Home > OMV Policy & Procedure: "TR" (VEHICLE TRADED) FLAG
LOUISIANA DEPARTMENT OF PUBLIC SAFETY
OFFICE OF MOTOR VEHICLES
|Section:||IV Motor Vehicle Registration Requirements||Effective: || 05/23/1988|
"TR" (VEHICLE TRADED) FLAG
When a monthly report (DPSMV 4251), invoice, or bill of sale is received indicating that a vehicle has been traded to a dealer, a TT30 must be processed to set either a TR (traded vehicle) flag or CP TR (cancelled plate-vehicle traded) flags and enter the date the vehicle was traded in the "Date 2" field.
The TR flag must not be set if the master record indicates a new owner.
A TR flag cannot be set if an ST flag is set in the master record. Refer to Section IV, Policy/Procedure Statement #42.0 concerning salvage titles.
A VT flag cannot be replaced with a TR flag unless documentation is submitted or verified on image indicating that the vehicle was traded and not sold.
An NU (non-use) flag and dates must be removed before a TR flag and date can be set.
When CP TR flags are set on the master record and the customer claims that he still owns the vehicle, a "W" or "DM" inquiry must be processed to determine if the customer purchased a new vehicle around the date displayed in the Date 2 field.
1. If a match is found, the customer must be instructed to obtain a notarized affidavit stating that the vehicle was not traded to a dealer. Upon receipt of the affidavit, an "LS" print-out must be attached to the affidavit and forwarded to the Title Audit Unit, Headquarters. The customer must be advised that he will be notified in writing after microfilm is obtained.
2. If a match is not found, a physical inspection of the vehicle must be performed. The customer must sign a statement that he/she did not trade in the vehicle. The CP TR flags must be removed so the transaction can be processed.
A TT25U, TT28U, or TT35U can be processed to issue a new license plate and registration or to display "NONE" in the license field. The CP TR flags and date will display protected on the master record and, after the transaction has been processed, will be automatically lifted.
A TT24, TT57, or TT59 can be processed to enter a transferable plate removed from another vehicle. The CP TR flags and date will display protected on the master record and, after the transaction has been processed, will be automatically lifted. A "PF" flag must not be set.
Transactions 21, 22, 29, 30, 31, 32, 33, 34, 41, 42, 44, 51, and 58 will not be allowed when the CP TR flags are set on master record.
Transactions 61, 62 and LA and VA can be processed and the CP TR flags will remain on the record.
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