe.
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 10
Sample Documents
Arkansas Title (Front)
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 11
Arkansas Title (Back)
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 12
Arkansas Secure Power of Attorney
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 13
Glossary of Terms
Term Definition
Affidavit of Correction
A notarized form that can correct certain errors made by an owner on the
title
Appraisal Written estimate detailing damage and replacement costs for a vehicle. Also
known as an Estimate of Repair
Date of Loss Date of event that resulted in total loss
Duplicate Title Replacement title obtained through the state DMV
Electronic Title Electronic exchange format that replaces paper title
Exceeds Mechanical Limits IEML)
Miles driven exceeds odometer capacity. For example, odometers on older
vehicles capped at 99,999 miles. Newer models cap at 999,999
Lien Release A written, original statement on business or personal letterhead, or
signature on a title that releases interest in the vehicle by the lienholder so
that the vehicle may be sold. It is important to note that the lien release
only releases interest in the vehicle; it does not mean that the lien was
satisfied. In most cases the lienholder will release interest in a totaled
vehicle so the insurance company will release proceeds to lienholder. In
most cases, where the settlement does not cover the balance of the loan
(upside-down) the owner is still liable to the lienholder for the balance.
Not Actual Mileage (NAM)
Option indicating mileage on odometer is not a true representation of
vehicle mileage. Indication of replacement of engine control unit (ECU) or
related mechanical malfunction
Odometer Disclosure Requirement to disclose vehicle mileage either on title or separate
disclosure statement. Requirement linked to vehicle model years and
varies by state
Owner Named title holder(s) indicating legal owner of vehicle
Owner Retained Vehicle ownership maintained by owner for any vehicle that is deemed total
loss by insurance company. Salvage title requirements vary by state
Power of Attorney (PoA)
A legal document signed by an owner that allows another entity (i.e. SPE)
to sign paperwork, such as title applications, on owner’s behalf. Secured
Power of Attorney includes an odometer disclosure and is required by
certain states. SPoA’s are printed as a specific form by the respective state
and, therefore, may not be emailed or faxed
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 14
Properly Executed Title
Title that has been accurately signed by named owner(s), showing no
outstanding liens, and has been notarized, if required
Provider The insurance company, charity, or individual selling vehicle through IAA
Repair Estimate Written itemized detail of vehicle damage and costs for repair / replacement
Sale Document Written documentation of vehicle sale. May include Bill of Sale, MV907A,
clear title, salvage title, certificate of destruction, junk / scrap title, etc
Salvage Title Title issued to document total loss status and nature of loss. State
requirements for salvage title vary by state and may include inspection
and/or repair requirements
Title Problems Refers to titles that are missing signatures, incorrectly signed, not signed by
all named owner(s) and/or contain errors
Title Solutions IAA service department focused on providing title processing solutions for
most challenging claims
Total Loss Status level given for any vehicle deemed uneconomical to repair
Un-Recovered Theft File status indicating a vehicle has been stolen and not recovered
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 15
Index
A
Alternate disposal ............................................................................... 6 ATV ..................................................................................................... 6
B
Boat .................................................................................................... 6 Boats ................................................................................................... 6
C
Commercial truck ............................................................................... 6
D
Deceased owner ................................................................................. 5 Duplicate title ..................................................................................... 4 Duplicate Title .................................................................................... 4
F
Farm equipment ................................................................................. 6 Farm Equipment ................................................................................. 6
L
Lien release ......................................................................................... 4
M
Manufactured and mobile homes ...................................................... 6 Moped ................................................................................................ 6 Mopeds .............................................................................................. 6 Motorcycle ......................................................................................... 6 Motorcycles ........................................................................................ 6
N
Name changes .................................................................................... 5
O
Odometer disclosure .......................................................................... 4
P
PoA ..................................................................................................... 9 Power of attorney (PoA) ........................................................... 4, 9, 12
S
Secure power of attorney (SPOA) ................................................ 4, 12
T
Title fees ............................................................................................. 4 Trailers................................................................................................ 6
I N S U R A N C E A U T O A U C T I O N S
Last Updated 022014
Please direct any questions, comments, or corrections to IAA’s Title Solutions Team.
[email protected] Toll Free - 888-MY-TITLE (888-698-4853)
© 2013. Insurance Auto Auctions, Inc.
Page 16