Nebraska State Title Processing Procedures

1. What form of title must an insurer obtain in connection with the sale of a vehicle that has been acquired through the settlement of a claim?
2. What documents must an insurer provide to CarBuyerUSA in order to sell a vehicle on a Certificate of Title?
3. What documents must an insurer provide to CarBuyerUSA in order to sell a vehicle on a Certificate of Title branded "Salvage"?
4. What documents must an insurer provide to CarBuyerUSA in order to sell a recovered theft vehicle recovered substantially intact with no substantial damage, where title is still in the name of the insured?
5. What steps must an insurer take in Nebraska to process an owner-retained vehicle?
6. What legal duties are imposed upon a lienholder following satisfaction of the lien?

1. What form of title must an insurer obtain in connection with the sale of a vehicle that has been acquired through the settlement of a claim?
   
   When an insurance company acquires a salvage vehicle through payment of a total loss settlement on account of damage, the company shall obtain the certificate of title from the owner, surrender such certificate of title to the county clerk or designated county official, and make application for a salvage branded certificate of title which shall be assigned when the company transfers ownership. An insurer shall take title to a salvage vehicle for which a total loss settlement is made unless the owner of the salvage vehicle elects to retain the salvage vehicle. If the owner elects to retain the salvage vehicle, the insurance company shall notify the department of such fact in a format prescribed by the department. The department shall immediately enter the salvage brand onto the computerized record of the vehicle. The insurance company shall also notify the owner of the owner's responsibility to comply with this section. The owner shall, within thirty days after the settlement of the loss, ten days after settlement of the loss in the case of a salvage all-terrain vehicle or minibike, forward the properly endorsed acceptable certificate of title to the county clerk or designated county official in the county designated in section 60-144. The county clerk or designated county official shall, upon receipt of the certificate of title, issue a salvage branded certificate of title for the vehicle.
   
   [Nebraska Revised Statutes § 60-173]
   
   For purposes of sections §§ 60-171 to 177:
   
   (1) Cost of repairs means the estimated or actual retail cost of parts needed to repair a vehicle plus the cost of labor computed by using the hourly labor rate and time allocations for repair that are customary and reasonable. Retail cost of parts and labor rates may be based upon collision estimating manuals or electronic computer estimating systems customarily used in the insurance industry;
   
   (2) Late model vehicle means a vehicle which has (a) a manufacturer's model year designation of, or later than, the year in which the vehicle was wrecked, damaged, or destroyed, or any of the six preceding years or (b)(i) in the case of vehicles other than all-terrain vehicles and minibikes, a retail value of more than ten thousand five hundred dollars until January 1, 2010, and a retail value of more than ten thousand five hundred dollars increased by five hundred dollars every five years thereafter or (ii) in the case of all-terrain vehicles or minibikes, a retail value of more than one thousand seven hundred fifty dollars until January 1, 2010, and a retail value of more than one thousand seven hundred fifty dollars increased by two hundred fifty dollars every five years thereafter;
   
   (3) Manufacturer buyback means the designation of a vehicle with an alleged nonconformity when the vehicle (a) has been replaced by a manufacturer or (b) has been repurchased by a manufacturer as the result of court judgment, arbitration, or any voluntary agreement entered into between the manufacturer or its agent and a consumer;
   
   (4) Previously salvaged means the designation of a rebuilt or reconstructed vehicle which was previously required to be issued a salvage branded certificate of title and which has been inspected as provided in section 60- 146;
   
   (5) Retail value means the actual cash value, fair market value, or retail value of a vehicle as (a) set forth in a current edition of any nationally recognized compilation, including automated data bases, of retail values or (b) determined pursuant to a market survey of comparable vehicles with respect to condition and equipment; and
   
   (6) Salvage means the designation of a vehicle which is:
   
   
   (a) A late model vehicle which has been wrecked, damaged, or destroyed to the extent that the estimated total cost of repair to rebuild or reconstruct the vehicle to its condition immediately before it was wrecked, damaged, or destroyed and to restore the vehicle to a condition for legal operation, meets or exceeds seventyfive percent of the retail value of the vehicle at the time it was wrecked, damaged, or destroyed; or
   
   (b) Voluntarily designated by the owner of the vehicle as a salvage vehicle by obtaining a salvage branded certificate of title, without respect to the damage to, age of, or value of the vehicle.
   
