Transferring your title is an important step in completing your refinancing. You will either sign a Limited Power of Attorney or complete a title transfer application, depending on your state’s requirements. Your state may also require this document to be notarized. If there are differences between your loan and title information, you may have to go into the Department of Motor Vehicles (DMV) in your state. We will keep you notified on all the requirements that may come up throughout the process.
If you are signing a limited power of attorney:
The Limited Power of Attorney (POA) is a benefit to you. It allows Capital One to create a title transfer application and perform any necessary paperwork to remove the previous lender from the title and add Capital One as the lien holder. A properly signed and notarized (if applicable) POA allows Capital One to work on your behalf. All owners listed on the title must sign a POA document for it to be valid. We will send you a POA form to sign and return to us, or you can find it online and print it yourself. Some states accept fax and some states require the original POA document. Keep in mind that, depending on your state, you may be eligible to electronically sign your POA. We will inform you if this method is applicable for you.
If you are filling out the title application on your own:
If required by your state, you may need to fill out a title transfer application to complete the title transfer. We will inform you if this is a requirement.
Terms to know related to title transfer:
- Notarized Limited Power of Attorney (POA): A signed and notarized document that gives us permission to work on transferring on your behalf. We will provide a POA form to you, but you will have to find a notary in your area to have the document notarized.
- Non Notarized Limited Power of Attorney (POA): A signed document that does not need to be notarized. This document will give us permission to work on your title on your behalf as well. We will provide a POA form to you.
- Notary: A notarized document means that you've signed it in front of a notary public who saw you sign and verified your identity. You can get your document notarized by searching for notaries near you.
- Original Title: A document that is like your vehicle’s birth certificate. It serves as proof of ownership and includes information about the vehicle, such as its make, model and vehicle identification number (VIN). The title also shows the lien holder of the vehicle.
- Tribal Nation: A federally recognized Native American Tribe.
There may be other documents required depending on your state or specific situation, but you can learn more and find all requirements by visiting Title Tracker.