342.12 Withholding certificate of title; bond.

178 words·~1 min read·/wi/chapter-342/342-12

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)No certificate of title shall be issued by the department until the outstanding evidence of ownership is surrendered to the department.

(2)If the department is not satisfied as to the ownership of the vehicle or that there are no undisclosed security interests in it, the department, subject to sub.

(3), shall withhold issuance of a certificate of title until the applicant presents documents reasonably sufficient to satisfy the department as to the applicant’s ownership of the vehicle and that there are no undisclosed security interests in it.

(3)Notwithstanding sub.

(2), the department may issue a certificate of title if the applicant fulfills either of the following requirements:

(a)The applicant is a dealer licensed under ss. 218.0101 to 218.0163 or 218.11 and is financially responsible as substantiated by the last financial statement on file with the licensor, a finance company licensed under ss. 138.09 or 218.0101 to 218.0163 , a bank organized under the laws of this state, or a national bank located in this state; or