   [Nebraska Revised Statutes § 60-171] back to top
   
   
2. What documents must an insurer provide to CarBuyerUSA in order to sell a vehicle on a Certificate of Title?
   
   The insurer shall provide CarBuyerUSA with a Certificate of Title or a comparable ownership document issued by another state or jurisdiction (either endorsed over to the insurer or accompanied by a power of attorney), an odometer disclosure statement, and a release of any liens.
   
   CarBuyerUSA will submit these documents along with an Application for Certificate of Title (RV-707) and the appropriate fee to the Department of Motor Vehicles for processing.
   
   Thereafter, the Department of Motor Vehicles shall issue a Certificate of Title in the name of the insurer.
   
   CarBuyerUSA, acting under a power of attorney for the insurer, will then sell the vehicle at auction and reassign the insurer’s Certificate of Title to the purchaser.back to top


3. What documents must an insurer provide to CarBuyerUSA in order to sell a vehicle on a Certificate of Title branded "Salvage"?
   
   The insurer shall provide CarBuyerUSA with a Certificate of Title or a comparable ownership document issued by another state or jurisdiction (either endorsed over to the insurer or accompanied by a power of attorney), an odometer disclosure statement, a release of any liens, and a letter from insurance company stating vehicle has been declared a total loss.
   
   CarBuyerUSA will submit these documents along with an Application for Certificate of Title (RV-707) and the appropriate fee to the Department of Motor Vehicles for processing.
   
   Thereafter, the Department of Motor Vehicles shall issue a Certificate of Title branded "Salvage" in the name of the insurer.
   
   CarBuyerUSA, acting under a power of attorney for the insurer, will then sell the vehicle at auction and reassign the insurer’s Certificate of Title branded "Salvage" to the purchaser.
   
   [Nebraska Revised Statutes §§ 60-171; 60-173] back to top


4. What documents must an insurer provide to CarBuyerUSA in order to sell a recovered theft vehicle recovered substantially intact with no substantial damage, where title is still in the name of the insured?
   
   When a vehicle has been stolen and recovered, the insurer shall provide CarBuyerUSA with a Title or a comparable ownership document issued by another state or jurisdiction (either endorsed over to the insurer or accompanied by a power of attorney), an odometer disclosure statement with last known mileage, a release of any liens, and a letter from insurance company stating vehicle has been declared a total loss.
   
   After receipt of these documents, CarBuyerUSA will submit these documents along with an Application for Certificate of Title (RV-707) and the appropriate fee to the Department of Motor Vehicle for processing.
   
   Thereafter, the Department of Motor Vehicle shall issue the appropriate title depending upon the damage to the vehicle.
   
   CarBuyerUSA, acting upon a power of attorney for the insurer, will then sell the vehicle at auction and reassign the insurer’s appropriate Title to the purchaser.
   
   [Nebraska Revised Statutes § 60-170] back to top


5. What steps must an insurer take in Nebraska to process an owner-retained vehicle?
   
   If, after the insurance company has paid a total loss settlement, the owner of the damaged vehicle chooses to retain ownership, the Salvage branded Certificate of Title issued to the insurance company must be assigned to the insured.
   
   [Per DMV website] back to top


6. What legal duties are imposed upon a lienholder following satisfaction of the lien?
   
   When the lien is discharged, the holder shall, within fifteen days after payment is received, note a cancellation of the lien on the face of the certificate of title over his, her, or its signature and deliver the certificate of title to the county clerk, the designated county official, or the department which shall note the cancellation of the lien on the face of the certificate of title and on the records of the office. If delivered to a county clerk or designated county official, he or she shall on that day notify the department which shall note the cancellation on its records. The county clerk, the designated county official, or the department shall then return the certificate of title to the owner or as otherwise directed by the owner. The cancellation of the lien shall be noted on the certificate of title without charge.
   
   [Nebraska Revised Statutes § 37-1282(5)] back to top
   
   
   NEBRASKA DMV